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Presque Isle Main Street 2 (1) (1)
The Northeastland Hotel has been part of Presque Isle s Main Street for decades. Ignite PI, a nonprofit development group, is working to acquire and operate the hotel. Credit: David Marino | The Star Herald
The Northeastland Hotel has been part of Presque Isle s Main Street for decades. Ignite PI, a nonprofit development group, is working to acquire and operate the hotel. Credit: David Marino | The Star Herald
Ignite PI purchases the Northeastland Hotel in Presque Isle More than $280,000 in individual donations and pledges, several grants and a loan by the Northern Maine Development Commission made it possible for the Presque Isle not-for-profit community development corporation to purchase the hotel from the Hedrich family.
The Northeastland Hotel, a fixture in downtown Presque Isle for nearly a century, has a new owner.
Ignite Presque Isle, a nonprofit community development organization, closed Monday on its purchase of the 50-room inn, according to a news release. The group plans to renovate the Northeastland and continue operations, while also building out some of the property as a co-working space and business center.
Terms of the deal were not disclosed. Ignite PI agreed to the purchase two months ago, backed partly with a $1.5 million grant from a local philanthropy, the Rodney and Mary Barton Smith Family Foundation. Ignite PI fundraised over $280,000 through individual gifts to come up with the balance, the release said.