BNAS housing deal complete
The sale of 702 housing units at the Brunswick Naval Air Station to developer George Schott has been completed.
At its meeting Tuesday, the Midcoast Regional Redevelopment Authority announced the sale, a year and a half in the making, had been finalized at the end of October, according to The Forecaster. Schott, who renovated the Auburn Mall and recently put it up for sale, last April began negotiating with Northeast Housing, a public-private partnership between the U.S. Navy and UK-based Balfour Beatty, for the units in Topsham and Brunswick. The land beneath the houses is still owned by the Navy but is expected to be transferred to MRRA ownership next summer, after the base's official May 2011 closure date, according to the paper.
At Tuesday's meeting, MRRA also approved issuing up to $24 million in bonds for two tenants planning to locate at the redeveloped base, which will be known as Brunswick Landing. MRRA plans to issue a $10 million bond to airplane manufacturer Kestrel Aircraft, which intends to open on the base next month, and up to $14 million for Molnlycke, a medical foam manufacturer and parent company of Rynel Inc. in Wiscasset that wants to build a plant on the property. A public hearing will take place before the bonds are issued, according to the paper.
Go to the article from The Forecaster >>
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