October 21, 2017
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Plan for Augusta arsenal’s redevelopment in question

The Associated Press

AUGUSTA, Maine — Plans for redevelopment of a 19th Century historical site in the middle of Maine’s capital city is in question as its granite buildings fall prey to vandals.

North Carolina-based developer Niemann Capital made a deal with the state in 2007 to upgrade the Kennebec Arsenal site, which consists of several buildings where munitions were made and soldiers were billeted. Niemann promised to restore the property for residential and small commercial uses.

But the Kennebec Journal says the riverside property remains untouched except by vandals, who’ve been smashing windows, breaking through doors and they started a fire at the site.

Developer Tom Niemann says his company is still interested in developing the site, but financing for residential sites is hard to find amid a difficult real estate market.

 


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