16 Burbank Avenue, Brunswick, ME
In 2005, the federal government initiated its most recent round of military base closures under the Base Realignment and Closure (BRAC) process. The U.S. Department of Defense (DoD) and Congress have used this process five times over the last two decades to reduce and realign the nation’s military installations.
During the 2005 BRAC round, three Maine military installations were targeted for closure or realignment: Naval Air Station Brunswick, Portsmouth Naval Shipyard, and the Defense Finance and Accounting Services Center in Limestone. In August of 2005, the federal BRAC Commission saved two of those installations, but voted to close Naval Air Station Brunswick (NASB) after 68 years of operations. The closure resulted in 6,500 jobs lost within the immediate community and far reaching economic impact.
In August, 2013, Priority Real Estate Group completed Phase I of the renovation of 16 Burbank Avenue and 62 Pegasus Street – two properties at the former Naval Air Station known as Brunswick Landing. 16 Burbank Avenue is the former Navy Lodge, a 15,000 square foot building converted to accommodate 28 classrooms and a life skills room on the main floor and professional offices on the second floor. 62 Pegasus Street, the 26,000 square foot former Navy Recreational Building and Bowling Alley, was converted to classrooms, a day care, an indoor recreational room, occupational therapy room and professional offices. Both of these properties are leased to Providence Services Corporation – the largest provider of services to children with Autism and developmental disabilities in Maine.
In March, 2014, Crescent Growth Capital helped Priority Real Estate Group (“PREG”) close and fund a $10.2mm Maine State NMTC QEI to consolidate Phases I & II and complete the construction of Brunswick Landing Phase II. These two Phases represent much needed job creation and an economic stimulus to an otherwise blighted area: Phase I of the Brunswick Landing created a combined 142 new jobs for Providence Services and Coastal Ortho & Sports Medicine, with annual salaries ranging from $28,000 to $650,000. Phase II will allow Providence to combine two more regions at the Brunswick Landing location, relocating 60 staff members to the area and setting the stage for future growth.
There are over 10,000 veterans in Midcoast Maine, many of whom had a connection to Brunswick Naval Air Station. With the base closure, the veterans did not have a presence in the community to offer services nor the financial means of establishing one. As part of Phase II, Priority Real Estate Group renovated 2,000 square feet of the 62 Pegasus Street property at a cost of $200,000 and leased the space to the Midcoast Veterans Council of Maine for $1 per year. This donation allowed the Council to set up a Midcoast Veterans Resource Center aptly located on the former Naval Air Station Property where they can service the many veterans in our community.