The Mill at Saco Falls is a 166 year-old historic textile mill building on the banks of the Saco River, at the Saco Falls. Opened in November of 2010, The Mill at Saco Falls is at the heart of Biddeford's historic mill district. It is a two-block walk to downtown Biddeford with its variety of shops and services, restaurants, and cafes, the McArthur Library, and the City Theatre.
The RiverWalk, currently under development by the city, will be a spectacular urban walkway along the river and through the mill district, passing right by our building and ultimately connecting with the town of Saco and the Eastern Trail.
The exceptionally large apartments vary in size from 689 to 786 square feet for one-bedroom units, 846 to 1,435 for two-bedrooms, and 1,432 to 1,547 square feet for three-bedrooms. The units are spacious and have plenty of natural light. Some apartments offer a walk-in bedroom closet. Most two-bedrooms and all three-bedrooms have two full baths. Green building standards and a solar-powered hot water system ensure exceptional indoor air quality. A limited number of apartments are available at below-market rates to income-qualified residents.
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Biddeford but actual income limits may differ for units at The Mill at Saco Falls.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
Very Low Income (50%) | $33,800 | $38,600 | $43,450 | $48,250 | $52,150 | $56,000 | $59,850 | $63,700 |
Low Income (60%) | $40,560 | $46,320 | $52,140 | $57,900 | $62,580 | $67,200 | $71,820 | $76,440 |
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.