0 Oxford St, Augusta, ME 04330

Owner's preference is to sell the property utilizing Owner financing to appreciate the tax advantages. ISO: The right Buyer, price & terms to make it happen. Located in the heart of Augusta’s historic Sand Hill neighborhood, the property at 57 Oxford Street represents a rare opportunity to transform a 7.3-acre former farmstead into a vibrant residential community. The base vision for this project focuses on building four modern, market-rate unit buildings that sit naturally on the landscape. By placing these buildings on the flatter portions of the site, the project can comfortably offer 100 units. A short, efficient entry road will lead residents to a spacious 200-space parking lot, ensuring that every home has ample room for vehicles without crowding the neighborhood streets. Even with the area's famous topography, the math behind this development is exceptionally strong. While the site features about 1.3 acres of steep hillsides, these slopes actually work in a developer's favor by satisfying the city’s open space requirements without eating into the buildable land. Because the property is in the High-Density Residential district, it is legally allowed to host up to 163 units. Our 100-unit plan is a "right-sized" approach that stays well within these limits, leaving plenty of room for modern storm-water management systems to keep the site and the surrounding neighborhood dry and stable. Turning this vision into a reality will involve a collaborative permitting process with the City of Augusta. As a "Major Development," the project will move through the Planning Board for site plan and subdivision approval, ensuring that everything from traffic flow at the Oxford and Monroe Street intersection to utility connections is handled correctly. Developers will work with the Greater Augusta Utility District for water service lines to serve high-end fire safety and provide public sewer services to the new buildings. This process ensures the project is a seamless addition to the city's infrastructure, providing high-quality housing that is built to last. Permitting will also be required from the Maine Department of Environmental Protection, triggering its Stormwater Management Law threshold. While the current plan focuses on a 100-unit market-rate community, the property holds a massive secondary potential through Maine’s new affordable housing laws. If a developer chooses to designate the site for affordable housing, state law allows for a massive "density bonus," which could theoretically jump the unit count to over 400. Perhaps more importantly, these laws would lower the required parking ratio, meaning a 300-unit affordable project could actually fit on the same footprint as our 100-unit market-rate plan. With its commanding position over the valley, 57 Oxford Street offers a residential experience defined by its surroundings; a serene, beautiful setting anchored by its signature views of the Kennebec River. There are no Hight limitations in this zone. The higher you go, the better the views of the Kennebec River and beyond. Call Dave or email today. Please do not text @ 1st. contact.