ROCKPORT, Maine — A local couple have signed a purchase and sales agreement for key commercial properties in the downtown area known as Rockport Village.
Local developers Stuart and Marianne Smith have an agreement to buy the Shepherd Building at 18 Central St. in the center of town along with undeveloped lots on both sides of the commercial brick structure.
“We want to be part of the continued commercial development of Rockport village,” Stuart Smith said Monday.
He said the Shepherd Building will continue to be leased to current tenants and no changes are planned. He said there are no plans yet for the undeveloped lots but that eventually he will want to develop them commercially.
The Shepherd Building has been owned since 2008 by Glen Cove TND LLC, which purchased it for $1.6 million from Penobscot Bay Ice. The town has the building assessed at $1.32 million. Smith declined to say what he is paying for the properties.
The Shepherd Building, which overlooks Rockport Harbor, has five floors, including the basement, with two storefronts on Central Street.
“We were very fortunate to have had Leucadia [parent company of Glen Cove TND] be part of the community for so many years. While we are sorry to see them leave, it is encouraging to think that Stuart and Marianne are making the commitment to be part of the future of Rockport,” Rockport Town Manager Rick Bates said. “The Smiths have been an important player in the investment in the midcoast region for many years. The work they have done thus far has been very impressive. There is a lot to be said for ‘going local.’ I believe that they have the vision we need and are interested in being part of the continued rebirth of the Village.”
The Smiths own the recently completed 16 Bay View Hotel in Camden, the Lord Camden Inn in Camden and Maine Sports in Rockport. In December, the Smiths purchased a little more than 5 acres owned by the Penobscot Bay Regional Chamber of Commerce at the intersection of the heavily traveled Routes 1 and 90 in Rockport. No plans for the property have been unveiled. The Smiths also proposed in February 2014 building a 65-room hotel on the Rockland waterfront but have not submitted a formal plan.
The Smiths also were part of a group that built the Midcoast Recreation Center in Rockport in 2001 and then donated it about five years ago to the community.
“We look forward to a strong and vibrant village. People like the Smiths are a part of the intricate fabric that makes Rockport a growing and healthy community,” Rockport Select Board Chair William Chapman said Monday.