Commercial real estate pushing Portland’s West Bayside forward

Mainebiz magazine reporter Laurie Schreiber recently wrote a very thorough article about commercial real estate development that is helping to transorm Portland’s West Bayside neighborhood. “A growing number of retail and residential offerings are attracting visitors and prospective residents to the area between Congress Street and Marginal Way,” according to Schreiber.

The article reviews some of many new economic development projects that have been transforming that part of town, including Century Plaza, which Northland has been developing for several years now.

The solid forward momentum is likely continue, as the City of Portland moves forward with its plans to sell seven public works parcel. This property includes land and buildings and totals four acres. The city is in the process of putting these assets on the market, which could lead to further revitalization in the next several years, between Portland, Parris, Alder and Kennebec streets. The city says its goal is to stimulate private sector investment for 24/7 mixed-use development such as small retail or residential.

For the full Mainebiz article, CLICK HERE.

More commercial real estate development has also led to more residential units, like these 55 new apartments on Treble Street. The City has experienced a housing crunch for many years.

More commercial real estate development has also led to more residential units, like these 55 new apartments on Treble Street. The City has experienced a housing crunch for many years.

UPDATE: commercial real estate, Portland, Maine

We are in front of the Planning Board tomorrow night, September 20th, a key milestone. We’ve worked with the City of Portland for three years now on the redevelopment of the old Elks building on outer Congress Street. This key gateway to the city — right outside the airport — will host new businesses, generate new tax revenue and help Portland make a good first impression on visitors. It will also keep many jobs here that would otherwise move outside the city. The planning process is almost finished, and construction should start in early 2017. In this video, Josh Benthien updates the taxpayers of Portland.