Land for sale
$6,500,000 - Augusta ME 04330Augusta ME 04330
Land for sale
- Price: $6,500,000
- Reference No.: 69133464
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Overview
This exceptional opportunity presents a fully-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 Retail / 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. While the residential configuration and site plan can be adjusted, the plan has been meticulously crafted by a renowned architectural firm to mirror the projects in Biddeford and Lebanon, NH. The approvals from both the City and State for Tax Increment Financing and a Credit Enhancement Agreement (TIF/CEA) will reduce property taxes by approximately 65% for 25 years, yielding over $315, 000 annually to the Net Operating Income (NOI). The State Department of Environmental Protection (DEP) has pre-approved the project under the Site Location Development Act (SLODA), enabling immediate construction commencement without facing a delay of up to one year. The project is inspired by The Marek concept pioneered by Saxon Partners, implemented in various communities across the East Coast and as far west as Colorado. It boasts amenities such as a fitness center, home office area, bistro bar, secure bike and package storage, sidewalks to the nearby Augu For more details and to contact: https://realtyww.info/land-lots_augusta-d526353/for-sale_i69133464Land Augusta
This Land for sale is located at Augusta ME 04330. The home has . This Land in Augusta ME is for sale for $6,500,000 .
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2024-04-04, Viewed 0 times.
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The information about this listing comprises a listing advertisement. Listanza makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information. Further, Listanza has no control over the content. The information is provided and maintained by the owner/agent. Please contact the owner/agent directly to obtain any additional information.
2024-04-04, Viewed 0 times.
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