Waterville downtown revitalization to get $20M 'jump start'

Courtesy / Billy Hathorn, Wikimedia Commons Colby College and the Harold Alfond Foundation announced on Tuesday night that they would donate a combined $20M for revitalizing downtown Waterville, seen here in a 2014 photo.

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By Staff

Downtown revitalization in Waterville came out big on Tuesday night when the Harold Alfond Foundation and Colby College announced an additional $20 million toward the ongoing revitalization efforts in the city.

The multimillion dollar boost is coming in the form of a $10 million grant from the Harold Alfond Foundation, which was matched with an equal amount from Colby College.

“When this community steps forward and rolls up its sleeves, the foundation will step up to match your efforts,” Greg Powell, board chairman of the Harold Alfond Foundation, told a group gathered at the annual Harvest on the Square event in Waterville, according to a news release.

The $20 million in funds will be used to jump start and continue projects on the city’s Main Street. Colby has already purchased five vacant downtown buildings that it plans to redevelop. Included in those five buildings is the former Levine’s clothing store, which is currently undergoing demolition to make way for a 42-room boutique hotel and restaurant.

A new student housing complex is also in the works in downtown Waterville and the former Elks building on Appleton Street has been razed to make way for additional parking at the north end of Main Street as part of ongoing revitalization efforts.

“A year ago we talked about what was possible,” David A. Greene, president of Colby, told the group on Tuesday. “Today we get to talk about what is going to become real.”

Photo: Billy Hathorn/Wikimedia Commons

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