NORTHLAND Enterprises is renovating the old Sanford Mill turning it into 36 residential loft apartments and 22,000 s/f of comerical space for lease. CHECK OUT WEBSITE AT www.Sanfordmill.com
The $10.5 million Sanford Mill project will renovate the historic Sanford textile mill in Maine. The project is financed via a grant from the Maine Department of Economic Development and HUD's Neighborhood Stabilization Program III, debt from Bangor Savings Bank and Coastal Enterprises, Southern Maine Region Planning and the US Dept of Environmental protection, a TIF from the city of Sanford, and the sale of historic tax credits to Tax Credit Capital and Coastal Enterprises.
This project will result in more than 22,000 square feet of commercial office/retail space and 36 residential units with 9 units reserved for tenants at 50% of AMI and the other 27 leased to tenants at 120% of AMI. All tenant applications will require a credit and background check. The project will create 150 construction jobs and provide space for more than 75 potential office/retail employees.
The historic rehabilitation of the property will reuse the significant early twentieth century architectural features of the building while upgrading the building systems to exceed those found in many newly constructed buildings
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