LEWISTON – Developers hope to subdivide part of the new East Avenue Shaw’s supermarket property to make a smaller retail development on the land more palatable to investors.
Developers W/S Properties is asking the city Planning Board to approve a plan dividing the 7.5 acre lot in two. The new Shaw’s, which opened last month, would occupy the larger 5.80 acre parcel. A smaller retail building would occupy the 1.7 acres between the supermarket and the Martel School.
“There are no tenants for the building and no plans to build yet,” said attorney Ron Bissonnette, W/S Properties representative. “They want to do this primarily for financial purposes.”
W/S Properties would continue to own both lots, renting them to retailers.
“But lenders like to deal with one, free standing tenant,” Bissonnette said. “The retailer should have an easier time finding financing on a single lot.”
The move would require Planning Board approval, however. It would create two properties with no buffer between them. That is allowed, under the city zoning ordinances for the property, but needs the Planning Board to sign off.
“There are no other changes to the plan,” Bissonnette said. “All we hope to do is add the property line.”
The meeting is scheduled to begin at 7 p.m. in Lewiston City Hall.
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