WATERVILLE — Colby College has bought two vacant downtown buildings – the former Levine’s clothing store and the Hains Building – in an effort to help revitalize the city’s historic center, build on arts and cultural assets and spur economic development.

City and development officials said Wednesday they are thrilled with the purchase and plans to renovate, many using the word “exciting.”

Mayor Nick Isgro said, “The city really has been crying for help from our nonprofit community to help us find solutions to challenges we face, including a shrinking tax base.”

The move is part of an effort spearheaded by college President David A. Greene, who has been meeting with city officials, business leaders, downtown organizations and community advocates to help identify the city’s needs.

Officials for several years have said the two buildings several blocks apart on Main Street should be renovated for reuse.

Colby officials said they are not yet certain what will be done with the buildings, but the group led by Greene has previously talked about possibilities for the downtown area that include new retailers, residential space and a hotel.

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“We’re in a strategic planning process,” Colby spokeswoman Ruth Jackson said. “There are no solid plans for what to do with the properties, but they’re such important properties on Main Street. The Hains Building has been vacant a long time. It obviously has been in disrepair for a long time and we are eager to do something with it, but we don’t know what it’s going to be right now.”

Colby bought the Hains Building at 173 Main St. on Wednesday for $220,000 and the Levine’s building at 9 Main St. on July 10 for $200,000.

Jacobs said both properties will remain on the city’s tax rolls. Much of Colby’s property is tax-exempt because the college is a nonprofit institution.

 


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