Thompson’s Point developers ink key deal
Developers of a mixed-use development along the Fore River in Portland have secured a deal to move an existing tenant, clearing space across from the nearby Amtrak station for a 3,500-seat arena and event center.
The Portland Press Herald reported that Suburban Propane, which occupies 2.5 acres at the redevelopment site, has agreed to move if developers buy them a three-acre, city-owned parcel on Riverside Street. Chris Thompson, of Forefront Partners I, told the paper his group plans to buy that city-owned property for $300,000 and build Suburban Propane a new facility on the site.
City officials are now expected to discuss the potential sale, which would clear the way for the project to move ahead. Thompson said the timeline would move Suburban Propane within 18 months of the city’s decision. Developers said putting the events center across from the station for the Amtrak Downeaster would allow easier travel to and from the building.
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