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| Contributed photo Shown here, save a couple small differences, is what the new condos being constructed on Glenn Street should look like once construction is completed. |
By Natalie De La Garza
Staff Writer
CARIBOU — City officials gathered at Glenn Street yesterday morning to celebrate the ground breaking for a project that will add about $1.3 million to Caribou’s tax base in the form of eight condos built by Caribou-based Haney Building Specialties.
Four duplex-style buildings are slated for construction over the next two years, based on demand, with two condos per building. The project has a roughly assessed value of $1.3 million according to City Manager Austin Bleess, and owner of Haney Building Specialties Troy Haney said that the project will involve hiring subcontractors from six to eight trusted companies to work through the winter.
“We feel that’s going to have a good economic impact there as well, especially during the slow time of the year for construction,” Haney said.
He also added that these are the first condos Caribou’s seen, and feels that the homes will compliment a niche market. The high energy efficiency of the condos was intended to help defer maintenance costs and assist those facing a fixed income while providing a home where all exterior maintenance is taken care of — be it shoveling, cutting the grass or cleaning gutters.
Monthly fees also go into a rebuild fund, meaning that all the buildings get new windows, siding, roofing, entry doors and pavement every 25 years,
“That’s important, because then the value of the property never goes down, and it always looks fresh and high quality,” Haney said.
Located on a parcel of land next to the RSU 39 bus garage on Glenn Street (near Teague Park Elementary School), a piece of land previously slated for construction of the Caribou Children’s Discovery Museum, the idea for the new condos was born from an economic development tool implemented by city officials this summer – a little thing called Thursdays on Sweden.
As much of Caribou experienced in some form or fashion this summer, Sweden Street was shut down every other Thursday evening, providing a space for vendors, musicians and community members to convene in a fun and friendly fashion; Haney was one such community member gathering for the festivities, and he found himself in a conversation with Bleess and Assistant City Manager Tony Mazzucco.
“Austin and Tony and I were talking about some other things, and general conversation asked them if there was any development in town coming from anybody, and they told me there wasn’t but there was property available if anyone was interested,” Haney recalled.
From there, Haney looked into the available land and found a match with the Glenn Street property.
“We went back to the city to talk with them and they were willing to sell the land, so off we went,” Haney said.
Roughly two months from that initial conversation, ground was broken to make way for progress.
Bleess says the new construction project really exemplifies what officials are trying to do in Caribou by making it easier for businesses to invest.
“We had the city-owned property that was sold to the developer, and he’s going to build houses — it’s good for his business and it’s good for the City of Caribou,” Bleess said, emphasizing the positives this building project will yield.
“And all this was born out of Thursdays on Sweden, giving people a chance to get out of their houses to interact with people and have discussions,” he added.
Taking a little extra time to describe how the condo construction will impact the city, Bleess broke it down simply.
The land, which Haney purchased for $1, has been city owned for years, meaning that Caribou couldn’t collect any taxes on it. Though the sale was for only $1, the development agreement stipulates that at least three town homes are built — meaning that in the next three years or so (conservatively) the same piece of property that had previously been contributing $0 to the city will be bringing in over $1 million.
“Property taxes — the amount that we need city-wide — is divvied up to the individual by the value of their land, their house and all that stuff,” Bleess explained. “The more total value of property you have in the city, the lower everyone’s cost is because you have more areas to spread it out around — so this is certainly going to benefit the taxpayers of Caribou.”
Taxpayers aren’t the only ones interested in the condos, however; within a day of announcing the construction of the condos, Haney had already received inquiries from interested parties.
The two-bedroom, one-bathroom homes with a full garage are anticipated to sell between $170,000 and $179,000. Tentatively, construction is anticipated begin on the other three units next spring, next fall, and in spring of 2015 — but Haney says that process can be sped up or slowed down based on demand.
Additional information about the future homes can be found by visiting www.haneysbuilding.com or calling 492-1323.
