well, i just found this artcile about the village proposal today... :lol:
Developers downsize Village Cafe project ? again
PORTLAND ? The Boston-based developers hoping to turn the Village Cafe property into the Village at Ocean Gate condominiums have again scaled back their plans for the site.
GFI Partners is now proposing three buildings, varying in height from four to five stories, with a total of 156 condominium units on the 1.8-acre site. The buildings would be constructed in two phases, with initial prices for the condominiums expected to be in the range of $300,000.
The original plan submitted last October called for five buildings ranging from four to nine stories with 250 units. That proposal was revised in December to 200 units in five buildings that were between four and seven stories high.
In a letter to the Planning Board, which was scheduled for a workshop Tuesday with GFI, Demitrios Dasco, managing partner the the project, said the plans were revised for several reasons, including market limitations and financing.
GFI submitted plans for its new development last week. The plans call for constructing the three buildings with wood framing instead of steel and concrete to reduce costs, and joining two of the buildings. GFI is seeking conditional rezoning of the Village Cafe property that would allow it to build a mixed-use project and for a relaxation on the setback requirement for its parking garage entrance.
According to the letter from Dasco, GFI changed the building frames to wood because the cost of steel would have forced the developer to price the condominiums higher than what is considered market rate. He said while constructing with wood should cost about $300 per square foot, steel construction would cost about $600 per square foot.
?With the rising costs of construction for steel and concrete structures, we concluded that the existing local real estate market could not absorb units at a price point that made the economics work for this project, and ultimately led us to revise our development plans,? he said.
Included in documents outlining the project was a list of issues raised by Planning Department staff about the redesign, including that the two joined buildings along Hancock Street and Newbury Street are ?monolithic in form,? stretching 230 feet and 220 feet. The staff recommends in its memo that those buildings be broken up to better fit the scale of the neighborhood.
Dasco said GFI is interested in working with the Planning Board to create the appearance of separate buildings.
The city staff also said the entrances to the buildings are not prominent enough and are not in the preferred spot on each building. Main entrances are shown within the buildings, coming directly out of the below-ground parking garages. They also said the public should have access to the private courtyard planned between the buildings on Hancock and Newbury streets.
The Village at Ocean Gate still includes a 4,000-square-foot space for the Village Cafe and about 4,000 square feet for retail shops.
The project would occupy nearly two blocks bordered by Hancock and Middle streets and straddling Newbury Street. The Village Cafe and shops would be on Middle Street. Two of the buildings would be on the property currently occupied by the Village Cafe and another would be across Newbury Street, backing up to townhouses now under construction on Federal Street.
The Planning Board workshop with GFI on Tuesday was held after the The Forecaster?s deadline.
Kate Bucklin can be reached at 781-3661 ext. 106 or
kbucklin@theforecaster.net.
the longfellow