Reveler Development, a leading real estate investment, development, construction and management company, recently welcomed officials from the Southern Maine Planning and Development Commission (SMPDC) and the Greater Portland Council of Governments (GPCOG) to The Levee, Reveler’s latest mixed-use redevelopment in Biddeford. The event provided an opportunity for Reveler to showcase the significant impact of Brownfields funding on the site and to speak to the importance of local partnerships in developing strong housing communities.
The Levee is comprised of four distinct developments along the Upper Falls Road peninsula and sits within walking distance from the upcoming Pearl Point Park and scenic RiverWalk. Developed to create a vibrant downtown destination, The Levee includes two notable projects funded by Brownfields grants: Lofts on the Levee and The Foundry.
Lofts on the Levee, the site’s flagship property, was redeveloped into a modern residential community with 90 apartments and a self-storage facility on its lower floors. The building was previously the historic Saco-Lowell Mill, which produced textile machinery until it closed in 1959, leaving behind a vacant, underutilized building. Further down the peninsula sits The Foundry, which is currently under construction. The Foundry will turn a 22,000 square foot warehouse space into a premier riverside retail and dining experience thanks to a nearly $2.5 million Brownfields funding loan. Alongside these two adaptive reuse projects, Reveler is also currently developing Landing on the Levee—which will sit adjacent to The Foundry and is The Levee’s first for-sale offering. This will be followed by the final phase of development, which will add 80+ new apartments to the community.
The impact of Brownfields funding on the site, which Reveler received through SMPDC’s Revolving Loan Fund, has been instrumental in transforming The Levee into a mixed-use, riverfront community that serves residents, neighbors, and visitors. As the site called for the redevelopment of two historic structures, grant funding was vital – enabling Reveler to preserve historic features and tackle additional development challenges that arise from adaptive reuse projects.
“There’s soil contamination, there’s vapor barriers; we’ve also been able to support the replacement of windows and roofing materials because of the hazardous materials that were in the original structure, which is an example of some of the more creative ways to use the Brownfields RLF program,” said Raegan Young, SMPDC Brownfields Coordinator. “These are both really exciting projects for us. They check a lot of our boxes in terms of creating jobs, creating housing in the region. And it also checks the box of being a priority of the city.”
(SMPDC and GPCOG officials tour The Foundry)
Biddeford’s transformation over the last decade is undeniable, with more than $200 million in investments and the opening of 150 new businesses in the Mill District. As Maine’s youngest city, with a median downtown age of just 29, Biddeford continues to solidify itself as a vibrant, historic community to live and work with its thriving arts scene, award-winning cuisine, access to the seacoast, and growing business landscape.
“At Reveler, we like to look for projects that supplement the existing infrastructure of a community, which this site does very well. By bringing this mix of uses and extra housing, we can help this region continue to flourish,” said Reveler CEO John Laliberte. “But projects like this require good partnerships, and I’m proud to say this is a really good example of what’s possible when those kinds of partnerships come together. It’s rewarding to see this final product and to have a gathering like this in a building that was neglected. Something that stood vacant for so long is once again a very proud focal point of a historic city.”
For more information on Reveler’s projects, please visit www.reveler.com. To learn more about Biddeford’s growth, visit Biddeford: Thought You Knew Biddeford? Think Again.
