PORTLAND, Maine (NEWS CENTER Maine) -- A new development on the last large tract of land on Westbrook Street began it's first phase Wednesday. Ground was broken on the 55-acre subdivision at the former Camelot Farm. It will be adding nearly 100 homes and 25 townhomes to the area, according to the developer.
The project is not without its critics. We spoke with one man who lives next door and tells NEWS CENTER Maine some of his neighbors have already moved or are selling their homes. Bruce Harrington has lived at his Westbrook Street home for 25-years and enjoyed watching cows graze in the pasture of the former Camelot Farm. The biggest concern is an increase in traffic.
"I think it's going to bottle neck," said Harrington. "It bottlenecks already when you come out here in the morning. And with school, it's even backed up more. I see it backed up to this house every day."
Buying new construction seems to be the trend for homebuyers in Maine, if you can find one, according to Dava Davin of Portside Real Estate Group. She says the luxury market is 'stagnant,' and prime median priced homes are selling faster.”
"The median sales price for a single-family home in Cumberland County is $310,000," said Davin. "We also have the highest median price statewide at $210,000. About 8% higher than 2017."
Right now, a 1,797 square foot single-family home on 0.205 acres is listed at $475,000 on the Stroudwater Preserve website. It's about $165,000 more than the median price in Cumberland County, and $265,000 more than the statewide average.
New construction projects are straining the labor workforce, and could start affecting home prices. The Maine Department of Labor said that some construction companies are struggling to find qualified workers.
"What we know is in the last year the number of construction jobs has increased at an accelerating rate iIn the face of little growth in the size of the labor force and unemployment that has dipped to historic lows," said chief economist, Glenn Mills.
“With the economy being healthy overall, if people have a choice, they like new. They like to make choices," said Davin. "We do have a bit of a labor shortage in Maine. That’s driving up new construction prices, along with the wood products.”