Entire Block In Downtown Bangor Sells To One Owner
An entire block of buildings in Downtown Bangor has sold to a single company that develops luxury apartments.
The buildings that sit on Exchange Street, between State and York Streets went up for sale earlier this year. While technically six buildings, they were viewed as one unit since all the buildings are connected. Historically, the buildings have been used for commercial purposes, one of them once housing Bangor Hydro, which is now Emera Maine. They are zoned for commercial use.
The new owners, ANM Properties of Bangor, closed on the deal today. There's no word on what the terms of that sale involved. But CEO Adam Moskovitz said the folks at ANM Properties are excited about becoming a part of Downtown Bangor.
"We saw the sale of these buildings as a unique opportunity to continue the growth of activity in Downtown Bangor, and we're anxious to help make that happen."
There's no word yet on how the buildings will be used. But ANM Properties' website describes them as providing 'luxurious rentals for families and professionals.' The company has residential rental properties around the city. City of Bangor Economic Development Director Tanya Emery says city officials are looking forward to seeing redevelopment plans 'as they continue to progress.'
The new owners will be releasing more details soon on the future for the block of buildings on Exchange Street but, for now, are staying quiet about how they will be used.