Snyder says, in a release, that this project will create "thousands of construction jobs and hundreds of permanent jobs. It will add greatly to the city's tax base and provide a destination center for visitors and local residents alike." Planned to be placed just off the Maine Turnpike--at exit 47--the development will 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 the development. "Stroudwater Place will be developed in stages over the next eight to 10 years," says Emil, in a release. "By the time we have secured the necessary permits for construction, as well as the financing and the tenants, we expect the economy to have rebounded."

The development is planned to include retail and business space, in addition to year-round recreational amenities, such as concert/event space, promenades, parks and a farmer's market. "We intend Stroudwater Place to attract a variety of mid to high-end tenants that will appeal to a broad range of consumers," says Snyder, in a statement.