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375-391 Civic Center Dr
Augusta, ME 04330

Price Upon Request

Land For Sale  •  15.08 AC

Property Details

  • Property Type Land
  • Lot Size 15.08 AC
  • Zoning CONTRACT ZONE
0 Transit Score
19 Walk Score

Description

This exceptional opportunity presents a pre-approved site for a 250-unit multi-family rental housing development that is "Shovel Ready." The package includes a significant property tax reduction and architectural plans, along with two street front commercial sites valued at a total of $750,000.

Situated approximately 4,000 feet west of I-95 on Civic Center Drive, at the intersection of Leighton Rd. The current approved plans feature 125 X 1 Bed Jr, 118 X 1 Bed, and 8 X1 Bed plus units, along with 36 covered garage spaces.

The immediate vicinity boasts convenient access to I-95 (within 4000 feet), the Augusta Marketplace Mall housing over 40 stores (the second largest shopping area in Maine), The University of Maine at Augusta Campus, the Augusta Civic Center, multiple state and federal offices, and medical service facilities. Additionally, Maine General Hospital, with 3,000 employees, is situated approx. half a mile from the site, along with a new Maine Veterans Home. The area also features several hotels, banks, restaurants, and other retail establishments. Notably, the location is a 50-minute drive from Portland and Penobscot Bay Area, 70 minutes from Bangor, and 90 minutes from the Sugarloaf Mountain Ski Complex.

Highlights

Fully Approved 250 Unit Multi-Family Development
Tax Increment Financing & Credit Enhancement Agreement- Will Reduce annual tax liability by 65% for 25 yrs
EB-5 Financing
Two Street Front Commercial Sites valued at a total of $750,000
State approvals from DEP under SLODA enable immediate construction commencement
Close proximity to Univ. of Maine at Augusta, Maine General Hospital, Augusta Marketplace Mall, restaurants, banks and other retail establishments

Property Flyers

Douglas Martin 603-770-5199 KW Commercial Real Estate
Douglas Martin 603-770-5199 KW Commercial Real Estate