375 391 Civic Center Drive
Augusta, ME 04330
- – beds
- – baths
- – sqft
- ~15 acre lot
- – on site
This exceptional opportunity presents a pre-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 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 Augusta Marketplace shopping area and job sites, elevated building, outdoor social areas with fire pits, easy access to walking/biking paths and Concord Trailways Bus Station.
Last checked:
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Last updated Mar 13, 2025
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MLS# 1616104 —
The Building
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Year Built:None
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New Construction:No
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Architectural Style:None
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Roof:None
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Basement:None
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Foundation Details:None
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Direction Faces:None
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Window Features:None
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Building Features:None
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Exterior Features:None
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Patio And Porch Features:None
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Security Features:None
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Accessibility Features:None
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Green Energy Efficient:None
Interior
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Rooms Total:None
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Interior Features:None
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Fireplaces Total:None
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Fireplace:No
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Fireplace Features:None
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Laundry Features:None
Room Dimensions
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Living Area:None
Financial & Terms
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Rent Includes:None
Location
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Directions:None
The Property
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Property Condition:None
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Property Subtype:None
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Lot Features:Open Lot, Near Shopping, Near Turnpike/Interstate
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Lot Size:656,884 Sqft
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Lot Size Area:15.08
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Lot Size Acres:15.08
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Lot Size Units:Acres
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Lot Size Source:Public Records
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Lot Size Dimensions:None
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Zoning:Contract Zone
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Property Attached:No
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Current Use:None
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Possible Use:None
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Topography:None
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Waterfront:false
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Fencing:None
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Road Surface Type:Paved
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Other Equipment:None
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Land Lease:No
Listing Agent
- Contact info:
- Agent phone:
- (603) 770-5199
- Office phone:
- (603) 232-8282
Taxes
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Tax Year:2025
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Tax Annual Amount:$1
Beds
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Bedrooms Total:None
Baths
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Full Baths:None
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Three Quarter Baths:None
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Half Baths:None
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Partial Baths:None
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Quarter Baths:None
The Listing
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Virtual Tour URL Branded:None
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Home Warranty:No
Heating & Cooling
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Heating:None
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Cooling:No
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Cooling:None
Utilities
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Electric:On Site
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Sewer:Public Sewer
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Water Source:Public
Appliances
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Appliances:None
Schools
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Elementary School:None
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Middle Or Junior School:None
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High School:None
The Community
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Spa:No
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Spa Features:None
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Pool Private:No
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Pool Features:None
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Community Features:None
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Association Amenities:None
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Association Fee Includes:None
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Association:false
Parking
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Garage:No
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Attached Garage:No
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Garage Spaces:None
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Carport Spaces:None
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Parking Features:No Driveway, 21+ Spaces, On Site
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/13/25
Mar 13, 2025
|
Listed / Active | MREIS | $6,500,000 |
