The Boothbay Regional Development Corporation (BRDC) has announced a significant price reduction across its new townhome condominium project at Cedar Bend (Butler Road, Boothbay), paired with a new down payment assistance fund designed to help qualified buyers purchase one of these newly constructed homes. 

The move reflects a strategic shift aimed at addressing one of the biggest barriers facing today’s home buyers: affordability at the point of entry. 

“We realized that the biggest hurdle wasn’t just down payment assistance. It was the perception that these homes were simply unaffordable,” said BRDC President Steve Malcom. “Lowering the purchase price reduces monthly mortgage payments,makes financing more accessible, and provides new homeowners a mortgage interest deduction.”   

New prices, new opportunity 

As part of the initiative, BRDC donors have generously committed $750,000 to reduce the list prices of the homes, with units now offered at prices tens of thousands of dollars below the original list price. These price reductions are reflected on the Multiple Listing Service and major home-search platforms such as Zillow and Redfin. 

Additional funds will be used to provide targeted, one-on-one down payment assistance to buyers who need additional support. Buyers can combine this assistance with existing state and federal programs to expand their purchasing power even further. 

Starter homes designed for first-time and workforce buyers 

Cedar Bend consists of brand-new, energy-efficient townhome condominiums located in the heart of the Boothbay Peninsula. Each home includes two bedrooms, one and a half baths, an open-concept kitchen and living area, private outdoor space, and parking in a shared lot. Thegrounds also include ample shared outdoor space for play, projects, and social gatherings. 

Built with energy efficiency and low maintenance in mind, the homes are well-suited for first-time buyers, busy parents, and households wanting to get -- or stay--rooted in the community. 

A call to buyers who’ve been waiting 

BRDC hopes thisopportunity will interest buyers who previously ruled out new construction, and prompt local workers who do not currently live on the Boothbay peninsula to take a look now, before the traditional sales season heats up later in the year. 

“We want people to walk through the door and take a look, talk to a lender, and see what’s actually possible,” Malcom said. “These are starter homes, intended to help folks move from renting to owning, now with more assistance available” 

Interested buyers are encouraged to contact the listing broker to learn more about income qualifications, available assistance, and to schedule a showing. 

With brand new housing stock, reduced prices now in place, and down payment assistanceavailable, Cedar Bend welcomes buyers seeking a home on the Boothbay peninsula.