NORWAY – Two representatives of the proposed condominium project for the old Cummings Mill site submitted their project application to the planning board for review Thursday night, starting the process of acquiring permits to build the much-anticipated development.

Morris Fisher of CB Richard Ellis/The Boulos Co., a real estate company backing the project, and Jeff Perry of Sebago Technics showed the planning board drawings of the future site and said construction would begin as soon as the board approved the project.

The final plan includes three commercial condominiums with a total of 18,000 square feet along Pennesseewassee Stream and three six-unit residential townhouses. The commercial buildings will have a 91-vehicle parking lot.

The residential condos will be two-stories with two bedrooms and an option for a third bedroom. Each will have an attached garage.

Fisher said that investors had committed only to constructing three office buildings and one residential unit for starters.

A group of investors including the Libra Foundation bought the mill from EnterpriseMaine last fall for $300,000. Their plan of bringing upscale townhouses and commercial units to downtown Norway is a novel scheme for the town – and so the outcome is uncertain. But many hopes are banked on this project’s success as a way to revitalize a small Maine town hit hard by the decline of its traditional industrial base.

Planning Board chairman Dennis Gray said Thursday that the board would have to examine the thick mound of papers Fisher and Perry gave the planners, and then schedule a public site walk.

Right now the site is filled with rubble from the demolition of the buildings that made up the former wood dowel mill.

The next step following the site walk will be a public hearing, which would precede the planning board’s final vote of approval on the project.