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Old 06-25-2019, 09:22 AM   #3521
PWMFlyer
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Location: South Portland Maine
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Re: Portland, ME - New Construction Continued

The Aloft Hotel project will start next week, Opechee construction has a trailer on site. With two separate projects going on at the same time, it was in the best interest to have the Hobson condo project fly the steel first then move the crane to the other side to construct the other condo building. Other waterfront news is the remnants of the Scotia Prince building is coming down and the hole in the wharf will be filled in the have a bigger area to offload containers. The building where Auto Europe is under contract to be sold. Auto Europe is moving to a new location in 2020. Where?? What will happen about the TIF the city provided to Auto Europe? Other news is 511 Congress has been sold to an out of state developer and will be renovated to class A. No update on 477 Congress, I have heard either Hotel or residential but no office is in the works.
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Old 06-25-2019, 05:58 PM   #3522
Max
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Re: Portland, ME - New Construction Continued

Wow, thanks for the updates! Interesting stuff happening all over town.
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Old Yesterday, 10:24 AM   #3523
cneal
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Re: Portland, ME - New Construction Continued

The Auto Europe TIF expired in 2011 after 15 years. See https://www.portlandmaine.gov/Docume...repared-2-2018.

That company did well to renovate the building when they did, but they're basically telemarketing customer service, and there are lots of more lucrative companies out there that will be willing to pay much higher rents for waterfront office space.
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Old Yesterday, 06:58 PM   #3524
Cosakita18
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Re: Portland, ME - New Construction Continued

Quote:
Originally Posted by PWMFlyer View Post
Other news is 511 Congress has been sold to an out of state developer and will be renovated to class A.
511 isn't class A already? that's surprising.

hope the renovations are external as well. That dark brown cladding really hasn't aged well.
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