Casco Terrace

41 State Street, Portland, Maine 04101

Contact Casco Terrace

Casco Terrace was finished in June of 2004 and is considered one of the most desirable apartment complexes in Portland. Offering beautiful views of Casco Bay, these 1 and 2 bedroom units feature hardwood floors, on-site laundry and covered parking in a secure building. Rent includes heat, hot water and parking. Many of the units have sliding glass doors leading out to private balconies. The apartments are accessible by elevator.

Developers Nathan Szanton and Robert C.S. Monks foresaw the residential potential of this former 1-story parking garage, located just a half block from the Casco Bay Bridge and a five minute walk to the Old Port and downtown. So in 2004, atop the existing garage, they built Casco Terrace.

The architecture of Casco Terrace with the elements of red brick, balconies, lintels, and decorative metal railings is rich and gracious and in keeping with the beautiful historic buildings up and down the block. For more images, visit Archetype Architects.

Every apartment has its own covered, indoor secured parking space included in the rent. At the head of each parking space, also included in the rent, is a 4' x 8' floor-to-ceiling, lockable storage unit. 20 of the 27 apartments enjoy balconies.14 of the 16 two-bedroom apartments have a second full bathroom. Seven of the apartments have lofts with harbor views. Each of the three floors of housing has its own fully equipped laundry room.

Casco Terrace is convenient to downtown Portland, South Portland, Route 1, Interstate 295, and the Maine Turnpike.

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	Call for Price
1 Bedroom Lofted (1/1)	-	Call for Price
2 Bedroom (2/2)	-	Call for Price

Eligibility for Casco Terrace

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 Portland but actual income limits may differ for units at Casco Terrace.

AMI Band	1 Person	2 Person	3 Person	4 Person
Very Low Income (50%)	$32,550	$37,200	$41,850	$46,450
Low Income (60%)	$39,060	$44,640	$50,220	$55,740

Casco Terrace Details

27 one and two bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Public Housing

Property Amenities

Elevator
Off-Street Parking
Smoke Free
Heat Included
On-Site Laundry

Unit Amenities

Handicapped Accessible
Dishwasher
Scenic View
Storage
Balconies or Patios Available
Heat and Hot Water Included
Intercom System

Nearby Amenities

Close to Downtown District
Near Bus Line

Low-Income Housing Tax Credit (LIHTC)

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.

Public Housing

Since this property is owned and managed by a Public Housing Authority, all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. A housing authority may establish a minimum rent of up to $50.