
Cumberland, ME Cumberland Crossing by OceanView has progressed into phase 2A of their construction project which will add an additional 52 homes.
Cumberland Crossing by OceanView is an independent living retirement community on Tuttle Rd. The community, which broke ground in late 2018 and is a sister location to OceanView at Falmouth, features two-bedroom ‘plus’ cottages and maintenance-free retirement living. The phase 2A progression was initiated upon the successful selling of the first 53 homes in the development during Phase 1. Phase 2A will be completed with three neighborhoods that will connect the project from Tuttle Rd. to Greely Rd. The community center at Northwind Farm is located at 228 Greely Rd., with staff offices, resident gathering spaces and a new, heated, saltwater pool.
“Cumberland Crossing’s maintenance-free retirement living continues to be an attractive option for retirees looking for peace of mind for the future while also living sustainably,” said Gloria Walker, marketing and sales director for Cumberland Crossing by OceanView. The community features custom-built, two-bedroom cottages with standard modern amenities like four-season sunrooms, gas fireplaces, solar electricity, and full-service generators. Residents also enjoy priority access to amenities and services at nearby OceanView at Falmouth.
Cumberland Crossing is a Maine-owned and managed family business founded by owner John Wasileski.
Cumberland Crossing is using local builders and subcontractors including True North Builders, Storey Brothers, and Mancini Electric among others.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.