Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Thursday, March 12
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Property»Sale of former Martel School property in Lewiston nearing closing
    Property

    Sale of former Martel School property in Lewiston nearing closing

    August 21, 20243 Mins Read


    A concept image shows what 88 units would look like after a second phase is completed at the former Martel School property at 960 Lisbon St. in Lewiston. Sale of the property to Lewiston Housing is expected to be finalized in the next 60 days, with construction on the first 44 units to begin in the spring of 2025. City of Lewiston

    LEWISTON — The sale of the former Martel School property on Lisbon Street will take place within the next 60 days, marking the final stages of a lengthy and sometimes controversial effort to redevelop the property into senior housing.

    The City Council approved a final amended option agreement Tuesday between the city and Lewiston Housing, which is purchasing the property for redevelopment.

    Officials said the issue with the property title, which slightly delayed the sale, had been resolved, and that an option agreement for the sale of the property will be exercised Wednesday.

    According to Lincoln Jeffers, director of economic and community development, that means the parties have 60 days to complete the transaction.

    Officials from Lewiston Housing said the title issue will not impact the construction schedule. Work on the first phase of 44 units is expected to begin in the spring of 2025.

    A council memo indicated that the issue stemmed from the deed for 860 Lisbon St. containing restrictions limiting the use of the parcel to a school. The memo says the city and Lewiston Housing believe the issue has been resolved but signed an agreement Tuesday regarding the sharing of possible expenses that “could be necessary at some point in the future” to defend title to the premises or have a court order that “the restrictions are satisfied or otherwise no longer in effect.”

    Some at the meeting Tuesday described the issue as another in a series of delays for the senior housing project.

    Lewiston resident Matt Roy questioned why “no one bothered to read the deed documents” when the Martel School property was transferred to the city in 2019.

    “Where was the due diligence on this?” he asked.

    Louise Samson, who has been closely following the redevelopment talks, said she didn’t understand the “malarkey” surrounding the sale, but questioned whether the issue would delay construction.

    “This is very important, we have to get this going,” she said.

    On Wednesday, Mayor Carl Sheline said, “I appreciate our city staff and Lewiston Housing working through these issues to get this project across the finish line. We need senior housing in our city and I’m glad we’re moving forward.”

    The development will mark the first new senior housing in Lewiston in years, but it has been a long road to reach this point.

    The city entered into a two-year option agreement with Lewiston Housing in 2020. However, the council eventually decided to explore other options due to uncertainty around affordable housing development. Developer Dave Gendron expressed interest in a commercial development, but many city officials and residents pushed for senior housing.

    In the spring of 2023, Lewiston Housing was again chosen to redevelop the property.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleHomebuilders have had the upper hand in the housing market. Lower rates may change that.
    Next Article Too much ‘over-dramatisation’ on EPC targets for …

    Related Posts

    Property

    UK real estate offers DC pension savers ‘transparent’ private market solution

    March 11, 2026
    Property

    Top UK property firm takes over leading Scottish company

    March 10, 2026
    Property

    Intel UK’s former Swindon HQ acquired by MCR Property Group – £130m residential-led redevelopment proposed

    March 9, 2026
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Bitcoin

    Will bitcoin keep dropping? Why this technical analyst is eyeing a turnaround as soon as Tuesday.

    December 1, 2025
    Stock Market

    Dow, S&P 500, Nasdaq futures climbed as Senate confirm Trump’s Fed pick Miran

    September 16, 2025
    Stock Market

    S&P 500 and NASDAQ Rise After ISM Manufacturing Rebound Lifts Investor Confidence

    February 2, 2026
    What's Hot

    Bitcoin se consolide près de Peak alors que les experts macro œil déclenchent

    May 29, 2025

    Lazarus convertit 500 millions de dollars en Ethers volés en Bitcoin via ThorChain

    February 28, 2025

    Bitcoin Chart Signals Drop Below $117K Before Upside Continues

    August 11, 2025
    Most Popular

    Dow Jones Top Markets Headlines at 9 PM ET: U.S. stock futures flat following Friday’s Fed-fueled rally | Trump’s …

    August 24, 2025

    Mineral Commodities reçoit un paiement partiel dans le cadre de la vente de son projet en Norvège

    July 8, 2025

    Florida ban on Chinese-owned property, sea goddess ceremony concern: SCMP daily highlights

    November 5, 2025
    Editor's Picks

    Bitcoin treasury narrative gets ‘annihilated’ for firm as stocks collapse over 96%

    September 16, 2025

    Sensex slips 100 points, Nifty holds 26,100; BEL, Eternal top movers

    January 7, 2026

    Bitcoin Price Could Crash to $104K Before Explosive Rally

    September 25, 2025
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2026 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.