Unique 55 Acre Development Parcel - Opportunity Zone
|Catylist Listing ID:
Multi-Family, Residential (Single Family)
|Gross Land Area:
||$40,000 Per Acre
|In Opportunity Zone?
||Cash to Seller
Overview / Comments
We are pleased to present this excellent 55 +/- Acre development parcel located in an "Opportunity Zone" near downtown Bangor for sale. This is a totally unique large expanse of land located in an upscale neighborhood that is close to Northern Light Eastern Maine Medical hospital with easy access to downtown businesses, the Bangor Mall area, and I-95. The property has public sewer access in place already, running North-South. The wooded characteristics of the parcel provide opportunities for buffers and attractive open space.
The property has 126 feet of frontage on Mt. Hope Ave, 311 feet on Garland Street, and 60 feet on Bellevue Street.
Given the size of the property, new 8 units/acre per current zoning would allow for over 300 units of housing because of the size of the parcel. Broker has discussed the property with City officials and believes it is possible to get multi-family development approved as a way of concentrating a large number of units with more open space.
||Map R63 Lot006
|Largest Nearby Street:
||State Street & Hogan Rd
||The site is primarily accessible from Mt. Hope Ave, but has frontage on Garland Street and Belleve Street. Abuts Saxl Park on East side of parcel. Site is wooded with small trees and there are two seasonal stream beds running North/South across the property. These may create topographical issues related to development, however single or multi-family units could still be configured on the property.
||Urban Residential District 1 Permitted uses: single family dwellings (density 4 units/acre), home occupations or professions, small day-care center. Conditional uses: places of worship, nursing homes.
||Public Sewer 12'' gravity fed running across the property from Mt Hope Avenue to Garland Street.
||Electric, Water, Gas, Sewer, Internet Access
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