Moosehead Lake corporation, Lakeshore Ventures ink deal for redevelopment project
GREENVILLE — The Moosehead Lake Region Economic Development Corporation (MLREDC) has agreed to terms with Lakeshore Ventures, LLC for the acquisition and redevelopment of a key piece of waterfront property in downtown Greenville.
The deal with Lakeshore Ventures, LLC, involves the acquisition of property at the intersection of Pritham Avenue and Lakeview Street. The partners of Lakeshore Ventures, LLC, Richard Brown and Telford Allen, share the same vision of redeveloping the property consistent with the principles illustrated in the Greenville Downtown Plan. Accordingly, over the next few years, they will work with the existing tenants on the property, adjacent property owners, the town of Greenville and the MLREDC to realize the vision.
In February, the MLREDC entered into a purchase option agreement with A and E Properties, LLC (EJ and Stuart Richardson) to acquire approximately 1.2 acres of land at the corner of Pritham Avenue and Lakeview Street. The purpose of this agreement was to assist with the revitalization of downtown Greenville through the adaptive redevelopment of the Pritham Avenue parcel and the long-term preservation of a portion of the Lakeview parcel for public greenspace.
“We are very excited that this project has come together so quickly,” said Steve Levesque president of the MLREDC. “We are very thankful that the Richardson’s were interested in working with us to facilitate this project. And we couldn’t be happier with the quality business investors that have come forward and who share our vision for a revitalized downtown Greenville.”
With this key parcel being acquired and soon to be redeveloped, the MLREDC will start raising funds to support the acquisition and preservation of the Lakeview parcel to support permanent greenspace and other related amenities on this last remaining open space parcel in downtown Greenville.