Lewiston, ME Land Property For Sale

Approved Riverfront Project with 244 Units at 100% Market Rate

6+ acres boasting 800 feet of Androscoggin River frontage has received

Full approval for a project that includes 244 units at market rate. This prime location is in proximity to two medical centers, St. Mary’s and Central Maine Medical Center, offering over 3,000 healthcare positions, as well as Bates College and the City’s Planned Riverfront Revitalization. Situated just minutes from I-95, the project has completed all necessary approvals and pre-development work. Additionally, Tax Increment Financing is available, providing a 63% tax reduction for 20 years. Lewiston, the second largest city in Maine, is experiencing population growth that surpasses the state’s average pace.

Building A features 5 stories with 120 residential units and 49 parking spaces on the ground level.

Building B features 4 stories with 124 residential units. There are a total of 246 onsite parking spots, 23 garage bays, plus an additional 50 overflow parking.

Ammenties include: Fitness Center, Wellness studio, Entertainment areas, amd Work from home areas.

All units are 1 bed, 1bed Jr, and some 2 beds (final mix TBD by developer)

The Lofts on Lowell is a premier residential development opportunity boasting a prime location in Maine's second-largest city, Lewiston, known for its rich history and vibrant community. This meticulously planned project offers an approved TIF and has been vetted for modular construction by a Maine based modular builder as an option for the developer with an estimated timeline for completion ½ that of the current pace of construction. This can help reduce the overall cost of the project and ensure units are available to the market faster.

Highlights:

• Permitted Residential Units: 172

• Total Lot Size: 0.18 Acres

• Market Rate: 100%

• Frontage: 177.75, 100 Ft on Lowell St and 77.75 Ft on Chapel St

• Address: 3 Lowell St. Lewiston ME

• Excellent Highway Access: Minutes to I-95

• Close Proximity:

o Central Maine Medical Center (CMMC)

o St. Mary’s Regional Health Center

o Bates College

o City’s Planned Riverfront Revitalization

• Approvals and Pre-Development Work Completed

• Population Growth – More than double the state pace

• Employment: 3,000+ Local Healthcare jobs

• Population: Second Largest City in Maine

• TIF - Tax Increment Financing: 55% Tax Reduction for 20 Years

• Attractive Financing Available

• Projectd IRR: 23.8%

We are pleased to present this Prime Development opportunity on 102+/- acre parcel. Located on the heavily travel Route 196 corridor with a daily traffic count of 14,370 in the heart of Lisbon located between Lewiston/Auburn and the Coastal towns of Brunswick/Bath. Mixed-use development featuring Retail, Industrial & Commercial. Rarely does a parcel of this size come available. This is a tremendous opportunity to create the first industrial/business park to be developed in the area in over 25+ years. This land is located 3.4 miles from I-95 and 11 miles from I-295. The site is level and ready to be developed.

LAND PROJECT HIGHLIGHTS:

• Land area: 102 +/- acres

• Zoning:

- 3-phase power

- Municipal water and sewer

- Natural gas

- Fiber optics

6.1+/- ACRES | LOCATE YOUR BUSINESS HERE

Exceptionally good location for your commercial/industrial business

Outstanding visibility and access

Direct access to I-95/Maine Turnpike from Alfred Plourde Parkway

Highway Business Zone