News: Northern New England
Posted: February 5, 2015
Infrastructure at Kitty Hawk Business Park set to be completed in May
Work has been underway throughout the winter on the Kitty Hawk Business Park and the new 30,000 s/f Hartt Transportation terminal located at that site development. The new $3.8 million terminal is set to open in May, with the business park improvements to be completed in May, as well. The park will have four additional lots abutting the Maine Turnpike ready for development at that time. These lots have previously received site permitting.
The park covers 32 acres, with the remaining lots ranging from three to six acres.
Hartt Transporation's real estate affiliate is the developer of the Kitty Hawk Business Park, having received a Tax Increment Financing (TIF) approval for the $1.2 million infrastructure project from the city. Under the TIF plan, these infrastructure costs will be recovered from the city by Hartt's development affiliate over a twenty year period.
Hartt has been assisted in developing the project by Robert Baldacci and Anthony Armstrong of Baldacci Real Estate Group, located in Portland.
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