Developer ponders MBNA land uses

The real estate venture that is acquiring key MBNA properties in midcoast Maine says it will take a close look at each and develop strategies to match.

“We’re keeping our options open at this time,” said Brett Cohen, vice president with Maine Investment Properties LLC.

Those options include reselling the properties, developing them with another business or developing them on their own. “Chances are, it’s going to be a mix of the three,” he said.

Some of the properties, such as the waterfront Rockland complex and the Springbrook Hill apartment complex in Belfast, probably would be seen as high-end sales.

But a property such as the Point Lookout center in Northport might be particularly challenging to sell or develop as a revenue-generating entity.

Point Lookout, with views of Penobscot Bay, includes two large lodgelike buildings, a temporary school, about 40 cabins, an all-weather soccer field and a handful of steel-sided commercial structures.

Cohen pledged to work with local governments to plan for appropriate uses of the properties.