Abigail Henderson / May 10, 2019
source: Boston Real Estate Times on: April 9, 2019 by: Boston Real Estate Times
SCARBOROUGH, Maine – The Town of Scarborough’s Planning Board has granted preliminary approval for Crossroad Holdings’ Innovation District – a 154-acre subdivision to become the future home of light industrial, manufacturing, tech commercial and retail end-users.
The Innovation District is located at the northernmost section of the property, abutting Payne Road. The board’s preliminary approval is a key step in the permitting process and enables the project to proceed to final design.
“We’re very pleased because it gives interested end-users the needed confidence to move forward,” Crossroads Holdings Principal, Roccy Risbara said. “Our team has worked very hard to ensure that the Innovation District stimulates economic growth and job creation in a manner that the Town desires. As we’ve always said, we want to do this right and we mean it.” Risbara added.
The Innovation District will house three commercial gateway sites, up to 54 subdivided lots, and will preserve nearly 55 acres of open space. The property is bicycle and pedestrian friendly – with sidewalks and walking trails that will carry pedestrians throughout the property, provide a link to the future town center and connect to neighboring conservation lands.
“We’re pleased with the progress to date,” says Town Planner Jay Chace. He adds that “the developers have provided features to make this district an attractive commercial gateway that is consistent with the town’s standards, while also creating a walkable and friendly commercial area once you’re inside.”
A residential phase of development at the property’s southernmost section is underway. This phase includes 30 single-family homes, 16 duplex cottages, 32 condominiums and 48 apartments. Within just a few weeks, more than 50-percent of the units have been sold or put under contract.
The Boulos Company is accepting reservations on the 57 ready-to-build lots within the Innovation District. They will become available in July of 2019 once they’re fully permitted.