By Scott Taylor,Staff Writer

LEWISTON – Work to redevelop Lewiston’s Western Gateway isn’t waiting.

Two decisions Tuesday night cleared the way for the redevelopment of the area around the Cowan and Libbey mills.

First, city councilors approved an agreement with developer Travis Soule of Solo Properties spelling out the details of the Island Point project into the next decade. Soule plans to redevelop the Cowan and Libbey mills as condominiums, retail stores and restaurant space by 2007, and possibly build a nine-story hotel there later.

Next, councilors agreed to buy the land under the Empire Theater at 142 Main St. as soon as owner Tom Platz tears down that building. Jim Andrews, city community development director, said crews could be on-site today removing asbestos from the interior.

“They’re not planning to wait on this,” Andrews said. He expects that the building will be gone and the property in city hands within 30 days. The city plans to put 25 parking spaces there.

Soule said he expects his first tenants to move into the neighboring Central Maine Power building at 134 Main St. by Monday. Pine Tree Tele-Services, a phone marketing firm, will rent the entire top floor from Soule.

He expects a new restaurant, Espo’s Trattoria, to open in July or August.

“I’ve already had about 10 people want to put down deposits on condos,” Soule said.

Like a dance’

Tuesday night’s agreement calls for $7.5 million in city spending, in the form of grants, road improvements and new parking structures. That’s to be matched by $21.5 million in private investment by Soule and partner Vince Lobozzo.

“It’s all matched, step by step, like a dance,” Soule said. “First I step, then the city, then me again.”

According to the agreement, Soule now needs to close on his purchase of the Cowan Mill and show financing to redevelop that building for $6.5 million and the CMP building for $500,000. He also has to complete a structural study of the Libbey Mill, to determine if it’s best to fix the building or tear it down and start over.

Once he meets those requirements, the city has one year to take over the Empire Theater space, build a 100-space parking deck north of the Cowan Mill and above Veterans Park, finish traffic studies and road improvements around the site, put all utilities underground and issue up to $480,000 in grants and loans to Soule for the project.

Soule is required to finish redeveloping the Cowan Mill and the CMP building within six months of the city’s finishing its work. Then the city will give Soule the Libbey Mill property, and he agrees to redevelop it for $4.5 million.

In the final phase, the city agrees to widen Island Avenue and build a parking garage behind the Libbey Mill. Soule will build a hotel next to the Libbey Mill by the end of 2012.