Front Street Shipyard in Belfast, Maine, announced last week that it has finalized the financing it needs to start construction of a new facility adjacent to its existing yard.
With the combined support of the City of Belfast, Androscoggin Bank and the U.S. Small Business Administration, the yard completed the purchase of a city-owned parking lot and secured a loan to build a 22,500-square-foot building. Additionally, the Maine Technical Institute is providing a development loan that will fund the shipyard’s purchase of overhead cranes for the new project known as Building 6.
“This expansion is only possible through the unwavering support of many institutions, organizations, regional officials and our local community,” said JB Turner, president of Front Street Shipyard, in a statement. “Their confidence in our ability to continue growing business, adding jobs, and enriching tourism to the region is humbling. The entire team at Front Street Shipyard is committed to filling our new facility with multifaceted projects and expert craftspeople to take on those projects.”
The new building will accommodate large yacht refits and commercial vessel construction projects and will add about 40 new full-time jobs for the yard. The building will be tall enough to let Front Street Shipyard’s 485-ton mobile hoist to drive boats inside. The machine is the largest mobile lift in northern New England.
Maine Coast Construction of Camden, Maine, is erecting the new Varco Pruden metal building, which is expected to be finished in the fall. Gartley & Dorsky of Camden, Maine, engineered the building and John Hansen of South Thomaston, Maine, is the architect.