Construction is officially underway on Building Three at Stevens Square at Baxter Woods, a growing 55-plus condominium community in Portland. City leaders, project partners, and the development team gathered this week along McAuley Way to celebrate the start of work on the latest expansion of the senior-focused residential campus.
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Portland Mayor Mark Dion joined other city officials, representatives from Developers Collaborative, and members of the Stevens Square management team for the groundbreaking ceremony, underscoring the city’s continued focus on addressing housing needs for older residents.
Led by Developers Collaborative, the newest building will bring 28 for-sale condominium units to the site. The homes are priced between $600,000 and $900,000, and strong early interest has already resulted in 15 units being placed under contract, according to the development team. The new structure represents the third phase of the growing campus, which has become a highly sought-after option for older adults seeking modern housing close to nature and within easy reach of Portland’s core amenities.
Kevin Bunker, owner of Developers Collaborative, said the demand has been driven by buyers seeking a quieter, more spacious alternative to Portland’s busiest urban areas. "We’ve found from the beginning when we started this project there was a group of buyers who didn’t want to be in the Old Port — they wanted a little more space," Bunker said. "That’s what we’ve tried to build them here."
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The project’s general contractor, Optimum Construction, expects site work to ramp up in the coming weeks, with the building targeted for completion in spring 2027. Once finished, Building Three will add to the Stevens Square community’s mix of modern homes, shared amenities, and proximity to Baxter Woods, one of Portland’s signature natural areas.
The development reflects a larger trend in Maine’s housing landscape: as the state continues to have one of the highest median ages in the nation, demand for senior-focused housing—especially walkable, community-oriented options—remains exceptionally strong.
Stevens Square has quickly become one of Portland’s most significant age-restricted residential projects, blending new construction with a village-style design to create a supportive environment for residents 55 and older. The campus’ proximity to trails, healthcare services, and retail destinations has helped drive its appeal among downsizers and retirees seeking convenience paired with community living.
For Portland officials, the project aligns with long-term goals to expand housing supply across age groups while improving accessibility for older Mainers. More development is expected across the Stevens Square site as builders continue to respond to demand for senior-friendly homes.
Originally reported by NEWS CENTER Maine Staff in News Center Maine.
