The Downs begins new residential stage of development

SCARBOROUGH — New residential projects at The Downs in Scarborough – including apartments, condominiums and a 23-lot subdivision – are underway, and ongoing development is still going strong despite the coronavirus pandemic. Work has now begun on the subdivision off Route 1, the first of several projects in the works that include 60 apartments and two condo buildings with 24 and 28 units. The projected finish date for the subdivision is March 2021; the other projects are still undergoing the town’s approval process. The new phase is part of the years-long development of the area collectively referred to as The Downs, a 479-acre parcel that includes the Scarborough Downs harness racing track. The developers, Peter and Michael Richaud, and William, Marc and Rocco “Roccy” Risbara III, bought the property in 2018 for $6.7 million, and Scarborough town officials included it in a large tax finance district geared toward developing the land as a downtown area, something Scarborough has never had. For full article see source.