PORTLAND, Maine — A Maine housing developer has changed course on a project, selling 63 planned Portland apartments as condominiums rather than renting them out — another halted plan signaling a cooling in the upscale rental market.

Vincent Veroneau, president and chief executive officer of J.B. Brown & Sons, says the decision to redirect the project was made mostly because other apartment projects have absorbed some of the pent-up demand for rentals.

The Portland Press Herald reports (http://bit.ly/2u4TPRZ ) city leaders have been eager to add rental housing after a shortage of units led to rapid rises in rents that forced some people to leave the city.

According to landlords, rent prices have stabilized recently — but rental housing still remains in short supply for low-income renters.

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