A decade ago in Portland, hotel rooms were under construction, national retailers were joining area malls and housing prices were starting to soar. Yet Maine’s largest city was just starting to become a hot destination.
It was 2014 and the Maine economy was just starting to emerge from the effects of the 2008-09 Great Recession.
The April 21, 2014, cover of Mainebiz
The April 21, 2014, issue of Mainebiz had a cover story, “Destination Portland: ‘Wow, they’re thinking of coming here’ is the new mantra for 04101 and beyond.”
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Today, with housing prices still hitting new highs and development continuing at a brisk pace, the cover theme seems dated, but consider this.
The 2014 story looked at the arrival of Michael Kors and Microsoft stores at the Maine Mall. Upscale condos were selling for $600,000 and more on Munjoy Hill. Some 500 hotel rooms were under construction in the city.
Urban dwellers now had their choice of coffee shops — the chain Starbucks or a range of independents, including Coffee By Design. And the city’s mayor at the time, Michael Brennan, touted $250 million in commercial and residential development in progress in Portland.
“It’s a hot, exciting city,” one real estate broker told our reporter. “And people are paying a premium to live here. Look at all the high-end condos springing up.”
Fun fact
Dentists were in short supply in Maine, as the Mainebiz issue of May 5, 2014, reported. Some two-thirds of dentists in Maine were over 50, including the third of the dentists who topped 60 years old. There simply weren’t enough younger ones joining the profession, the story reported. As a result, dental practices were increasingly relying on hygienists, assistants and new technology “to see more patients and enhance productivity.”
