A 102-bed nursing, rehab, and assisted living facility proposed last year for Piper Mill Road in Damariscotta is no longer in development.
Portland-based developer Sandy River Co. cited rising costs, high interest rates, challenges with securing loans, and staffing shortages in a Nov. 14 notice to LincolnHealth of its change of plans for Clippership Landing.
According to a press release, the project’s estimated construction costs had risen to nearly $45 million. Sandy River Co. is looking for other project sites and possibilities, including a smaller development on the same site or redevelopment of Cove’s Edge at LincolnHealth’s Miles campus in Damariscotta, the release said.
The original project plans for a 74,500-square foot building were approved by the Damariscotta Planning Board in January. Developers presented Clippership Landing as a replacement for licensed nursing care beds at Cove’s Edge and at St. Andrews Village in Boothbay Harbor.
“While all parties are disappointed, we recognize the importance of assuring high-quality senior living services are available in Lincoln County for years to come,” Cindy Wade, LincolnHealth’s president, said in the press release. “We will be looking at all potential options for a viable and sustainable solution.”