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Courtesy / THA Architects
Seen here is a rendering of a 38-unit residential complex to be called the Residences at Bethel Station.
The recent acquisition of a 7-acre parcel near the Bethel train station is planned to be the site of a 38-unit residential complex, with a pad site for potential commercial use.
Bethel Station LLC bought the property, located at 23 Cross St., from Bethel Station Associates for $399,000. The deal closed March 23.
The principals of Bethel Station LLC are Anthony Donovan of Spectrum Real Estate in Portland and Gerry O’Connell of the Keller Williams Coastal Real Estate Faulkner Commercial in Portsmouth, N.H.
Donovan and O’Connell are also leading the team that’s developing the project, called the Residences at Bethel Station.
The development leverages the expected expansion of Maine’s passenger train service between Boston, Portland and Montreal, Canada, according to a news release.
“We know that this location in the ski-resort and outdoor recreation region of western Maine is going to attract a wide range of residents and home-owners who will take advantage of the proximity to town amenities and potential for passenger train service between Boston and Montreal,” Donovan said in the release.
The site is at the crossroads of State Routes 26, 2 and 5 and for the northern region of Maine, New Hampshire and Canada. It’s walking distance from downtown Bethel.
Contractors include THA Architects of Stratham, N.H., for the design, Walsh Engineering Associates of Westbrook for site development and DeStefano & Associates Inc. of Portsmouth, N.H., for project management.
The 7 acres is part of a larger 25-acre subdivision created in the 1990s adjacent to Bethel Station. At that time, the station was developed as a transit-oriented retail, residential and commercial development, or a TOD, to support the expected arrival of the Montreal-to-Boston passenger trains. For a few years in the 1990s, a tourist ski train operated between Portland and Bethel.
The 25-acre subdivision is now home to the train station, currently occupied by the Bethel Chamber of Commerce, and a 400-foot train platform that’s the only Amtrak serviceable platform between Portland and Canada. Also sited there is Gem Theater, a bowling alley and restaurant called River Lanes, a Class A office building occupied by Norway Savings Bank, and other retail, residential and commercial uses.
The Residences at Bethel Station complex is expected to include 38 residential condominium units in a three-story professionally managed complex with fitness center/community room, personalized storage for biking, skiing and fishing gear, three acres of on-site preserved open space land with trails that will connect to other area trails, parking, solar array and EV charging stations. Units are expected to be a mix of two and three bedrooms. Six of the ground-floor condos will have attached garages. All the units will have decks or patios with views of the Androscoggin River and the western mountains.
It’s expected the cost of development will be nearly $10 million, Donovan told Mainebiz.
The project has raised 30% equity and Farmington-based Franklin Savings Bank has provided a commitment to finance the balance, contingent on municipal approvals, inspections and appraisals, he said.
“It’s the first condominium development in Bethel for over 15 years,” he said.
The original goal was to break ground by May 1, he said. The COVID-19 emergency has thrown the schedule off-track. Construction could begin at the end of 2020 and is expected to take 12 to 18 months, he said.
The condos will be priced from $280,000 to $399,000. The average will be less than $350,000. Overall sales are expected to total between $13 million and $15 million.
Unit sizes will range from 1,200 to 1,500 square feet. The pad site would be ideal for a retail or restaurant use, he said.
The buyer pool will likely include people looking for vacation homes and short-term rental opportunities, he said.
Of the original 25-acre subdivision, one lot remains on the market. The 2.8-acre parcel is listed at $225,000, said Donovan, who represents the seller, Bethel Station Associates.
The development is based on “smart growth” principles that favor walkability and sustainability over suburban sprawl, he explained.
Donovan’s involvement in Bethel has been primarily through efforts to restore passenger train service and revitalize the Bethel Station subdivision. He lives in Portland but became familiar with Bethel through skiing at Sunday River. He visits regularly.
“I’ll go into the pub and say, ‘When does the train leave?’” he said. “I’m known as the train guy. If the train goes to Montréal, there will be only one stop north of Portland and that will be Bethel.”
Various interests have been trying to restore passenger train service to Bethel, to further stimulate four-season economic activity.
Passenger rail into Bethel once thrived; it ended in 1960. For several years in the early 1990s, a so-called winter “ski train” transported passengers from Portland to Bethel. In 2011, the Bethel Area Chamber of Commerce, with the Maine Rail Transit Coalition, Grow Smart Maine and New Hampshire Charitable Foundation Tillotson Fund, began discussions to restore passenger rail.
Now, the state Legislature is considering a bill to initiate a service development plan for commuter and passenger train service between Portland and the Lewiston and Auburn area.
If that goes through, the idea is to take advantage of the potential for passenger train service between Boston and Montreal, with a stop in Bethel along the way, Donovan said.
The location in the ski-resort and outdoor recreation region of western Maine is expected to attract a wide range of residents and investors, he added.
“We’re looking to revitalize Bethel,” he said. “In the ski season it booms. A lot of people don’t come down the ski mountain. But a lot of people do, because of the restaurants, the movie theater, the shops, the grocery store.”
Bethel is also growing as a four-season destination, he said.
“We can get more young people there and attract new businesses there,” he said.
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