Niemann pursues new partnerships, projects
Maine's historic downtowns, community life, and its wonderful people drew me in like a magnet the very first time I visited. I grew up in awe of great architecture. Whenever I went downtown with my family, we would visit stores and talk with the owners and friends, while just doing our everyday tasks. The grand historic downtown buildings added to the united community atmosphere, which has a timeless value. Renovating historic buildings became my passion and has given me the opportunity to help revitalize that way of life in North Carolina and Maine.
That passion is manifest in a new project and a new partner I'm announcing here.
Starting in 2005, I worked with Gov. John Baldacci, state legislators, community and business organizations, local municipalities and the congressional delegation to introduce ways to help developers invest in renovating historic buildings. Three bills I supported, two of which I helped draft, passed with nearly unanimous support from lawmakers. Until then, laws were geared to assist new development, so it wasn't cost-effective for developers to invest in downtown historic sites. Now it is with the State Historic Tax Credit Program.
The new laws paved the way for Niemann Capital, and our partners, to purchase the Hathaway Creative Center in Waterville and the Arsenal in Augusta. Over $33 million has been invested into these projects. While some of my partnerships have changed over the years, my dedication to Maine has never wavered.
The Hathaway Center's renovation was completed in 2009. Local contractors put their heart and soul into the project. Companies have moved in, residents fill our apartments and we are at 96% occupancy.
The former textile mill has been transformed into 67 luxury apartments with 111,000 square feet of commercial space. Witnessing the renovation as the building came back to life was thrilling. The craftsmanship of our renovation team was outstanding. I'm proud to have always been — and remain — a managing member of the Hathaway's 236,000 square feet of mixed-use rehabilitation.
Finishing the center during the height of the great recession was a challenge, but we managed it successfully. Unfortunately, the Arsenal suffered because of the banking crisis. The vandalism at the site has ended with the help of resident Sukey Sikora, who shares my passion for redeveloping the Arnseal site and a building-by-building renovation approach. These efforts garnered the interest of Joseph Casalinova, master developer of Casalinova Development Group, and I'm excited to announce our new partnership. Renovations on the Gatehouse and the Barracks will increase this summer with occupancy expected by the end of the year.
Together we will finish the Arsenal's redevelopment. We are looking at plans to make the campus a wellness center, taking advantage of the beautiful natural setting adjacent to woods and alongside the Kennebec River.
Joe and I will also be working on the Auburn Gateway project, to revitalize the Minot Avenue corridor, which is a gateway into that city. Joe has been living and working here for 25 years on developments that create jobs and revitalize areas to benefit the people of Maine. We are adamant that what makes Maine uniquely special is always preserved.
Joe's background in historic preservation development started with the John Eliot Historic District in South Natick, Mass., along the banks of the Charles River. As he worked on this historic landmark, his meticulous planning and eye for detail transformed the development into a thriving village with retail, office and mixed-use residential. We're energized and confident about projects for Maine's future.
I've dedicated my life to renovating historic buildings to help downtown communities flourish. Working with Maine partners, I see great opportunities in historic redevelopment projects that will add value for everyone's quality of life.
Developer Tom Niemann, president and CEO of Niemann Capital in Durham, N.C., can be reached at 919-730-2854.
Editor's note: Developer Tom Niemann filed this commentary before the Maine Attorney General Office announced its decision to seek ownership of the Arsenal property April 25. In an email to Mainebiz, Niemann said he still intends to pursue redevelopment of the project, despite the AG's action.
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