The Szanton Company, an affiliate of the Monks Companies, specializes in developing mixed-income rental housing in or near downtowns. The principals formed the company as an outgrowth of a successful consulting firm that provided development project management services to non-profit and for-profit clients. Since beginning to develop for itself, The Szanton Company has completed four new construction projects and is working on its fifth. Three of the completed buildings are located in Portland, Maine, one with 27 apartments and one with 40 apartments. The newest project, which opened in August of 2009, contains 43 apartments. The fourth, a 30-unit apartment building, is located on Water Street in Exeter, New Hampshire. In December, 2009 The Szanton Company began construction on its latest development , a 66-unit project called The Mill at Saco Falls. It is an adaptive re-use of a 165 year-old textile mill building in Biddeford, Maine.