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Old 11-28-2017, 10:15 PM   #583
Senior Member
Join Date: Jun 2006
Posts: 224
Re: Portland Bayside

^ I believe the Midtown project's planning board approvals will expire in March after 3 years of inactivity. You used to be able to find commercial real estate listings for the retail spaces, but those haven't been up in years.

At this point, the land is probably more valuable to some other developer, who wouldn't be subject to the court settlement that Federated made with Peter Monro, and would therefore be free and clear to build the 165' buildings that the new zoning laws allow there (IIRC, there's also a 3-year statute of limitations for challenges to new zoning, which passed in April 2013, so it's going to be even harder for Monro & his cronies to challenge a tall project on the site at this point). As narcissistic as he is, it seems like Peter Monro might be aware of all this, which could be why he'd been so eager to see the bland 6-story version of the project built.

Unfortunately, since Federated first pitched this project to address the city's housing shortage, about 1,000 other apartments have already gone under construction, and a few hundred more are in the pipeline in much more attractive locations than this one. It looked like a smart project back in 2013 when other developers and their banks were still sitting on their hands, but now, with so many other projects competing for tenants, I'm skeptical about whether anyone's going to take the risk on building hundreds of new apartments in a flood-prone area of Bayside. From where I sit, the most likely outcome is that the lots will be land-banked and remain empty for several more years at least probably through the next recession, whenever that is, and the recovery.

In the meantime, the trash-strewn empty lots in Bayside will be the most tangible legacy of Peter Monro's pointless career in architecture.
cneal is offline   Reply With Quote