Lewiston Maine: The Ups & Downs of a Downtown in Transition

By
Real Estate Agent with Better Homes & Gardens | The Masiello Group

Last month, a string of fires in downtown Lewiston claimed 10 apartment buildings and left almost 200 people homeless.  Fortunately there were no fatalities and only minor injuries.  The community rallied together to help those affected by the fires, but the events also brought to light a problem that has been brewing for decades.  Century old buildings that have been allowed to deteriorate to a dangerous level.

A once thriving mill town, Lewiston has had it's ups and downs, but has enjoyed something of a renaissance over the last 10 years with new businesses moving in to the downtown area and renovating the beautiful old structures that have defined the city.  The inventory of apartment buildings however, has not enjoyed the same renaissance.

Larry Baril of Lewiston gives a great assessment of the problem and solutions in the video below from our local paper, The Sun Journal and the accompanying article:  Downtown Housing Down But Not Out?

In many ways the fires have acted as a wake up call.  The city is stepping up it's efforts to tear down buildings that are too far gone.  Likewise, investors are realizing the days of simply purchasing a cash flowing building and leaving it at that are gone.  They are starting to realize that smart improvements will protect their investment and enable them to increase rents as the quality of buildings improves. The city's continuing focus on bringing new business to the area continues to drive the demand for housing making this an attractive area for investors.

Lewiston Maine

 

 

Posted by

The Maine Real Estate Network - Kristen Wheatley - Lewiston-Auburn Maine Real Estate

Maine Realtor Kristen Wheatley  

Kristen Wheatley is a Maine Realtor working and living in Central Maine.  She specializes in the sale of residential and investment property in the Lewiston-Auburn area and surrounding towns.  Kristen uses the latest tools and mobile technology to provide a superior experience and results for her clients and enjoys sharing these technology skills and teaching other real estate professionals and local small business owners.

The Maine Real Estate NetworkKristen Wheatley, Associate Broker
The Maine Real Estate Network
34 Center Street - Auburn ME 04210
mainehomeseller@gmail.com
207-240-2250     www.lamainerealestate.com

Search for Maine Homes For Sale

how much is my Maine home worth? subscribe Maine's largest and coolest real estate agency Welcome to the L-A Maine area!

connect with Kristen on these other sites

facebook Kristen Wheatley on twitter Kristen Wheatley on Flikr Kristen Wheatley on LinkedIn Kristen Wheatley on YouTube

//

Copyright © 2013 by Kristen Wheatley

Comments (2)

Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

While the outcome may end up being very good, indeed, that kind of disaster scenario does leave scars for those involved.

Jun 11, 2013 02:35 AM
Kristen Wheatley
Better Homes & Gardens | The Masiello Group - Brunswick, ME
Supporting Success - Best Job in the World!

Most definitely Li.  Most people involved lost everything they owned and the trauma of awaking to a raging fire with always be with them.  We are very fortunate to have an incredible fire department and a thriving community of folks who rushed in to help/

Jun 13, 2013 01:03 AM