Chinburg Properties, based in Newmarket, N.H., has wrapped construction on its rehabbed apartment building in the historic Pepperell Mill campus in Biddeford, and has begun to move in tenants.
Named the Eleven, the circa 1890, 64,000-square-foot brick building at 50 Laconia St. was originally built for textile production. After standing empty for decades, the Eleven is now home to 76 market-rate apartments.
The majority are studios and one-bedroom units, ranging in size from approximately 500 to 1000 square feet and priced between $1,610 for the smallest studio to $2,925 for the largest one-bedroom. There are eight two-bedroom apartments, in the range of 1,000 square feet with prices starting at $3,200.
Matt Assia, vice president for development and asset management for Chinburg, told Mainebiz that many units are already leased.
The building is pet-friendly and includes a dog wash room, a fitness center, laundry facilities and garage parking with electric vehicle chargers. Outdoor amenities include a dog run and courtyard with gas grill and fire pit.
Assia added that total construction cost for the project was roughly $17 million, with financing from Machias Savings Bank.
Chinburg has refurbished a number of mill buildings in Maine and New Hampshire, for housing and commercial use, including the Dana Warp Mill in Westbrook and the Lincoln Lofts in Biddeford.
