BREWER – The city is inviting residents to meet the new development team selected to renovate the defunct Eastern Fine Paper Co. mill at 2:30 p.m. today at the entrance to the former papermaking facility.

City leaders announced in July they had selected the development team, but they declined to release the names, stating they wanted to have a pre-purchase and sales agreement signed before releasing the news.

“We had wanted to wait to make this public primarily because a lot of work needs to be done,” D’arcy Main-Boyington, Brewer economic development director, said Monday. “We don’t have an agreement in place.”

The pre-purchase and sales agreement has not been signed but is expected to be in the next few weeks, she said.

“We’re very excited and at the same time very cautious,” Main-Boyington said.

The former paper mill, which the city acquired five months after it closed in January 2004, has been vacant for more than two years while city leaders worked to redevelop the site into a destination point.

The city selected a developer months after acquiring the site, but after numerous changes and the lack of a signed sales agreement, decided to request new site redevelopment proposals this spring.

The new development team is made up of in-state and out-of-state investors looking to refurbish the 100-year-old mill for several uses including town houses, a health club, a restaurant, retail space and an art-theater complex.

The town houses will be located on all three levels of the former mill with interior courtyards that have natural light streaming in through windows in the ceiling.

A marina and connections to a historic walking trail along the river are included in the investment team’s plans.

The estimated cost of redeveloping the 41-acre South Brewer site is $60 million.

“We really want the public there” to meet the new developers, Main-Boyington said.

Because the announcement is premature, concept plans are not available, she said.

If there is inclement weather, the announcement and introductions will be held at City Hall, 80 North Main St.