Three developers that together want to build up Portland’s Bayside neighborhood got a boost Wednesday after the city’s community development committee recommended the city manager negotiate a deal with them.
MaineHealth/United Way of Greater Portland, The Olympia Cos. and Waterman Housing LLC of Yarmouth have offered $3.3 million for 3.3 acres in the Bayside area, according to the Portland Press Herald . The committee nixed a proposal from the Developers Collaborative of Portland to buy the land for $3.25 million and build office, retail and residential space, plus a parking garage.
The three developers have proposed building two office buildings, a housing complex and a parking garage with retail space. The committee said all three, including nonprofits, must pay full property taxes or make an equivalent payment instead of taxes, the paper reported.
