(Saco, Maine) One of the principal developers of key commercial real estate holdings on Saco Island announced today that a $100,000 improvement project is nearing completion. (CLICK HERE for video summary.)
“We’ve been working on repair and upgrade of the mezzanine, the walkway that connects the buildings that front Main Street to the commercial spaces out back, known collectively as Unit 91,” said Sam Zaitlin, director of development at Saco Island. ”The project is about 90% completed, with some finishing touches still to be added in the spring, once the weather improves.”
The City of Saco owns Unit 91, and Zaitlin said the mezzanine improvements should make the sale of Unit 91 more attractive. The mezzanine was originally built during an attempted redevelopment of the island’s mill buildings that was abandoned in the 1980s. Zaitlin’s company has granted a non-exclusive and perpetual easement to the city, that allows use of the mezzanine across the entire length and width of the structure for the express benefit of the City of Saco and its citizens. Free access to the mezzanine applies to what are known as Building 1, Building 2, Building 3 and Building 7, and also to the new pedestrian bridge that connects downtown Saco to downtown Biddeford.
Saco Island also gifted an easement in 2014 that allowed the construction of a new pedestrian bridge between downtown Biddeford and Saco. The structure allows pedestrians to travel between downtown districts much more easily.
Zaitlin noted that the completed Saco Mill #4, a $40 million development project on the east side of Saco Island, construction of the pedestrian bridge, the mezzanine improvements and impending construction of the Saco SmartLofts above The Run of The Mill Public House & Brewery all signal development momentum on the island that is now irreversible.
“The average person doesn’t realize how complex and difficult redevelopment on this scale is,” Zaitlin said. “But I think it’s plain to see that very positive things are happening, and Saco could win a reputation as one of the hottest redevelopment markets in the northeast.”