Mark McClure

The project broke ground as a condominium development in 2022 and converted to rental apartments in 2024.

With financing secured, developers will start this spring on a conversion of 154 Pepperell Mill apartments into condos.

Pine State Services will join the Innovation District at the Downs, while Pepperell Mill receives $31 million in financing to convert apartments to condos.

Among other news, the Saco River Corridor Commission will meet Aug. 28 to discuss a proposal by the University of New England to build a pier on the Saco River.

Mark McClure, a Miami developer who grew up in Cape Elizabeth, has closed on a $24 million loan for the ongoing construction of his high-end, 45-unit condominium complex in Cumberland Foreside. Financing came through a new program in Maine, C-PACE.

Developer Mark McClure, who has two housing projects underway in southern Maine, is launching a brand that will specialize in luxury short-term rentals. He's looking for Maine properties.

The Mark, as it will be known, is expected to be an $21.5 million investment. DeStefano & Associates, which is based in Portsmouth, N.H., is the general contractor, while Shinberg Consulting of Portland is the project manager.