WESTBROOK, Maine (CelebrityAccess) Developers in Westbrook, Maine, are moving ahead with an entertainment district that will include housing, shopping, and a concert venue.
The developers have secured $14 million from the city and state to get tax-free financing to build Rock Row, a 2-million-square-foot project that would rebuild the old Westbrook Gravel quarry into a space filled with apartments, stores and concerts, according to WGME News.
The first tenant, a grocery store, was announced last year. A temporary stage is already being built with seven concerts already booked for this summer and the city council is expected to approve a liquor license for those events.
The bond financing is backed by a tax financing district, meaning that half of new property tax revenue will go directly back to the project for the next 25 years to pay off the loan.
