V O L . X X I X N O. I I I
F E B R UA R Y 6 , 2 0 2 3 22
C O M M E R C I A L D E V E L O P M E N T
Augusta's downtown
revival
Keith Luke, Augusta economic
development director
"What is on trend in Augusta for
2023 is the return of the capital city's
downtown. Our street-level vacancy
rate has dipped below 20% for the
first time in over a generation, and
the downtown restaurant count is
now at 10, with a new bakery open-
ing a retail storefront in the next
couple of weeks. Water Street has
re-emerged as the hub of Central
Maine nightlife."
Capital investments
"What we continue to see in
Augusta is investment capital mov-
ing northward from established mar-
kets between Boston and Portland
and into markets like Augusta and
Waterville. e historic Olde Federal
Building on Water Street is being
acquired by the Goldman Group
of Boston, and the city's planning
board recently approved 25 market-
rate apartments, ground-floor retail
and a rooftop bar overlooking the
Kennebec River."
Building on our
promise
Design-Build / Engineering
General Contracting
Construction Management
Sukeforth Family Sports Center
Thomas College, Waterville Maine
PO Box 359 — 33 Sheridan Drive — Fairfield, ME 04937
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C O N T I N U E D F RO M P R E V I O U S PA G E
F O C U S
P H O T O / T I M G R E E N WAY
Keith Luke, Augusta's economic
development director, says that
Water Street has reemerged
as the hub of Central Maine's
nightlife. He's pictured at State
Lunch, at 217 Water St.
What is on trend
in Augusta for
2023 is the return
of the capital city's
downtown.
— Keith Luke
City of Augusta
