- 130-unit development will feature an additional 26 accessory dwelling units
- Prices max out at $449,999 for market-rate condos; first 40 buyers receive a $5,000 Pottery Barn or West Elm gift card
- Community amenities include fitness center, co-working space, lounge/game room, central green with playground and EV charging stations
- Located off Congress Street near the Stroudwater Trail; 10-minute drive to downtown Portland
Portland’s first-time buyers finally have homes built for them. Stroudwater Commons opened sales this month — a 130-unit community off Congress Street where prices start around $241,000 for first-time buyers and top out at $449,999 for market-rate three-bedrooms. The first 40 buyers will receive a $5,000 Pottery Barn or West Elm gift card to furnish their new home.
Set back from Congress Street near the Stroudwater Trail, the community sits across 13 four-story buildings, each with elevators, arranged around a central green with a playground, bike storage, and EV charging stations. Walking paths lead directly onto the trail and nearby preserves; downtown Portland is a 10-minute drive.
“This project is proof that you can build new single-family homes and price them so that first-time buyers can get on the equity ladder – not five years from now, but today,” said GreenMars co-founder Chris Marshall.
Set back from Congress Street, the community centers around a shared green space with a playground and bike storage. Walking trails connect residents directly to the Stroudwater Trail and nearby preserves. Additional amenities include a fitness center, co-working space, and a reservable lounge and game room with a full kitchen for private gatherings. Deeded parking spaces are available for purchase.
Unlike most condo developments of this size, all units at Stroudwater Commons have at least two walls of windows. In addition, double walls between units provide next-level sound dampening. This is also one of the first projects approved in Portland under the new IBC construction standards. These units will have higher-rated insulation and energy efficiency than anything built before them, giving new residents lower utility costs.
HOA fees will be based on unit size and affordability type, estimated to range between $235 at the low end for income-restricted units and $580 for market-rate three-bedrooms.
Creating unique investment opportunities, 26 of the units are designated as accessory dwelling units (ADUs). These studio apartments can be purchased for additional living space, guest accommodations or rental units – AirDNA projects $36,000 in annual short-term rental income. Prices start at $225,000, with a limit of two per owner.
“This project is proof you can build new single-family homes and price them so first-time buyers can get on the equity ladder, not five years from now, but today,” says GreenMars co-founder Chris Marshall. GreenMars is locally owned, with recent communities in Brunswick, Yarmouth, and Springvale.
Inside, every home has windows on at least two walls and double walls between neighbors that materially reduce sound transfer. Insulation meets Portland’s newest IBC construction standards — Stroudwater Commons is among the first projects in the city approved under them — translating to lower utility bills than older condo stock. A shared amenity building anchors the central green, with a fitness center, a co-working space, and a reservable lounge with full kitchen for private gatherings. Deeded parking is available for purchase. HOA fees scale with unit size, running from about $235 to $580 a month.
26 of the homes are studio-style accessory dwelling units (ADUs), priced from $225,000 with a two-per-owner cap. AirDNA projects up to $36,000 a year in short-term rental income, meaning a second unit can help cover the mortgage on your first.
“That’s income-producing real estate, something that’s traditionally been out of reach for first-time buyers,” Marshall says. “We designed this so people on normal incomes have access to the same opportunity.”
Whether you’re buying a first home, downsizing, or looking for a Portland investment, the 40 furnishings credits will go quickly. Reserve at stroudwatercommons.com or call (207) 410-4154.
Property Details
Address: 1 Firefly Street, Portland
Price: Starting at $335,000 (market rate); $241,153 (80% AMI)
Bedrooms: 1, 2 and 3
Bathrooms: 1
Square Feet: 455 to 656
Reserve today at:
stroudwatercommons.com
or call (207) 410-4154
