The space has been ready for development since last year, offering 5 acres of land. The town has held an additional 2-1/2 acres for municipal development.
"Now the nice thing about that particular piece of property, it's right at the confluence of the two rivers, the Penobscot and the Piscataquis rivers, so it's really a nice spot and now it is ready for the next step," Town Manager David Wilson said.
The site, near Veteran's Memorial Park, already is home to walking trails.
Wilson said the site could be used for anything from retail to housing.