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Old 02-09-2018, 02:59 PM   #3176
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Join Date: Jun 2016
Posts: 189
Re: Portland, ME - New Construction Continued

Originally Posted by PortlandArch View Post
Burlington, Vermont of all places is currently seeing the construction of hundreds of new apartments, thousands of square feet of retail, and office space on their main pedestrian mall in several high-rise buildings (google: Burlington Town Center development).
It's only a matter of time until we get another 10+ story proposal. The peninsula is quickly running out of easilly buildable empty space. Vacancy rates remain low and land values keep climbing. The owners of some of the big parking lots (Portland Squre and top of the Old Port) know that they're sitting on gold, and they'll wait until the market is white hot before they sell to a developer.

But as you said, by the time that happens we might be heading right into another 2007 style crash.
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