10 of 57 lots at Innovation Park, a mixed-use commercial subdivision, have already been reserved, with 40 other parties in various levels of discussion.
July 24, 2019 – SCARBOROUGH, Maine – Innovation Park at The Downs, a 154-acre mixed-use commercial subdivision listed by The Boulos Company, has made it through the Scarborough planning board, bringing ten companies one step closer to breaking ground on the lots they have reserved, and bringing several other parties to the table with serious interest in the site.
Innovation Park will be Scarborough’s first mixed-use business park in 25 years. It includes three commercial gateway sites and up to 54 subdivided lots for light industrial, technology, manufacturing, commercial and retail end users. At full buildout, the district will be valued at an estimated $100 million and has the potential to become a major Scarborough employment hub.
The Boulos Company has secured reservations on 10 of the 57 total sites and broker Jon Rizzo is in various levels of discussion with 40 other interested parties, including some out-of-state businesses that have been priced out of larger, more expensive cities.
Two Westbrook companies that have outgrown their current spaces, Pine State Services and Zoom Drain, will move their 100+ employees to The Downs. “We chose this spot because of its proximity to I-95 and the ‘live-work-play’ dynamic,” said Pine State Services CEO Sam Marcisso, citing the idea of employee benefits and recruitment tools like able to walk to lunch, or even walk home if they choose to live at The Downs. The first residential phase of the development is nearly sold out, with some residents moving in this summer.
The district will be a walkable space with 55 acres of green space and walking trails connected to the entire property, plus easy access to major roadways and public transportation. Scott Giles, CEO of Scorebuilders, a company that creates educational tools for physical therapists and has also reserved a lot at The Downs, said the nearby Town Center, green space, and walking trails were major factors in the company’s decision. “There was plenty of warehouse space available to us, but nothing that also felt creative,” said Scorebuilders CEO Scott Giles. “It was important to us that we were not in space that looked and felt like a traditional industrial park.”
Roccy Risbara of development company Crossroad Holdings is encouraged by the early interest. “This pace signals that we’ll be able to speed up other portions of development within the master plan, including the Town Center,” Risbara said.
The entire development at The Downs spans 525 acres and three planned development areas with residential, commercial, and recreational components. Innovation Park is located in the northernmost section of the development, abutting I-95 and Payne Road. All lots within Innovation Park will be pre-permitted and ready to build on, with on-site utilities. Developers plan to break ground in the coming weeks.
In addition to the lots available for purchase, developers also plan to build 2,500 square feet of professional incubator space to support small businesses and startups. Property management company MR Holdings will manage and lease the incubator units.
