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Bangor council approves option agreement for Grandview Avenue housing site
Summary
The council voted to authorize an option agreement allowing Developers Collaborative Predevelopment LLC to pursue funding and site control for a mixed-income housing project on a city-owned Grandview Avenue parcel; the exercise deadline is April 30 and the nominal purchase price is $1, with ARPA funds committed for infrastructure work.
Bangor City Council on Jan. 13 authorized the city manager to execute an option agreement with Developers Collaborative Predevelopment LLC to acquire a city-owned property on Grandview Avenue and pursue permanent financing for a mixed residential project.
The order (25-048) lets the developer demonstrate site control and requires the option to be exercised by April 30. The agreement sets a purchase price of $1, commits city ARPA funds for infrastructure work, and allows a phased development and a later development agreement that will require council approval.
City staff told the council this action follows an earlier council order (24-358, Oct. 28, 2024) that authorized negotiations with the developer to plan and construct housing targeting households with incomes at roughly 80% to 120% of area median income. Staff said the option is the first step for the developer to secure permanent funding.
The motion to approve the order was moved and seconded; the roll-call vote was 7–0 in favor.
Councilor Pelletier, who spoke after the vote, called the project “really innovative” and said city staff had worked hard to reach the point where the option could be approved.
What happens next: if the option is exercised by the developer, staff said the city will negotiate a development agreement and any infrastructure work funded by ARPA would proceed before or alongside phased construction. Final approvals for the development agreement and any associated land-use approvals will return to the council for formal action.
Votes at the meeting show unanimous council approval of the order. No amendments to the option agreement were recorded in the meeting transcript.
