IN DEVELOPMENT

WEBSTER POINT

In 2009, the town of Orono sought a developer to cooperatively identify an appropriate re-use of the Webster Mill property, a crumbling mill dating to before the Civil War located on a spectacular setting at the confluence of the Penobscot River and Stillwater Branch. Developers Collaborative was selected to implement a process that determined that the current building could not be saved, and that the highest and best use for the community was a new mixed-income condominium building.

Webster Point will provide an opportunity for 24 condominium owners to live a carefree lifestyle in a private natural setting, yet within walking distance from both the downtown and the University of Maine. The four-story building, set on nearly 4 acres, is oriented so that every unit owner has a clear view of the water from their private deck even as they relax to the sounds of it tumbling over the falls. 8 units will be affordable to families making up to 120% of the area’s median income. Despite a difficult residential market, reservations have been brisk and a spring 2012 construction start is planned. Demolition and site work are currently underway.

Unit prices range from $179,900 to $299,900.

To learn more about the project click here: www.websterpointorono.com.

FAST FACTS

Location:
5 Shore Drive, Orono

Completion Date:
fall 2012

Project Scope:
24 condominiums

Lead Developers:
Kevin Bunker

Total Cost:
TBD