DOVER-FOXCROFT — An out-of-state company has taken out an option on a well-known manufacturing plant in central Maine that has been vacant the past three years.

Selectmen in Dover-Foxcroft have given Arnold Development Group of Kansas City, Mo., a one-year option to purchase the former Moosehead Manufacturing furniture manufacturing plant. The town took ownership of the four-story, 85,000-square-foot plant after Moosehead Manufacturing shut down.

The redevelopment proposal calls for a mix of retail, office space, light manufacturing and/or housing with a minimum investment of $4.8 million over four years.

Jonathan Arnold of Arnold Development told the Bangor Daily News that he has done previous warehouse projects in Missouri.