MRRA Closes Property Deal with Priority Real Estate Group
Topsham Developer Jim Howard Buys 2 Buildings for School for Autistic Children
The Midcoast Regional Redevelopment Authority has completed sale of two buildings and 3.25 acres of land to the Priority Real Estate Group of Topsham. Priority has purchased the former Navy Lodge (Building 31) and the former Navy Recreation Center and Bowling alley (Building 583) for $1.1 million.
The two buildings sit next to one another on the northwest corner of Pegasus Street and Burbank Avenue. Together, the buildings offer nearly 35,000 square feet of space. They will be used by the Providence Service Corporation as a school for autistic children and its administrative offices.
“We’re pleased to work with MRRA and to bring Providence Services Corporation to Maine,” said Jim Howard, President of the Priority Real Estate Group.
Although the closing of the sale occurred on July 26, Priority has been working on rehabbing the buildings since June so that the deadline of Sept. 1st to move Providence into the new offices could be met. Howard says up to 100 jobs will be created by Providence and up to 90 students will attend the school. Providence Service Corporation has offices in 48 states.
This latest property sale increases the total amount of land sold by MRRA to 260 acres or approximately one third of the 722 acres of non-airport land transferred so far by the Navy for economic development.
“That’s our goal, to get these properties into the hands of private developers who will improve their value and increase economic activity here,” MRRA Executive Director Steve Levesque said. “Priority and (president) Jim Howard have been tremendous to work with. We were pleased to be able to turn the buildings over to them earlier so they could begin renovations. Things are moving along nicely from what we can see. This will add a lot to the vitality of Brunswick Landing.”