Saulnier Development is proposing to transform the vacant six-acre east side of Saco Island with mixed-use development.
The proposal calls for residential units, a hotel, restaurant, boat slips, public space, a public walkway similar to Portland's Eastern Promenade and possibly a marine business.
The firm, headed by Bernie Saulnier, is under contract with Dirigo Capital Advisors to purchase the land, according to The Journal Tribune. Saulnier Development has offices in Maine and Massachusetts.
Saulnier presented the proposal to the Saco Planning Board, along with architect David Lloyd and engineer Stephen Bushey.
Lloyd told the board the development would be within walking distance to Saco and Biddeford's downtowns.
Planning board members were positive, the newspaper reported, but several had concerns they said should be ironed out before the plan moved forward. Those include the prospect of increased traffic and the impact of development on the Saco River's federal navigational channel.