Developer of The Downs in Scarborough says demand high for housing

Developers of The Downs in Scarborough said construction of the project continues despite the coronavirus outbreak.Developer Roccy Risbara said there is high demand for the next phase of residential properties.“It hasn’t pushed people away from buying,” Risbara said.Risbara said the first phase of The Downs, which includes residential development and a memory care facility, will be completed this month.“We ended up with about a 500-person list from phase 1. Not all buyers not all renters, but people that were interested in The Downs,” Risbara said.The next phase includes 23 single family homes, which have been approved by the town. Within 24 hours of being listed on a site for licensed brokers, 20% were reserved.“I think COVID-19 has possibly changed things in terms of a few more out-of-state buyers now than we probably had,” Risbara said.Another 24 condominiums and 50 apartments are awaiting zoning approval. Due to the pandemic, getting permits has taken longer as the town adjusts to online meetings.“It did impact the approval process, but I want to say the town has been great in trying to move things along. There is criteria we have to meet, and we are meeting them but it takes time,” Risbara said.On the other side of the development the so-called Innovation District has several buildings under construction.WEX, one of Maine’s largest private employers, announced earlier this year that the company will open a $50 million operations center there. “They have given us every indication they are still coming, trying to figure out what their program ought to be at this time,” Risbara said.

Developers of The Downs in Scarborough said construction of the project continues despite the coronavirus outbreak.

Developer Roccy Risbara said there is high demand for the next phase of residential properties.

Advertisement

“It hasn’t pushed people away from buying,” Risbara said.

Risbara said the first phase of The Downs, which includes residential development and a memory care facility, will be completed this month.

“We ended up with about a 500-person list from phase 1. Not all buyers not all renters, but people that were interested in The Downs,” Risbara said.

The next phase includes 23 single family homes, which have been approved by the town. Within 24 hours of being listed on a site for licensed brokers, 20% were reserved.

“I think COVID-19 has possibly changed things in terms of a few more out-of-state buyers now than we probably had,” Risbara said.

Another 24 condominiums and 50 apartments are awaiting zoning approval. Due to the pandemic, getting permits has taken longer as the town adjusts to online meetings.

“It did impact the approval process, but I want to say the town has been great in trying to move things along. There is criteria we have to meet, and we are meeting them but it takes time,” Risbara said.

On the other side of the development the so-called Innovation District has several buildings under construction.

WEX, one of Maine’s largest private employers, announced earlier this year that the company will open a $50 million operations center there.

“They have given us every indication they are still coming, trying to figure out what their program ought to be at this time,” Risbara said.