Tuesday’s paper was full of good news for Biddeford: A $15 million housing project, dubbed The Lofts at Saco Falls, and a $50 million complex that includes apartments, a boutique hotel and more are in the works.
The first development, The Lofts at Saco Falls, was awarded tax credits by MaineHousing ”“ a major component of the financial feasibility of this project, according to the developer, Nathan Szanton.
Szanton, a principal of The Szanton Company, said that because MaineHousing will provide $7.5 million in affordable housing tax credits for the 80-unit development, construction is now scheduled to begin in June and be completed in April 2016. The project will utilize buildings within the Riverdam Mill.
Right next door, a local developer, who has headed many successful projects in the area, will create The Lincoln Hotel & Lofts, at what is locally known as the Lincoln Mill. The plan includes approximately 100 market-rate apartments, an 80-room boutique hotel, a rooftop pool with a bar, two restaurants with “leading signature chefs,” a 5,000-square-foot event venue, four meetings rooms, and a 15,000-square-foot, state-of-the art fitness facility for use by both apartment residents and hotel guests.
Tim Harrington, principal of Atlantic Holdings in Kennebunkport, is heading up this project, which is contingent upon approval by the city’s planning board. If plans are approved, Harrington said Atlantic Holdings will purchase the property from its current owner, Odyssey Properties, LLC, in January.
Harrington created The Cottages at Cabot Cove as well as Hidden Pond, both resorts located in Kennebunkport; the latter is also home to a fine dining, farm-to-table restaurant and a spa.
The Lincoln Hotel & Lofts is particularly exciting because of the nature of the development. Downtown Biddeford is in need of a nice hotel, as well as more market-rate apartments and restaurants that can serve three meals a day.
Biddeford is well on its way to becoming a destination in southern Maine ”“ both for young professionals and families and visitors alike. Further development is necessary and will likely explode in the ensuing years.
Despite the failure of the parking meter referendum last month, residents ”“ and especially the city council ”“ will have to deal with this issue sooner rather than later. A parking structure will be needed to serve all the new residents and visitors to these new developments, and, hopefully, the staff and customers of businesses that continue to locate in the downtown and renovated mills.
Biddeford has a bright future ahead of it, and it would be a shame for people who are stuck in the past to stand in the way.
— Robyn Burnham Rousseau is the city editor in the Journal Tribune newsroom.
Comments are not available on this story.
Send questions/comments to the editors.
