Own your home at Lambert Woods. No mortgage needed.
22 new homes at 2259 & 2265 Washington Ave Ext. You buy a $5,000 share instead of taking out a mortgage, then pay one monthly charge that includes heat, electricity, water and trash. Move-in is planned for June 2027.
How reserving works
- Pick a home on the board below. Each one shows its floor, size, monthly cost and which way it faces for sun. Tap See where for the floor plan.
- Reserve it with $500. Pay online or by check. It's refundable until construction begins.
- Get to know your neighbors. Members meet monthly (second Thursday, 6pm) to set house rules together before move-in. The City of Portland verifies income once, before move-in.
- Move in (June 2027). The $4,500 share balance is due then. When you move out, you get your share back plus an estimated 2% a year.
What's open right now
2259 & 2265 Washington Ave Ext, North Deering. Every home is a complete private apartment (own kitchen, bath, washer/dryer hookups) with shared community rooms on the first floor. No mortgage, no credit-score requirement. Monthly cost includes utilities.
See the homes
Tap any picture to enlarge. Both buildings use the same floor plans. On the board below, tap See where on any home to see exactly where it sits. The second and third floor maps and the 1-bedroom plans are from the builder's permit drawings (August 2026). The two upper-floor 1-bedroom layouts are not identical: 201 and 301 have the larger bedroom. Final details may change slightly during construction.
Unit by unit
Monthly cost includes heat, electric, water and trash (not internet or parking). Floors 1–3, walk-up. A $500 reservation holds a specific home and is refundable until construction begins; the $4,500 share balance is due at move-in (June 2027).
The $500 reservation is refundable until construction begins. Subscribers meet monthly (second Thursday, 6pm) with Raise-Op to set house rules (including pets) and get to know their neighbors before move-in. Income is verified once by the City of Portland before move-in; households generally earn under 100% of AMI, with up to 20% of homes open to 100–120%. Right now we're giving priority to households earning under 80% of AMI.
Common questions
How does the co-op work?
You buy a $5,000 share in Lambert Woods Cooperative instead of buying the unit itself. The share gives you the right to live in your home. There is no mortgage and no credit-score requirement. You reserve with $500 now and pay the $4,500 balance at move-in. After that you pay one monthly charge that includes heat, electric, water and trash.
How do I pay the $500 reservation deposit?
Pay online through the cooperative’s secure PayPal page (www.paypal.com/ncp/payment/WDVDYN6BA4UWW), or by check made out to Maine Cooperative Development Partners, with your name and “Subscriber deposit” on the memo line, mailed to 6 City Center, 3rd Floor, Portland, ME 04101. The deposit holds a specific home and is refundable until construction begins.
When can I move in?
The date is not set yet. The current estimate is June 2027. Reserved members hear about the schedule at the monthly members’ meetings.
What do I get back when I leave?
Your $5,000 share plus an estimated 2% a year. You don’t sell the home the way you would a condo; the cooperative keeps it affordable for the next household.
Does the co-op have a mortgage? Will it be paid off?
The cooperative carries one mortgage on the buildings, and its cost is built into the monthly charge. There is no set plan or date to pay it off; the members decide that together as the co-op grows. The goal is that being a member always costs less than renting or owning a comparable home.
Can I use a housing voucher?
Yes. A MaineHousing or Housing Choice Voucher can be used at Lambert Woods Cooperative.
Is there an elevator? Are any homes step-free?
There is no elevator; the buildings are three-story walk-ups. The first-floor homes have no stairs; ask us which ones are still open. They are not certified ADA units, but they are built to accessibility standards and a wheelchair can get in. Tell us what your household needs and we will tell you honestly whether a home fits.
Is there parking and EV charging?
Yes. There are 4 EV chargers on site, which are also open to the public. Parking is not included in the monthly charge.
Who can join, and which size home fits my household?
Most homes are for households earning under 100% of AMI (Area Median Income), and up to 20% can go to households at 100–120%. We’re currently prioritizing households under 80% of AMI. One-bedrooms are for 1–2 people and two-bedrooms for 2–4, so a single person takes a one-bedroom. Income is verified once by the City of Portland before move-in.
Does it have to be my main home?
Yes. Your Lambert Woods home must be your primary residence, and you need to live there at least 51% of the time. It can’t be a second or part-time home.
I own a home now. Can I join?
You can’t own another home that could be your primary residence, like a house, condo or co-op. A seasonal place is fine, and so is owning an apartment, as long as you live at Lambert Woods at least 51% of the year. If you own a home now, you can still reserve, but it is best to sell before you join. We are glad to help you plan the sale and the timing.
When do I get the co-op’s documents?
The cooperative’s governing documents are being finalized now. You will get them to review as part of signing up, and members shape the house rules together at the monthly meetings.
New to co-ops?
See how a co-op compares with buying a condo or renting: cash to get in, monthly cost and what you keep.
How the co-op works → · Own vs. co-op vs. rent →Looking to rent instead?
Lambert Woods North, across the street, has 72 apartments for households up to 60% of AMI. Applications open November 2.
lambertwoods.com ↗