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3 more businesses join Scarborough’s planned town center
The Portland Press Herald • • business
Key Points:
- Verizon, NBT Bank, and Maine Community Bank have committed to opening locations in the new town center at The Downs mixed-use development in Scarborough, joining other businesses like Market Basket and InterMed.
- The town center project includes over 240,000 square feet of commercial space, with 70% already leased or sold, and features the first mixed-use building, The Breakaway, which combines retail with 76 residential apartments.
- The development aligns with Scarborough’s long-term plan dating back to 2006 to create a true town center, now hosting 700 homes, 50 businesses, and 1,500 employees, with further growth expected.
- Housing projects underway include luxury condos and affordable units for people with disabilities, contributing to Scarborough’s reputation as a leader in diverse housing production in Maine.
- Since the site purchase in 2018, the development has generated over $353 million in assessed value and $4 million in annual property taxes, with projections to increase as the town center phase completes.
