57 Oxford StreetAugusta, ME 04330Price: $2,757,000

Total 7.3 ac. development site with Kennebec River views, at the Crown of Sand Hill in Augusta, ME, City approved high density residential development district with no height restrictions. Feasibility Plan shows market units at minimum of 102 units. May be as many as 146 units if designed to fit slopes etc. Also, site has a maximum of 460 units if developed as low-income units and should qualify for less parking/unit as abutting development was able to gain Full Major Subdivision approval with City accommodations on certain setbacks and parking requirements, etc. All utilities are available on site and/or at streets already connected to subject property. Developer will need to work with Augusta; zoning, code enforcement and planning board etc. to ensure viability and total number of units proposed to be approved as a major subdivision while moving forward. Augusta is in short supply to the point of desperation, as housing of all types are in desperately short supply. Additional Notes: No restrictions beyond City ordinances and zoning as it pertains to a major sub-division to be built on subject property. Many advantages for development include less square footage per unit required and additional discounts on land requirement if developed as low income, subsidized housing and/or assisted living units.