Westbrook developer pitches $60M+ arena
A developer wants to build a new 8,000-seat arena for concerts and sports events in either Portland or Westbrook and renovate the Cumberland County Civic Center into a convention center.
Jason Snyder told the Portland Press Herald he wants to do these projects in conjunction with his proposed $300 million Stroudwater Place, a 1.6 million-square-foot retail and commercial development approved by Westbrook officials in 2008. Snyder told the newspaper the 150,000-square-foot arena would be located on a 63-acre site in Portland or a 60-acre site in Westbrook between Maine Turnpike exits 46 and 47. Snyder owns both parcels.
Snyder said he would seek to make the Portland Pirates the flagship tenant, and would make the arena available for other teams like the Maine Red Claws and for concerts. A Portland arena would cost $68.7 million and a Westbrook arena $63.1 million, paid for through bond financing, bank financing and private investment. He told the paper he plans to meet with county officials next week to discuss financing options. Snyder also said he commissioned his own study to retrofit and renovate the civic center and he believes it would cost $30 million to convert it to a convention center.
The newspaper reported that Snyder has pitched his proposal to officials in Portland and Westbrook; the Cumberland County commissioners; Brian Petrovek, the Pirates' CEO and managing owner; and Mark Maroon, vice chairman of the civic center's board of trustees. Portland economic development director Greg Mitchell told the paper the city needed more details on the project, while Petrovek said the Pirates are considering multiple options for a permanent home.
Go to the article from the Portland Press Herald >>
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