$15M housing project revived at Riverdam mill
Stephen Goodrich, the new owner of the Riverdam Mill complex in Biddeford, yesterday said he has sold one of the mill buildings to a developer with plans for a $15 million housing project.
Goodrich, CEO of the Portland payment processing company PowerPay, sold an 80,000-square-foot building in the mill complex to Maine Workforce Housing for an undisclosed amount, according to a press release from Goodrich’s development company, Riverdam LLC. Maine Workforce Housing, led by Nathan Szanton and his business partner, Robert Monks of Portland, will resume a plan begun two years ago to construct 66 mixed-income residential rental units at the Riverdam Mill. The housing project, estimated to cost more than $15 million and generate more than 100 construction jobs, is scheduled to begin in August.
Goodrich purchased the Riverdam Mill at public auction last December for $500,000. Goodrich said he will work with the city on the remaining phases of the mill's redevelopment plan, according to the release.
Read more about Goodrich's real estate buys in, "An optimist gambles on high-profile properties," from the Feb. 9, 2009, issue of Mainebiz.
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