Reservations pour in for Scarborough business park
Courtesy / Crossroads Holdings LLC
A map of The Downs development in Scarborough, which includes a business park that's filling up fast.
Plans for Maine's first mixed-use business park in 25 years are progressing quickly, with only seven lots still up for grabs inside The Downs in Scarborough.
Known as the Innovation District, the 154-acre subdivision will be a core part of a multi-purpose development that will also include a residential area and 200 acres of trails and preserved land.
Earlier this week, the district won approval from the Scarborough's Planning Board as reservations poured in from businesses.
As of this week, Crossroads Holdings LLC reports 10 lots under reservation in the Innovation District and more than 40 interested parties for the remaining lots out of 57 total, leaving only seven still for the taking.
A spokesperson for Crossroads Holdings told Mainebiz that the 40 interested buyers are in varying stages of discussion with The Boulos Co.
She also underscored that the 40 prospective buyers have not yet put in formal reservations on the lots, so they are technically still available.
"This phase has quickly attracted end users, including out-of-state companies that are being 'priced out' of more expensive cities," said developer Roccy Risbara. "This place signals that we'll be able to speed up other portions of development within the master plan, including the Town Center."
In an "On the Record" interview with Mainebiz last October, he said that the developers are taking on a project of that magnitude because they see it as important and "we want to get it right."
The future Innovation District is located in the northernmost section of the 525-acre property. At full buildout, the Innovation District will be valued at more than $100 million and is slated to become a major employment hub.
Two Westbrook companies, Pine State Services and Zoom Drain, have outgrown their current digs and will move more than 100 employees to The Downs, while Ducas Construction and Scorebuilders plan to relocate from elsewhere in Scarborough.
There are also plans to build a professional incubator space for small businesses and startups. MR Holdings, the developers' management firm, will construct a leased 2,500 square feet of commercial units.
Asked about the next milestone, the Crossroads Holdings spokesperson said the next step is for each buyer to take their individual site and building plans to Scarborough's Planning Board.
And at the southern most end of The Downs, the first phase of residential property is nearly sold out, with the first residents expected to move in this summer.
In the meantime, there's still harness racing at Scarborough Downs, which is still run by the Terry family after selling the 525-acre property to Crossroads Holdings. On Saturday afternoon, 11 races are scheduled.
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