LEWISTON — The Lofts are almost under way.
The project that would convert part of Bates Mill No. 2 into 48 mixed-income housing units is set to close on purchase and construction financing in early January, with construction starting in mid- to late-January, Amy Cullen, development officer at The Szanton Company, said Thursday.
The Lofts at Bates Mill secured low-income housing tax credits from the state a year ago. An original target had been to begin construction last summer and open in March 2012. Cullen said the new target is to open the doors in October. They’ll build a model unit first, giving people a look and starting to take applications in the spring.
“It’s been a little delayed, but many projects are delayed,” she said.
The $9.2 million complex will include 33 units with subsidized rent and 15 units without. Amenities will include Wi-Fi, a fitness center, computer room and home theater room. Potential tenants have to agree to a criminal and credit background check, and to follow house rules such as no smoking.
In addition to the tax credits, the City Council had also approved the project for a tax-increment financing agreement. Platz Associates will be the construction manager.
“We’re very excited to begin construction and get moving,” Cullen said. “Getting to the closing table is the minutia. Construction is when the fun begins.”
kskelton@sunjournal.com
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