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Fownes Mill Condominiums is a three-phase project located on a 5.59± acre parcel in downtown Rochester, with roughly 1,000 feet of frontage on the Cocheco River. The project consists of 3 major phases. Phase I has been completed and sold off. This offering is for Phase III, which consists of 80 age restricted (55+) garden style units to be built in a single 4-story mill style building with 51 parking spaces in the ground level. The building was originally approved for 51 market rate garden style units (as shown on the site plan), but the developer received approval in 2011 for the 80 age restricted units, which require only 1 parking space per unit. Beyond the 51 parking spaces below the building, there is to be a surface lot adjacent to the building with an additional 51 parking spaces. No construction work has been done for Phase III but public water and sewer is available at the site. This is very attractive offering for an investor or developer looking for a signature waterfront property in a busy downtown district, with the potential to expand into Phase II, which consists of eleven (11) 1,300± SF townhouse units to be built, each with a one car garage under. Phase II is to be built in two separate buildings and the foundations and slabs for the two buildings have been poured, but no further construction activity has taken place.

Property Details of 64 RIVER Street

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Listed by Jamieson Duston of Bean Group / Portsmouth
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