Construction on Maine Street Station continues full-steam ahead, though few tenants are on board and the project is more than a million dollars short of funds.
The Maine Street Station Oversight Committee, which met Thursday night, disclosed that the project's funding is short about $1,275,000. The town of Brunswick applied for a much-needed $850,000 grant from the Economic Development Administration (EDA), part of the U.S. Department of Commerce, more than a month ago. However, the EDA admitted this week that it could not find Brunswick's application.
"We're getting to the point where we need to make some of this public that it's not our fault," said acting town manager Gary Brown at a Maine Street Station Council Committee meeting Thursday night. "We need the EDA...we don't want to spend all the town's money."
The committee did not come to a conclusion on how to proceed if the EDA grant money fell through. According to Brown, Brunswick cannot afford to borrow any more funds.
Construction on the train station, in particular, awaits funding for the expansion of Amtrak's Downeaster train service from Portland to Brunswick. Several committee members expressed hope that the economic stimulus, passed Wednesday by the U.S. House of Representatives, might help.
"There are great opportunities for this town with the rail coming back," said Project Manager Michael Lyne, of JHR Development. "We just need to hear that it is coming back."
Committee Chair and Town Councilor Margo Knight proposed that the town of Brunswick assume the role of master tenant for the train station, of which JHR Development is the landlord, and lease the space to subtenants.
With businesses reluctant to expand operations amidst the current economic slowdown, the pool of potential tenants to fill the project has diminished considerably.
"A lot of smaller retail users aren't looking to expand right now, they're looking to hold what they have," said Lyne. "It's been slow."
The town of Brunswick and JHR Development would not release the names of any official tenants, except for Bowdoin. The College has agreed to take the first floor of Building 1, and the second floor of Building 3.
According to Senior Vice President for Planning and Development and Secretary of the College Bill Torrey, the College has designated some of the space on the second floor of Building 3 for a dance studio and changing rooms, though the rest of the space has not been finalized.
Bowdoin will not use the retail space on the first floor of Building 1 for a second bookstore as previously considered, though may still use it for some related retail sales or for gallery space.
"The problem is the economic climate is so dismal," said Torrey. "It's rather remarkable that this project is still moving forward. Everyone wants it to—Bowdoin, Brunswick, the developer."
Since the groundbreaking of the five-building development in October, phase one of construction on the retail and office spaces has been on schedule. The foundations for Buildings 3 and 4, which will house the train station, have been laid, while remediation on Building 1 began this week. Progress has also been made on the road between Union Street and Maine Street.
JHR Development has received interest from several retailers, including a restaurant, a sporting goods store that has had difficulty getting financed, and some smaller users for the concourse field in the train station.
Lyne said he was "very hopeful that we can have an acceptable level of occupancy" by the time the buildings are slated to open in late July 2009.
Work will begin on the inn and condominiums once the first phase of construction has been satisfactorily completed. Lyne said he had a long list of people interested in the condos, but that these are impossible unless several units are pre-sold.
Winter weather has slowed construction and increased some costs, but Lyne said builders are accustomed to working in harsh conditions and will continue on schedule. He added that seeing people working on the project was "a little symbolic—it shows that we can get through this."
Maine Street Station is expected to boost Brunswick's economy. A handful of stores on Maine Street have closed, but Lyne said that the train's arrival would be a "glimmer of hope" for small local businesses.
Bringing Bowdoin students downtown is an important way to invigorate the businesses of Maine Street. Lyne said it was "great for the project" that Bowdoin will be a tenant. "It's important to create that link between the campus and downtown Brunswick," he said.
Economic Development Specialist for the town of Brunswick, Amanda Similien, called the continued investment and construction on the project "impressive."
"We're trying to do whatever we can to get jobs in town," she said.