Brown's Mill Historic Rehab Opportunity

Investment Overview

Brown's Mill Historic Rehab Opportunity offers a serene setting approximately 25 minute drive to I-95. The highest and best use of the property is likely affordable housing using a combination of the LIHTC program in combination with state and federal tax credits. Dover Foxcroft is a unique sub-regional town with a combination public and private academic secondary school. There are new indoor hockey and track facilities. With easy access to the bustling Bangor market with attractions such as the Bangor Mall, the Foxwood Casino and the Cross Insurance Center, all of which contribute to the area's vibrant economy. Additionally, the Bangor International Airport provides convenient travel connections for potential tenants or visitors. For those seeking outdoor adventure, the property is ideally situated just 30 miles south of the stunning Moosehead Lake region, offering abundant recreational opportunities and natural beauty. With the potential for eligibility for LITHC funding from MaineHousing, this prime location presents an ideal opportunity for redevelopment for nivestors looking to capitalize on the unique blend of small-town charm, urban convenience, affordable housing eligibility, and historic tax credits..

Investment Highlights

• 63,000 SF historic brick building
• Renovated in 1912 with modern amenities
• Eligible for state and federal historic tax credits
• Architectural plans for 46 residential units available
• EPA funded Brownfield Study recently completed
• Excellent structural condition
• Zoned VILLAGE for flexible use
• Located in the Bangor area