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The pace of construction continues this winter. The 2023 outlook presented at MEREDA’s annual Real Estate Forecast Conference and the Mainebiz “5 on the Future” conference showed that while there are plenty of challenges this year — including higher interest rates, continued high construction and materials costs and the threat of recession — most of the larger construction companies have work booked well into next year.
Here’s an update on some of what’s under construction now.
In Portland’s West Bayside neighborhood, Port Property is developing a 171-unit apartment building. Penobscot General Contractors is managing construction. Port Property has another project in the leasing phase: The Levee in Biddeford will have 96 loft apartments.
Steve Woods, founder of Falmouth-based TideSmart Global, reports that he and partners, under Zacamy Group LLC, have acquired the building that formerly housed the G.H.Bass Outlet at 100 Gorham Road in South Portland. Part of the space will house an innovative wellness spa, Restore Hyper Wellness. Ducas Construction is managing the construction. The conversion is underway, with an early March opening planned. Restore Hyper Wellness is a chain based in Austin, Texas. As a side note, Woods says the Boulos Co. is actively looking for tenants for the two other spaces in the building. He says they’re looking for tenants that fit the health-and-wellness and/or medical focus. The building will have solar power, quad EV charging station and water-and-air purification systems.
Atlantic Federal Credit Union is getting close to opening day of its new branch on Riverside Street in Westbrook, with a date to be announced soon.
Zachau Construction has a number of projects in various states of completion, including the L.L.Bean headquarters in Freeport, the former Mercy Hospital conversion to apartments, renovations at the Hannaford headquarters in Scarborough and upgrades to the Wolfe’s Neck education center in Freeport, among others. Its expansion of the 317 Community Music Center in Yarmouth is nearly complete.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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