Investor overview · Historic hospitality
Invest in The Marjorie
60 Lowell Street, Rumford, Maine
A real asset in a real Maine town. We plan to bring a historic 1891 paper bag mill back to life as a 56-room boutique hotel and downtown anchor in Western Maine's mountains — to be operated by one of the state's most acclaimed hotel teams.
- 56
- planned boutique hotel rooms
- 64,000
- sq ft historic mill
- 11–14%
- target levered IRR
- 2.5–3.5x
- target equity multiple
The place
A walkable downtown on the river.
The Marjorie is planned for 60 Lowell Street, in the heart of downtown Rumford — a historic mill town with good bones, a walkable main street and a riverfront — minutes from Sunday River, Black Mountain and the Androscoggin, with trails, paddling and fly fishing at the door.
- 3 hrs
- From Boston
- 1 hr 45
- From Portland
- 1 hr 15
- From Augusta
The problem
Travelers are coming to Western Maine. There's nowhere great to stay.
Skiers, riders, paddlers and workforce crews already come to the Rumford area, but most lodging is tired '80s and '90s stock. Inland Maine remains underbuilt compared with the coast — we see that gap as the opportunity.
Unmet lodging demand
Rumford's Best Western outperformed the Town's 2017 market study. Leaders say it can't meet local demand.
Dated supply
Area lodging reflects '90s trends — few suites, kitchenettes, wellness or gathering spaces.
A strong short-term market
Oxford County has Maine's 2nd-highest Airbnb revenue at $12M+ a year — travelers are already coming.
A landmark sitting idle
The 1891 Rumford Falls Paper Co. bag mill has waited decades for a new purpose.
The solution
A hotel dedicated to the grandmothers who loved us.
The Marjorie is planned as an authentic destination stay, not a generic luxury project — an independent boutique hotel in a walkable historic downtown, designed in a warm "grandmother industrial" style for adventure weekends, long stays and group gatherings. It is meant to save a landmark and give the town a place to gather again.
Planned amenities
- 56 rooms, 380–650 sq ft, many with lofts and en-suite kitchenettes
- Restaurant and cafe serving food sourced from Maine farms
- Pool, hot tub, sauna and fitness center with room for spa and yoga
- Coworking space and business center with high-speed internet
- Arcade, meeting space and event rooms for groups
- Rooftop solar array to offset energy costs
Completed work to date
The team bought the building in 2020 and has invested more than $967,392 in upgrades: life-safety improvements, a new white foam roof, an LED lighting upgrade, lobby rehab, and public art made with local school kids.
Market opportunity
$9.2B
Maine's annual tourism industry, with 14.8 million visitors in 2024. Maine luxury and boutique hotels have outperformed the broader U.S. lodging industry across every major metric since 2021.
$1.17B
Tourist spending in Maine's Lakes & Mountains region in 2024.
$10M+
State and federal funds invested in Rumford in 2024 alone.
3 hrs
From Boston. 1 hr 45 min from Portland, 1 hr 15 min from Augusta.
The capital advantage
Historic tax credits are expected to turn rehab costs into project equity.
We manage the complexity of the capital stack so you don't have to. Federal (20%) and anticipated Maine (35%) historic tax credits are designed to work like a grant — they would fund an estimated 35% of total project cost with no principal or interest payments, while 100% of operating cash flow and upside would belong to equity investors.
Step 01
$35.18M
Total project cost
Step 02
$28.10M
Estimated qualified rehab basis
Step 03
$15.45M
Federal + state credits generated
Step 04
$12.08M
Estimated net credit proceeds
The operator
Run by the team behind the Longfellow.
Uncommon Hospitality operates four Maine hotels, including Portland's Longfellow — named by Vogue, Travel + Leisure and Condé Nast Traveler among the best new hotels. In year one, its room revenue beat projections by 37% and EBITDA by 25%. An experienced operator is intended to run day-to-day hospitality, so investors are not expected to manage the hotel.
- 4
- Properties
- 187
- Keys
- $60M
- Assets managed
Hotel projections
A projected path to $2M+ in annual EBITDA.
Company projections based on current operating assumptions — targets, not guarantees.
| Year | Occupancy | Avg. daily rate | Total revenue | EBITDA |
|---|---|---|---|---|
| Year 1 | 62.96% | $248.58 | $4.28M | $1.34M |
| Year 2 | 66.11% | $273.44 | $4.90M | $1.78M |
| Year 3 | 66.11% | $300.79 | $5.39M | $2.09M |
| Year 4 | 66.11% | $309.81 | $5.55M | $2.13M |
Every dollar invested could return…
3.13x
Illustrative limited partner example through 2036.
You invest
$250K
By 2036
$782K
You invest
$500K
By 2036
$1.56M
You invest
$1M
By 2036
$3.13M
Milestones reached
The work is already underway.
This is not a paper concept. Since 2020 the team has been moving the Marjorie building through design, approvals and tax-credit programs.
January 2020
Building purchased
The development team bought the former mill building on the river corridor.
2020–2023
Upgrades completed
Life-safety improvements, a new white foam roof, LED lighting, a lobby rehab and public art with local school kids — over $967,392 invested.
March 2023
Energy audit complete
Audit finished and the REAP grant application was submitted.
July 2023
Local site plan approved
Site plan approval granted locally in Rumford.
August 2023
75% drawings complete
Construction drawings reached the 75% milestone.
March 2024
Historic Tax Credits approved
Federal and state Historic Tax Credit Parts 1 and 2 approved.
How it works
From historic mill to opening day.
01
Nov 2026
Crowdfunding launch
Open to accredited and non-accredited investors.
02
Jan 2027
Predevelopment close
Early-stage priority equity is placed.
03
Jun 2027
Plans & financing
Construction plans and financing complete.
04
Jul 2027
Construction begins
Loans close and historic rehab starts.
05
Jul 2029
The Marjorie opens
Doors open in downtown Rumford.
Target schedule. Actual milestones and dates may change.
The team
Woman-owned, rooted in Rumford.
Scrappy and persistent — we pivot, we don't fail. Our five committed investors include three members of Rumford High School's Class of '82 and family who worked in this very paper mill.
Kara Wilbur
Developer, Managing Partner
20 years in planning and 14 in real estate development, including historic rehab, mixed-use and workforce housing across Maine.
John Clark
Developer
14 years in real estate investing; part of the investment team for the Four Seasons Napa Valley Hotel & Private Residences.
Melissa McHugh
Developer
Seasoned development and operations leader on affordable housing and mixed-use projects.
Investment snapshot
Raising $1.25M in early-stage priority equity.
- Target offering
- $1,250,000 early-stage priority equity
- Planned total raise
- $7.5M for full redevelopment
- Target ownership position
- 16.67%
- Target hold period
- 10 years
- Major subsidies
- Federal HTC (20%), Maine HTC (anticipated 35%)
- Sponsor / operator
- Dooryard / Uncommon Hospitality
Investor inquiry
Curious how The Marjorie can fit into your legacy-building portfolio?
Complete the form to receive more information about this investment opportunity.
This page is for informational purposes only and does not constitute an offer to sell or a solicitation to buy securities. Any offering will be made only through the applicable offering materials and in accordance with relevant securities laws. Statements on this page regarding future plans, milestones, projections and returns are forward-looking statements based on current assumptions and expectations; they are not guarantees of future performance, and actual results may differ materially. Investing involves substantial risk, including possible loss of the entire investment.