“Biddeford, ME Reveler Development has closed on project financing and commenced construction at The Foundry, an upcoming retail and dining destination along the Saco River. The Foundry represents the next phase of development at The Levee, downtown’s newest community landing. Located at 30 Upper Falls Rd., The Foundry will feature 22,513 s/f of commercial space with riverfront views in a historic, redeveloped structure.
The development costs of the project total over $8 million. In addition to investor equity, project financing includes a primary loan through Kennebunk Savings, a bridge loan and historic tax credits through CEI, and Brownfields funding through the Southern Maine Planning and Development Commission’s Revolving Loan Fund.
“The Foundry will offer something entirely unique to downtown Biddeford’s retail and dining landscape,” said John Laliberte, CEO of Reveler Development.”