Beautifully designed building will transform a long-vacant lot into 18 apartments, two retail storefronts, and six live-work spaces

GreenMars Real Estate Services (GreenMars), an integrated real estate development and services company, announced today that the Cape Elizabeth Planning Board has approved Cape Commons, a thoughtfully designed, mixed-use development to be built at 316 Ocean House Road. Designed to support the vibrancy of Cape Elizabeth’s village center, Cape Commons will bring affordable rental housing and new retail opportunities to an underutilized lot next to town hall. The planning board approved the project on August 18, 2026, and it was unchallenged during the appeal period.

Cape Commons is designed to complement the scale and character of Cape Elizabeth’s walkable village center. The mixed-use building will offer 18 affordable rental homes in a mix of studio and one- and two-bedroom apartments: all are available to households earning no more than 80 percent of the area median income (AMI), which is currently $77,920 for a one-person household, $89,040 for a two-person household, and $100,160 for a three-person household. Cape Commons’ street level will include approximately 2,000 square feet of retail space divided between two storefronts, offering an ideal location for a restaurant or café.

“Cape Commons will transform a long-vacant property into much-needed workforce housing,” said Oscar Wilkerson, development operations specialist at GreenMars Real Estate Services. “We’re pleased that Cape Elizabeth’s Planning Board recognized the project as an opportunity to expand the town’s affordable housing supply and return a long-vacant property to productive use. We look forward to creating new homes and supporting small businesses in a manner that respects the beauty and character of the village center.”

Cape Commons’ six distinctive live-work residences reflect how many professionals live and work today. Spacious first-floor open spaces with separate living spaces above allow residents to operate a studio, creative practice or small business from home, maintaining a business address with a distinction between work and living areas. They’re ideal for artists, entrepreneurs, small business owners and a wide range of professionals with hybrid or fully remote schedules.

In addition to offering a highly walkable location, the 15,000 square foot building will include access to 51 parking spaces and a new access driveway, developed around a smart-growth, downtown-infill design philosophy. GreenMars expects to begin construction in 2027.

About GreenMars Real Estate
GreenMars Real Estate Services (GreenMars) is a fully integrated real estate company with a proven track record of delivering complex housing, mixed-use and commercial projects from initial concept through long-term operation. Its end-to-end platform encompasses site selection and acquisition; underwriting and valuation; land-use approvals and permitting; design and engineering; construction; commercial brokerage; leasing; and property management. By joining these capabilities, GreenMars helps clients identify viable opportunities, manage risk and advance projects with greater clarity and continuity from initial analysis through occupancy and ongoing operations. Headquartered in Portland, Maine, GreenMars’ portfolio includes Nasson in the Pines, Stroudwater Commons and Wilbur’s Woods, projects that underscore every team member’s mission to expand housing supply, return underused properties to productive use and create lasting value for local communities. To learn more about GreenMars and its mission to creating housing opportunities and supporting strong, prosperous communities in Maine and beyond, visit greenmars.com.

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Cape Commons will transform a long-vacant property into much-needed workforce housing. We’re pleased that Cape Elizabeth’s Planning Board recognized the project as an opportunity to expand the town’s affordable housing supply.