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V O L . X X I I I N O. I I JA N UA R Y 2 3 , 2 0 1 7 16 A U G U S TA / WAT E R V I L L E W ater. Not just drips from snowmelt on the unseasonal 52-degree mid-January day, but ankle-deep puddles inside 173 Main St., the former home of Waterville Savings Bank and Judy's Wig Salon that Colby College will turn into ground-fl oor retail and upper-level offi ce space this summer. It will be the fi rst completed piece of the college's elaborate plan, in col- laboration with the city and other parties, to rejuvenate the city. News traveled fast from the wet building to the architects, college and other planners meeting for the fi rst time to talk details of the building on Jan. 11. About $5 million will be invested into the building, which has 21,000 square feet of leasable space. Paul Ureneck, director of commer- cial real estate at Colby and former senior vice president for project man- agement at CBRE | e Boulos Co. in Portland, frowned when he heard the news, but admitted such surprises are all part of rehabbing old buildings. Most of the properties Colby bought, like the former Levine's clothing store at 9 Main St., were beyond repair. at building was demolished to make room for a 42-room boutique hotel and restaurant that Elm City LLC, Colby's development arm, will own. Portland-based Olympia Cos. will develop and manage the property. Olympia and the college were close to signing a contract as this issue went to press. Olympia also worked on the Hilton Garden Inn in Portland and e Brunswick Hotel & Tavern. e Waterville hotel will have a restaurant that seats about 45 people and a bar that can seat 15. M A P / C O U R T E S Y C O L B Y C O L L E G E Colby 's master plan College, community unite to brighten the lights in downtown Waterville B y L o r i V a l i g r a F O C U S 1 Transform the gateway to downtown 2 Convert traffi c to two-way, improve streetscape and sidewalk design 3 Increase retail activity/economic development 4 Increase residential density to stimulate economic activity 5 Explore a comprehensive parking strategy 6 Relocate the Farmers Market 7 Bring a hotel to Main Street 8 Integrate the arts 9 Develop programming capacity 10 Connect to the waterfront Revitalizing downtown Waterville A four-block section of Waterville is being rejuvenated by Colby College, the town, alumni and other investors. With the addition of retail, office space, residential units, dining options and a hotel, the hope is to transform Main Street into a destination for visitors, residents and new busi- nesses. The first stage calls for the rehab of 173 Main St. (No. 3) S O U R C E : Colby College 10 9 3 4 5 9 8 2 7 8 8 2 6 1 Private investors Colby properties Building key

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