(Augusta, Maine) Late in 2012, Augusta East Redevelopment Corporation, LLC announced that it had signed a purchase and sale agreement with MaineGeneral Health to buy and redevelop the organization’s physical property on East Chestnut Street. The sale price was $2.5 million. Today the company launched a revamped web site (on which this blog entry is published), giving Augusta residents a convenient way to keep informed about progress at the site adjacent to the Kennebec River in Augusta. Leading the project is commercial real estate developer Kevin Mattson. Today Mattson published a YouTube video, available at this link, in which he invites residents to submit their feedback in the coming weeks and months years as redevelopment proceeds.
MaineGeneral is leaving its former location because it is building a regional, 640,000 square-foot hospital on the west side of the city. When that project is complete and MaineGeneral’s operations move to the new $312 million hospital, one of Augusta’s largest building complexes would have been left vacant, had not a buyer stepped forward.
“This would have been, by far, the largest empty building in Augusta’s downtown, and we’re very excited to step up, redevelop the property, and make it a vibrant new addition to the city’s economy,” Mattson said in December, upon announcing purchase of the property. “I know a lot of folks were worried that the complex would be a white elephant once the hospital moves, but I think we and MaineGeneral have found a solution, and a very positive outcome.”