GSB Pledges $200,000 to Avesta Housing to Address Maine's Housing Crisis

Multi-Year Gift Will Help Provide Energy-Efficient Homes And Support Services

Gorham Savings Bank has pledged $200,000 to Avesta Housing, the largest nonprofit affordable housing provider in northern New England, to aid in the development of energy-efficient affordable homes and support services for people in need over the next four years.

The multi-year gift will address two key components of Avesta’s work:

  • Improving access to support services to help residents meet their immediate needs and achieve long-term success. Avesta partners with more than 100 organizations to help its residents access essential resources and services, such as food, health care, transportation, education, jobs, and more.
  • Incorporating sustainable building design elements into new affordable developments, with a focus on solar energy, which both reduces Avesta’s carbon footprint and decreases housing costs for residents.

Avesta Housing has delivered almost 200 new affordable homes in 2023 to people in need in Maine and New Hampshire. It estimates Gorham Savings Bank’s gift will directly assist 200 to 400 individuals over the next few years.

“Safe, quality, affordable housing is needed now more than ever. It’s also more challenging than ever to build and operate. We rely on support from our partners to help ensure that residents not only have a place to call home, but that they have the resources they need to achieve and maintain housing stability,” said Avesta Housing President and CEO Rebecca Hatfield. “This donation from Gorham Savings Bank will help Avesta tackle Maine’s housing crisis, improve lives, and enrich communities for years to come.”

“We believe helping Mainers achieve housing stability is crucial to cultivating a thriving community,” said Gorham Savings Bank President and CEO Steve deCastro. “Helping our neighbors is one of our core principles and we are proud to support Avesta’s mission in these under-resourced, high-impact areas.”