Mainebiz

W W W. M A I N E B I Z . B I Z 15 F E B R UA R Y 1 0 , 2 0 2 0 S O U T H E R N M A I N E received multiple offers from local developers, but were excited with the overall benefits and advan- tages of the Crossroads proposal to develop a facil- ity within e Downs." Risbara says he's confident that WEX's tentative agreement with Scarborough on a $2.25 million tax break for the company will get the green light on Feb. 19, say- ing: "It is important the town does that for WEX." He also noted that some WEX employees and their families are already living in the Downs' resi- dential area, which has attracted a wide cross sec- tion of people from millennials to retirees. "As we develop restaurants and shops," he predicts, "there could be very little reason for residents to go out on Route 1 or Haggis Parkway or the Turnpike." Meanwhile in the Innovation Park, two industrial lots out of 54 total are under construction — for South Portland-based AV Technik and Scarborough-based educational materials provider Scorebuilders. Another three are under contract as the real estate community watches with interest. "I'm most intrigued by the turnkey nature of the pad sites they are offering in the Innovation District," say Justin Lamontagne of NAI e Dunham Group. "ese developers are making it easy by creating ready-to-go pad sites, already cleared and leveled, stubbed for utilities, and with DEP [Department of Environmental Protection] approvals in hand." But he says it remains an expensive endeavor, saying the success and activity so far is indicative of the limited industrial inventory statewide. "Some businesses have no choice but to build new and are willing to pay a premium to grow their companies." R e n e e C o r d e s , M a i n e b i z s e n i o r w r i t e r , c a n b e r e a c h e d a t r c o r d e s @ m a i n e b i z . b i z Some businesses have no choice but to build new and are willing to pay a premium to grow their companies. — Justin Lamontagne NAI The Dunham Group P H O T O / T I M G R E E N WAY P H O T O / T I M G R E E N WAY Workers tie rebar for founda- Workers tie rebar for founda- tion walls for a future building tion walls for a future building at at Innovation District Innovation District at at The The Downs Downs in Scarborough. in Scarborough. The residential development The residential development at at The Downs The Downs in Scarborough. in Scarborough. F O C U S AT THE DOWNS SO FAR… …AND WHAT'S NEXT 48 occupied apartments 12 memory care facility beds (in construction) 16 duplex condos (majority are occupied) 9 industrial lots under contract 32 occupied garden condos 2 light industrial buildings (in construction) 30 single-family homes (majority are occupied) 19 senior housing units Serving Maine, New Hampshire and Vermont 207-361-4515 / 82 Hanover Street Suite 4 Portland, ME P O RT L A N D O F F I C E F U R N I T U R E S H OW R O O M N OW O P E N F O R M E R LY O F F I C E WO R K S O F N E W E N G L A N D Teknion, Kimball, Hon and 100's of other manufacturers represented Experts in Office Furniture, Office Design and Installation W W W. E X T E R U S F U R N I T U R E .C O M S O U R C E : Crossroads Holdings Inc.

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