375-391 Civic Center Drive, Augusta, ME 04330
Local realty services provided by:Better Homes and Gardens Real Estate The Milestone Team
375-391 Civic Center Drive,Augusta, ME 04330
$6,500,000
- 15.08 Acres
- Lots / Land
- Active
Listed by:doug martin
Office:keller williams realty-metropolitan
MLS#:4986918
Source:PrimeMLS
Price summary
- Price:$6,500,000
About this home
This exceptional opportunity presents a fully-approved site for a 250-unit multi-family rental housing development that is "Shovel Ready." The package includes a significant property tax reduction and architectural plans, along with two street front Retail / Commercial sites valued at a total of $750,000. Situated approximately 4,000 feet west of I-95 on Civic Center Drive, at the intersection of Leighton Rd. The current approved plans feature 125 X 1 Bed Jr, 118 X 1 Bed, and 8 X1 Bed plus units, along with 36 covered garage spaces. While the residential configuration and site plan can be adjusted, the plan has been meticulously crafted by a renowned architectural firm to mirror the projects in Biddeford and Lebanon, NH. The approvals from both the City and State for Tax Increment Financing and a Credit Enhancement Agreement (TIF/CEA) will reduce property taxes by approximately 65% for 25 years, yielding over $315,000 annually to the Net Operating Income (NOI). The State Department of Environmental Protection (DEP) has pre-approved the project under the Site Location Development Act (SLODA), enabling immediate construction commencement without facing a delay of up to one year. The project is inspired by "The Marek" concept pioneered by Saxon Partners, implemented in various communities across the East Coast and as far west as Colorado. It boasts amenities such as a fitness center, home office area, bistro bar, secure bike and package storage, sidewalks to the nearby Augu
Contact an agent
Home facts
- Listing ID #:4986918
- Added:413 day(s) ago
- Updated:August 08, 2024 at 11:41 AM
Structure and exterior
- Lot area:15.08 Acres
Utilities
- Sewer:Public Available
Finances and disclosures
- Price:$6,500,000
Copyright 2025 Prime MLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of Prime MLS. The information being provided is for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated September 25, 2025New listings near 375-391 Civic Center Drive
- New
$225,000Active3 beds 1 baths945 sq. ft.191 Cony Street, Augusta, ME 04330
MLS# 1638866Listed by: BROOKEWOOD REALTY - New
$325,000Active3 beds 2 baths1,812 sq. ft.11 Outlet Road, Augusta, ME 04330
MLS# 1638844Listed by: HOANG REALTY - New
$289,900Active2 beds 1 baths952 sq. ft.205 Sewall Street, Augusta, ME 04330
MLS# 1638785Listed by: BROOKEWOOD REALTY - Open Sat, 11am to 3pmNew
$825,000Active4 beds 2 baths2,336 sq. ft.53 Hayden Road, Augusta, ME 04330
MLS# 1638671Listed by: LAER - New
$349,000Active4 beds 2 baths2,368 sq. ft.16 Murray Street, Augusta, ME 04330
MLS# 1638649Listed by: KELLER WILLIAMS REALTY - New
$89,900Active1 beds 1 baths580 sq. ft.71 Boothby Street, Augusta, ME 04330
MLS# 1638602Listed by: BROOKEWOOD REALTY - New
$189,000Active2 beds 2 baths850 sq. ft.39 Albert Avenue #8, Augusta, ME 04330
MLS# 1638579Listed by: CENTURY 21 VENTURE LTD. 
$359,900Pending3 beds 1 baths1,792 sq. ft.45 Haskell Haven Road, Windsor, ME 04363
MLS# 1637989Listed by: COLDWELL BANKER PLOURDE REAL ESTATE- New
$235,000Active-- beds 3 baths2,388 sq. ft.9 Gannett Street, Augusta, ME 04330
MLS# 1637933Listed by: KELLER WILLIAMS REALTY 
$345,000Pending3 beds 2 baths1,284 sq. ft.40 Village Circle, Augusta, ME 04330
MLS# 1637853Listed by: SPRAGUE & CURTIS REAL ESTATE
Protect your home and budget with an American Home Shield© home warranty. Learn more© 2025 Better Homes and Gardens Real Estate LLC. An Anywhere Real Estate company. All rights reserved. Better Homes and Gardens® Real Estate is a registered trademark owned by Meredith Operations Corporation, licensed to Better Homes and Gardens Real Estate LLC and used with permission. Better Homes and Gardens Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Listing information is deemed reliable but is not guaranteed accurate.
Each office is independently owned and operated.
Any services or products provided by third parties are not provided by, affiliated with or related to Better Homes and Gardens Real Estate LLC, or its affiliated companies.