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Ocean Properties, Tom Walsh’s Portsmouth-based development company, yesterday submitted a proposal to the Bar Harbor Planning Department for a 120-room hotel along the waterfront there.
The $12 million West Street Hotel will occupy some of the land Walsh purchased along Bar Harbor’s commercial waterfront this summer, according to the site plan application. In June, Ocean Properties and LLCs tied to the company purchased $2.2 million in small lots on Rodick and West streets in downtown Bar Harbor. The purchases included six private homes in the area.
The West Street Hotel, which awaits planning board approval, would include a 125-seat “café style” restaurant and retail and commercial space. The hotel will operate from early spring through late fall and during peak season will employ 80 people. Ocean Properties indicated the project’s costs are “well within applicant’s financial resources, including cash-in-hand and lines of credit,” according to the site plan application.
It's a shame that the Portland city council didn't stick with the original plan in giving Ocean Properties the exclusive to develop the waterfront pier project. Instead they wasted time, changed their tune, decided to go with the Olympia company, who in turn reneged on the whole deal and left Portland holding the bag. Ocean Properties has ample capital to finish any project that they start. Looks like Portland missed out on another wonderful opportunity, just like the new Civic Center that the Libra Foundation offered to build, not to mention the project Joe Boulos proposed five years ago for a new arena/convention center which would have brought in numerous conventions to Portland. Maybe one day they will finally get their act together. It would be nice for Portland to get the recognition it deserves. Oh well.....
It is gratifying to see that there are some positive signs of economic activity in this recession. Ocean Properties development is welcome news, their properties are well-developed and well-managed. Job creation from this development emphasizes what is happening in Maine, an entrepreneurial state!
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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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