Next: As he develops much-needed housing, Tom Watson is hooked on Maine
PHOTo / Tim Greenway
Tom Watson of Port Property Management in Portland
Developer Tom Watson has been doing projects in Portland since 1993, including Fisherman’s Wharf, but in the past three years, he’s focused on West Bayside. Projects include the mixed-use development at 82 Hanover St. and a 171-apartment building with ground-floor retail at 52 Hanover. Both are on former Portland Public Works properties. He’s also redeveloping nearby Bayside Village into another 196 workforce apartments and, in Biddeford, developing 71 units at the Riverdam.
Mainebiz: What prompted your move to Maine and what about Maine’s development landscape do you like?
Tom Watson: I’m from Massachusetts and came to play in an ultimate frisbee game in 1993. The team invited me to Gritty’s afterwards. That’s all it took. Great beer, great people, beautiful city — I was hooked. I never left Maine (though I eventually left Gritty’s that day). We are incredibly fortunate in Maine to have municipalities that work with developers and help manage that very public process. For me in particular, that’s Portland and Biddeford.
MB: What do you like about West Bayside?
TW: My partner Joe Porta is responsible for my involvement there. He presented our shared vision to the city, resulting in successful bids on two very important parcels. We’ve nearly completed the first and the second is in planning. I must say I like just about everything that’s going on in West Bayside. It’s so energized. I think the only missing piece is the one we’re adding — a larger residential property to bring a 24/7 vibrance.
MB: What are the biggest changes you’ve seen?
TW: No question, it’s the people. The folks who are developing today have vision and truly care about the cities in which they work. I feel very lucky to be in the company of some exceptionally hard-working and bright people. Jonathan Culley, of Redfern Properties, comes to mind — a thoughtful developer who looks beyond the building envelope at things like sustainability and walkability. Joe Porta is one of the brightest real estate minds I’ve ever met. Also, look at what Jim Brady, Chip Newell and Avesta are doing. The list goes on. It’s a really impressive group, and these cities are benefitting tremendously.
MB: What are the biggest immediate challenges for local development?
TW: Hands down the biggest threat is two referenda on the Portland ballot that will kill future development. Question D [rent control], will stop dead in its tracks the recent push to build nearly 800 market-rate apartments that the city desperately needs. Question C [Green New Deal], would increase affordable housing project costs and have very little impact on the environment. Affordable housing units, including nearly 600 affordable units in the pipeline, likely wouldn’t be built. These proposals might sound good, but when you dig into the details, you see how they are going to hurt the people they’re supposed to help.
MB: What’s your dream project?
TW: I’m really an apartment guy. I get such a kick out of creating thoughtful spaces where people feel comfortable, safe and happy. I’ve been invited by tenants to their apartments, and it’s a thrill to see how creatively people turn these spaces into homes. So, my dream projects are the ones we’re doing now: reconfiguring 132 Marginal Way in West Bayside into 196 workforce units; 71-unit Riverdam in Biddeford; the 171-unit community at 52 Hanover; and our affordable condominium project, the Goodwin, at 104 Grant St. All very exciting projects.
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