The Boulos Company Facilitated Two Land Acquisitions for the Forthcoming  Stroudwater Commons Multi-Family Housing Development

The 130-Condominium Community Will Expand Attainable Homeownership Options in Portland, ME 

Portland, ME (January 2025) – The Boulos Company is pleased to announce they facilitated two land acquisitions on behalf of Stroudwater Commons, LLC, paving the way for development to begin on Stroudwater Commons, a new 130-unit condominium community to be located at 1877 Congress Street in Portland, ME. 

Stroudwater Commons, LLC acquired a 4.04± acre parcel at 1877 Congress Street from Portland/St. Albans, Corp. for $353,000, in addition to an adjacent 0.69± acre parcel at 1897 Congress Street from Portland Children’s Dyslexia Foundation for $350,000. Both transactions were arranged on behalf of the buyer by Claire Richardson of The Boulos Company. The seller of the 1877 Congress Street parcel was represented by Tom Moulton and Katie Breggia of The Dunham Group. 

The combined site will be developed into Stroudwater Commons, a 130-unit condominium project led by GreenMars Real Estate in partnership with Acadia Realty Partners. The development represents a significant investment in addressing Portland’s affordable housing needs at scale. 

“We saw a real opportunity to bring back attainable, for-sale condominiums in a market that desperately needs starter-home ownership options,” said Chris Marshall, Managing Partner at GreenMars Real Estate. “From the start, we assembled a team of engineers, architects, and attorneys who knew Portland and stayed laser-focused on delivering what the city needs. And working with our friends at Acadia Realty Partners, we’re able to deliver real homeownerships in a walkable, convenient location that hasn’t seen this many new condos come to market in years.” 

Stroudwater Commons will be the first major project in Maine to fully utilize the density bonuses under LD 2003, delivering 130 condominiums with the option for residents to add one or two integrated accessory dwelling units (26 ADUs total). These flexible designs allow homeowners to create rental income opportunities or accommodate multigenerational living. 

“We’re seeing huge demand for affordable, high-quality starter homes and reservations are filling up faster than we anticipated,” Marshall added. “These condos are designed with first-time buyers in mind and offer an accessible entry point into homeownership amid Maine’s challenging housing market.” 

There is strong demand for the project and many of the units are already reserved. Construction is slated to begin in early 2026 with the first residences slated for move-in in late 2026. Phase 2 is scheduled to be completed in 2027. 

Interested buyers can explore floor plans and join the priority reservation list, which is filling up quickly, by visiting stroudwatercommons.com.