Colby College and Alfond Foundation lead impressive revitalization in Waterville, ME

The mill towns of Maine have been dealt a tough hand.

In the last few years, mills have closed in Madison, Old Town, Lincoln, Bucksport, and Millinocket. And that’s just some of the bad news.

But in one mill city, where the hard times came decades ago, something big is happening for the better.

Colby College, which has been based in Waterville for more than 200 years, and the Alfond Foundation, one of the state’s biggest players in charitable giving, are each donating $10 million to a revitalization effort to bring new life to the downtown.

Among the ambitious plans: A huge downtown parking lot will be redeveloped into a mixed-use project, with 200 Colby College students living on the upper floors.

Founded in 1813, Colby is the 12th-oldest private liberal arts college in the country. Located in central Maine, our 714-acre Mayflower Hill campus overlooks downtown Waterville and the Kennebec River Valley.

Colby’s 2,000 students come from nearly every state and more than 70 countries to take advantage of our renowned academic programs, a curriculum that encourages educational exploration, and collaborative learning experiences led by world-class professors.

The mission of the Harold Alfond Foundation is to further the legacy of Harold Alfond by investing in education, healthcare, youth development, and other philanthropic charitable causes that hold the promise of making enduring transformative contributions to the community and State of Maine.

Watch 2-minute WCSH video by Rob Caldwell and Krister Rollins.

See Colby College website.

See Alfond Foundation website.

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