Snyder says, in a release, that this project will create"thousands of construction jobs and hundreds of permanent jobs. Itwill add greatly to the city's tax base and provide a destinationcenter for visitors and local residents alike." Planned to beplaced just off the Maine Turnpike--at exit 47--the developmentwill be situated closely to Portland, ME.

The developers are looking on the positive side of the downturn,assuring that the current economy will not slow down thedevelopment. "Stroudwater Place will be developed in stages overthe next eight to 10 years," says Emil, in a release. "By the timewe have secured the necessary permits for construction, as well asthe financing and the tenants, we expect the economy to haverebounded."

The development is planned to include retail and business space,in addition to year-round recreational amenities, such asconcert/event space, promenades, parks and a farmer's market. "Weintend Stroudwater Place to attract a variety of mid to high-endtenants that will appeal to a broad range of consumers," saysSnyder, in a statement.