SACO — The developer of a proposed $40 million project to develop a vacant portion of Saco Island is hosting a public information night at 6 p.m. on Tuesday at Saco City Hall. 

Saulnier Development has proposed a mixed-use development called The Waters on the east side of Saco Island which would include residential units, a boutique hotel, a restaurant and two marinas.

Jim Brady, developer of The Press Hotel in Portland, is partnering with Saulnier Development for the development of the proposed boutique hotel. 

Saco Island was once a booming factory district on the lower end of downtown. The island is divided down the center by Main Street. The west side of the island has a train station and a complex of former mill buildings that have been restored for residential, office and commercial use.

Saulnier Development purchased the six acre parcel on the east side of Main Street in 2017. The property has been vacant for many years.

“I know Saco is very eager to see this project get started, and so am I,” said Bernie Saulnier of Saulnier development in a prepared statement. “There’s been an explosion of redevelopment in downtown Biddeford-Saco, but this piece will link everything together. These two cities have officially moved forward into a completely new and positive economic era, and there’s no going back.”

Craig Pendleton, executive director the Chamber of Commerce, said in a written statenent that the defining attributes of Saulnier’s project are its heavy emphasis on the Saco River and the public’s new access to it.

“What has previously been a desolate no man’s land will now open up sweeping vistas of the Saco River,” said Pendleton. “The economic rebound that these two cities have been making since 2012 has wisely used the river’s natural draw to encourage economic revitalization. This development continues that in spades, and let me tell you, when this project is finished these two cities will never be the same. What a gem.”

Saulnier and design professionals working on the project will provide a detailed development schedule and answer questions about the plan at Tuesday night’s meeting.

— Staff Writer Liz Gotthelf can be contacted at 282-1535, ext. 325 or [email protected].