Construction begins on Colby's downtown Waterville building
Work has begun around the $25 million, 100,000-square-foot Colby College residential and retail complex in downtown Waterville.
The Waterville Sentinel reported workers early this week began blocking off the construction site and removing curbing and trees.
Renovation of the approximately 22,000-square-foot, 1902 Hains building, also downtown and owned by Colby, is underway and is expected to be ready for occupancy in August. Its first floor is to be leased for retail and the second floor is to be used by Colby for offices; the third and fourth floors will be leased by the CGI Group, a technology company.
The design of a 42-room hotel with a restaurant is underway at the site of Colby’s Levine building, which was demolished earlier this year, the Kennebec Journal reported.
The projects are within a four-block section of Waterville that's part of a multi-million-dollar effort by Colby, the city, alumni and other investors to transform Main Street into a destination for visitors, residents and new businesses.
Earlier this year, Colby’s president, David A. Greene, told Mainebiz he expected the projects would involve some $65 million in investment from all sources, including private developers, over the coming five years, and would bring immediate construction jobs as well as jobs related to new businesses into the future.
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