September 8, 2008
Cumberland mall plan scrapped
By The Mainebiz News Staff
An Ohio developer has dropped plans for a proposed $50 million retail mall on Route One in Cumberland, just weeks after first proposing it.
Cedarwood Development Inc. told Cumberland Town Manager Bill Shane that poor economic conditions made it difficult to sign up enough retailers and to cover required off-site street and infrastructure improvements, the Portland Press Herald reported.
The company had proposed building a 35-acre shopping center with two big-box stores that would have brought Cumberland $750,000 a year in taxes and shifted the tax burden away from residents, the paper reported.
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