$10M condo development breaks ground
Construction began on a $10 million condominium project in Portland this week, making it the first development of its kind in the city with units over $1 million.
118 on Munjoy Hill, once completed, will be a four-story building that includes 12 residential units and two street-level commercial spaces, according to a press release. The development is one of the several upscale projects coming to the greater Portland area, as reported by Mainebiz.
The boutique condominium, which will be located at 188 Congress St. in Portland’s East End neighborhood, has already attracted four buyers. A sales center will open in mid-June, providing potential buyers an opportunity to look at floor plans of the remaining units. The prices for the remaining units start at $725,000 and go beyond $1 million.
“Our discriminating buyers represent the new urbanites; looking to downsize, yet wanting to customize their homes,” Susan Morris, co-developer and resident, said in a statement. “We did our homework on what baby boomers want, seeking to create timeless urban homes.”
118 on Munjoy Hill being developed by Morris and Chip Newell of Boothbay Harbor-based The NewHeight Group and Ed Theriault of Portland-based architecture firm TLA, with design and construction work by Archetype Architects and Wright-Ryan Construction, both of Portland.
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