Lawsuit kills Portland condos
A project one Portland city councilor yesterday called the "single greatest shot" for transforming the former industrial neighborhood of Bayside is dead after a lengthy court battle ruined its chances of securing financing.
Developer Jeffrey Cohen has backed out of his proposal to build Waterview, a 12-story condominium building on Cumberland Avenue in Portland, after a lawsuit filed by neighboring Back Bay Towers delayed the $31 million project for over a year, according to the Portland Press Herald.
Cohen received approval from the city for the project in the spring of 2005, but Back Bay sued, saying the building would block its scenic views. The court ruled in favor of Cohen in August 2006, but by then Cohen was unable to find financing.
The property at Forest and Cumberland avenues, now overgrown with weeds, will be sold at auction next month, and the city has extended the permits for one year to allow another developer to complete the project as approved.
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