Projects

Biddeford Downtown Redevelopment

Other

Urban Development

Amber worked with the City of Biddeford, Maine to finance and construct critical aspects of their downtown redevelopment masterplan including parking, utilities, parks and civic infrastructure assets.

Sector

Other

Urban Development

Location

Biddeford, Maine, USA

Status

Operational

Equity Ownership

100%

Financial close

August 2020

Term length

25 years

About

The Project involved Amber taking over responsibility for parking across the downtown area of the City in exchange for parking revenues and a guarantee provided by the City over 25 years. The revenues amortize Amber’s investment in a new parking structure, improvements to local utilities and the provision of funding for a portion of the City’s “RiverWalk” project, a pioneering civic infrastructure project alongside the banks of the Saco River. The provision of this infrastructure unlocked private development projects and contributed substantially to the forecast tax income received by the City.

Key impacts and benefits

Forecast revenue increase for the City of Biddeford

$ 0.0 m

Number of purpose built parking garage spaces

Contribution to public sector initiatives

$ 0 m

Why we invested

Rapidly growing City with strong demographic trends
Innovative approach to the provision of civic infrastructure
Case study for alternative project delivery methods

Sustainable Development Goals (SDGs)

2030 Agenda for Sustainable Development adopted by UN Member States in 2015

SDGs supported:

Outcomes

The project delivers a critical aspect of the City’s masterplan for reinvigoration of the downtown area. The project, built on the site of a former waste incinerator, repurposes land and provides the civic infrastructure to support residential, commercial and retail development in the downtown area.

Biddeford Downtown Redevelopment

About

Why we invested

Sustainable Development Goals (SDGs)

Outcomes

Tideway

Bootle HM Revenue and Customs Office

Liverpool Library