Portland invites proposals for Midtown properties

The four long-vacant parcels in Portland’s Bayside neighborhood, known as the Midtown properties, have just been listed for sale or lease. This 3.5-acre tract along Somerset Street, stretching from Franklin to Elm streets, between Whole Foods and Trader Joe’s, is separated into four lots. The listings on the designated broker's website say the city will consider offers, "to purchase, lease or otherwise develop" one or multiple parcels. No sales or lease prices have been listed. Interested parties are invited to submit proposals through the Boulos Co., the broker for the properties. The properties had been targeted for a large multi-use development in 2016 by Florida-based Federated Co., which purchased them from the city in for $2.6 million. The project became mired in legal disputes and never got off the ground. The city purchased the parcels back from the developer in July 2025 — for $15 million. Housing is the priority Recently changed zoning regulations allow for the construction of dense commercial housing — possibly as tall as 16 or 17 stories — along with other uses. When City Council discussed priorities for the properties at a June workshop, the consensus was that the sites should support mixed-income and family housing, along with “community-oriented services and retail.” Nate Stevens and John Finegan are the Boulos brokers handling the properties. “This is an exceptionally rare opportunity to make 3.5 acres of developable land in downtown Portland available for sale or lease, and we expect considerable interest from local and regional parties," Stevens told Mainebiz. “The location, scale and potential for meaningful new housing, retail, community and service-related uses, make this a truly unique opportunity for the right vision and investment.” The city’s website has a Midtown project page, which provides more information.