Scarborough Welcomes 3 New Businesses from The Downs Developer

New Businesses Set to Boost Scarborough’s Economy

Scarborough is set to welcome three new businesses that are expected to significantly impact the local economy. These developments are part of a larger plan known as The Downs, which has been in the works since 2019. The project has already seen substantial progress, with several key players in the financial and community sectors choosing to establish a presence in the area.

Verizon, Maine Community Bank, and NBT Bank are among the latest additions to the town center. Their arrival marks an important milestone for the project, which aims to create a vibrant commercial hub that supports both residents and businesses. The developer behind The Downs has expressed confidence in the long-term success of the initiative, citing strong interest from various industries.

A Seven-Year Journey of Growth

Since the project’s inception in 2019, developers have successfully built over 50 businesses within the area. This accomplishment has not only transformed the landscape of Scarborough but also contributed to the broader economic development of the region. The growth has been steady, with each phase of the project bringing new opportunities and resources to the community.

The Downs has also played a crucial role in addressing the state’s housing crisis. Developers have constructed more than 700 residential units, providing much-needed housing options for local residents. This effort has helped alleviate some of the pressure on the housing market and has made Scarborough a more attractive place to live.

Job Creation and Economic Impact

One of the most significant outcomes of The Downs has been the creation of over 1,500 jobs. These positions span a variety of industries, offering employment opportunities for people of all skill levels. As the project continues to expand, more jobs are expected to become available, further boosting the local economy.

The town center, which officially broke ground in 2023, is a key component of this growth strategy. It is designed to be a central location for commerce, services, and community activities. With the addition of major banks and other businesses, the area is becoming a focal point for both residents and visitors.

Looking Ahead

As The Downs continues to develop, it is clear that the project has already made a lasting impact on Scarborough. The combination of new businesses, job creation, and housing development has positioned the area for continued growth. Residents and business owners alike are optimistic about the future, with many anticipating even more changes in the coming years.