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January 12, 2009

Developer proposes new Portland pier development

By The Mainebiz News Staff

Another Portland pier is being eyed for a multi-million dollar makeover that includes a luxury hotel and spa.

Eric Cianchette, the owner of the Portland Regency Hotel, met with city officials on Friday to outline his plan to spend between $35 million and $50 million to build a five-story luxury hotel, spa, retail shops and restaurants on the Maine Wharf, which he owns, according to the Portland Press Herald. Cianchette is lobbying for a change in a city ordinance passed in 1993 that restricts hotel and other development on the waterfront. Those regulations were waived in 2006 to allow development of the city-owned Maine State Pier, a move that has prompted private wharf owners like Cianchette to lobby for the same development rights.

Cianchette has teamed up on the project with Joseph Malone, a local commercial real estate broker, and Joseph Stevens, a lawyer at Perkins Olson. The team is expected to present its proposed zoning changes to city officials by February, the paper reported.

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