CAPE ELIZABETH — Developer Joel FitzPatrick said he is pleased with the progress so far at Eastman Meadows, where five of the 46 planned condominiums are now sold.
“Two of the five units that have been sold are moderate-income homes,” FitzPatrick said. “One person is living here now and another will move in by April. All five are expected to be in by the middle of March.”
Eastman Meadows is the town’s first new condominium project in more than two decades. Its homes are designed for people 55 years and older and are single-story, two-bedroom, two-bathroom units. Buyers can add features such as dens, sun- or screen-porches, granite counter-tops or solar panels. Depending on their custom additions, each unit will cost between $359,000 and $450,000.
FitzPatrick said the six moderately priced units in the complex will sell for about $315,000 each.
“We had a choice to make 5 percent of the complex low income or 10 percent moderate income,” he said. “We opted for moderate because the numbers worked out better for us.”
Of the 40 acres of land on Eastman Road that will be a part of the condominium complex, 14 acres will be used for new roads and the development and 25 will be conserved for public trails and open space
“These trails will connect to the Greenbelt trail system,” he said. “People who live here and the neighbors will be able to walk into the woods right in their backyard.”
The first phase of the project includes 20 units, FitzPatrick said, built in four-unit sections and duplexes.
The second phase will include duplex and free-standing single units. The trail system will be completed in the second phase, he said.
FitzPatrick said he’s pleased to see the economy improve and is using local electricians, construction companies, carpenters and carpet and flooring businesses.
“We are putting a lot of people to work,” he said. “It will continue year-round until it’s done.”
Amy Anderson can be reached at 781-3661 ext. 110 or email@example.com
The entrance to Eastman Meadows in Cape Elizabeth.