A development slated to bring more than 140 units of housing for older adults in Penobscot County is for sale.
The future home of Deer Park Village off Bradley Road in Milford hit the market on June 18 with an asking price of $1.8 million. The 55-acre site with 400 feet of frontage on the Penobscot River is projected to hold 71 ranch-style duplexes, totaling 142 condominiums for adults ages 55 and older.
To date, the seller has installed infrastructure to support the first of three phases of the project, which is expected to hold 40 homes. Those necessities include city water, sewer, paved roads and above-ground electrical equipment.
The sellers, Richard and Judy Storm, have owned the property since 2013, according to Renee Hudgens of Realty of Maine, the listing agent for the property. They launched the project with the mission of bringing much-needed housing for older adults to the area.
“He wanted those who love the area to be able to stay in the area after retirement,” Hudgens said.
It’s unclear why the Storms are selling the site while construction is underway. Milford town officials did not provide information on the status of the project and Richard Storm declined to speak directly with the Bangor Daily News.
If created, this development would bring a spate of new units at a time when the state is trying to fight its way out of a housing shortage. The single-story condos intended for older adults looking to downsize would likely make more properties available for growing families, allowing them to move out of starter homes or apartments.
“Releasing all those other houses they’re living in lets new people buy and refurbish them,” Hudges said. “It’s a cycle that’s stuck right now.”
The property can also be broken up to sell the smaller, “shovel ready” piece of land with all the utilities in place, meaning it’s ready for housing to be built, Hudgens said. That smaller, roughly 10-acre, parcel alone is listed for $950,000.
The plans and local approvals for the development would be handed over with the sale. The buyer can decide whether the homes will be rented or sold, and if they’ll be affordable or market rate, Hudgens said.
Milford town officials approved the development in late 2022, Michelle Schaeffer, Milford’s town clerk, said.
Developers broke ground on the project in August 2024, according to a social media post from Deer Park Village. At the time, the first group of 40 condos were expected to be completed that fall, and the remaining units were supposed to be created in 2025.
Richard Storm also believed the condos would be available by summer 2025, the social media post reads.
“This developer has put a lot of time and energy in and thought it might be a good time to let somebody take the reins,” Hudgens said. “It’s been many years in the making, and it’s just time for a change.”
Construction has not paused during the sale process, according to Hudgens. Roads through the site, for example, are still being created and the price of the development may shift as amenities are created, she said.