Dave Gleason of Coldwell Banker gave us an update on sales of the former Navy housing at McKeen Street Landing. Gleason has now sold almost 100 single-family homes in the McKeen Street area, which is about three miles west of Brunswick Landing and was built for military families in the 1950s and 60s. George Schott of Affordable Midcoast Housing purchased the properties from the Navy in 2010. Schott is selling off some of the stock and renting other homes. Sales have been stronger than expected and have not had a negative impact on the local real estate market as some feared would happen when the Navy left.
Dave’s statistics are quite telling and are in line with the housing strategy that was developed early on in the reuse process. More than half the homes have been sold to first-time home buyers. Three quarters of them have been sold to those with affordable home incomes.
| Total Number of Units |
96 |
Percent |
| First Time Home Buyer |
53 |
55% |
| Family Size – Single | 33 |
34% |
| Family Size – Couple |
37 |
39% |
| Families w/Children | 17 |
23% |
| Investors |
4 |
4% |
| Affordable Household Income (< $80,520) Family |
74 |
77% |
| Previous Address: Brunswick/Topsham/Bath/Freeport |
58 |
60% |
| < 30 mi. Portland, Gardiner, Durham, Augusta |
15 |
16% |
| > 30 mi. Poland, Standish, Biddeford |
11 |
11% |
| Out of State: Fla, PA, MA | 12 | 13% |
| Employers: BIW, Town of Brunswick, SAD 75, L. L. Bean, Bowdoin College, Sappi, Unum, MRRA, Bodwell Motors, USCG, real estate, healthcare, retail, construction, restaurants, hotels, churches, banks,etc. | ||
| Sales Pending with Contracts in Phase II & III | 2 | |
