Portland, ME - New Construction Continued

[Dr. StrangeHat]

The economics of development make it challenging and somewhat cost-prohibitive to build below-market-rate housing without subsidies to maintain desired ROI, especially given rising construction costs. The good thing about hotels is that they can be converted to housing, but that won’t happen as long as occupancy rates continue to hold despite the influx of hotel rooms. If the occupancy rate ever drops below a certain level, then building owners will likely begin to convert to housing. I just don’t see that happening anytime soon.

Unless the city sets a cap on hotel rooms in the city, increases the fee in lieu of housing and/or ties the fee to the number of rooms across the city in aggregate (e.g. fee continues to go up as more hotel rooms are added), then I’m not sure there are workable solutions other than the city getting more involved in housing development financing.

 

[TC_zoid]

The economics of development make it challenging and somewhat cost-prohibitive to build below-market-rate housing without subsidies to maintain desired ROI, especially given rising construction costs. The good thing about hotels is that they can be converted to housing, but that won’t happen as long as occupancy rates continue to hold despite the influx of hotel rooms. If the occupancy rate ever drops below a certain level, then building owners will likely begin to convert to housing. I just don’t see that happening anytime soon.

Unless the city sets a cap on hotel rooms in the city, increases the fee in lieu of housing and/or ties the fee to the number of rooms across the city in aggregate (e.g. fee continues to go up as more hotel rooms are added), then I’m not sure there are workable solutions other than the city getting more involved in housing development financing.

A few years ago we had a large market rate development ready to go but the city and a few selfish residents killed it (with around 1,800 units for the empty lots in Bayside). This would of lowered the average cost of housing in Portland, thus helping on the affordable housing problem. The solution is a larger scale development to create quantity but those in power in Portland do not want it (or on the peninsula, anyway). And hotels can not be converted to housing because of design limitations unless it becomes a boarding house, which results in transients. Who wants that? And the city can't set a cap on more hotel rooms, unless you want a de facto Marxist economic policy. The solution is apparent -- more housing needs to be built outside the peninsula with better mass transit solutions. Westbrook is a realistic idea, they are amenable to it, with a train connector to the peninsula. Amtrak is already proposing the idea (see PPH article from a few days ago). Portland needs to think in the bigger picture as it continues to grow due to its proximity to the thriving Boston area. And you won't stop the tourists from coming to clog the city, but then, who wants to? That's easy money.

 

[portlandneedsnewarena]

A few years ago we had a large market rate development ready to go but the city and a few selfish residents killed it (with around 1,800 units for the empty lots in Bayside). This would of lowered the average cost of housing in Portland, thus helping on the affordable housing problem. The solution is a larger scale development to create quantity but those in power in Portland do not want it (or on the peninsula, anyway). And hotels can not be converted to housing because of design limitations unless it becomes a boarding house, which results in transients. Who wants that? And the city can't set a cap on more hotel rooms, unless you want a de facto Marxist economic policy. The solution is apparent -- more housing needs to be built outside the peninsula with better mass transit solutions. Westbrook is a realistic idea, they are amenable to it, with a train connector to the peninsula. Amtrak is already proposing the idea (see PPH article from a few days ago). Portland needs to think in the bigger picture as it continues to grow due to its proximity to the thriving Boston area. And you won't stop the tourists from coming to clog the city, but then, who wants to? That's easy money.

Four 6-story Apartment buildings are currently under construction at 450 Clarks Pond Parkway near the Maine Mall. Just around the corner from Home Depot. 256 (212 two bedroom and 44 one bedroom) market rate apartments.

 

[TC_zoid]

That helps, but not sure I would want to live within walking distance of the Olive Garden and The Tilted Kilt. (One reason why WEX left the area.)

 

[JohnAKeith]

Uh ... what?

Who has a link or the document? I mean, c'mon.

Did the original archBoston commenter delete the renderings or did a moderator delete the post(s)?

The developer came to the thread and asked that it be taken down, since the conceptual renderings that were leaked were supposed to be confidential. They are very early in the process for the development and want to better control release of information to the public given the nature of the proposal and typical public reaction to such projects in Portland.

 

[Corey]

Lots of interesting stuff happening around the peninsula. I'm also curious how the hotel boom will play out but for what it's worth the rendering of the new one on Congress, next to Tandem, looks great.

The talk about expanding rail service and relocating the Portland Amtrak station is good to hear as well. It seems like a more regional approach would be useful when it comes to things like housing (as well as homelessness) and transportation.

Verdante at Lincoln Park

58 Boyd Street

 

[PortlandLifeGuy]

Looks the tower downtown isn't happening based on what I've heard. Also can someone send me that rendering that got taken down?

 

[Cosakita18]

Looks the tower downtown isn't happening based on what I've heard. Also can someone send me that rendering that got taken down?

What's your source on that?? Seems a little quick to abandon a project so early in development.

 

[PWMFlyer]

Latest Report from Malone Commercial Brokers

 

[markhb]

Is there a site plan for Covetrus? Are the hotel, etc. going to front on Hancock, which would leave the offices facing Mountfort?

 

[Dr. StrangeHat]

Is there a site plan for Covetrus? Are the hotel, etc. going to front on Hancock, which would leave the offices facing Mountfort?

http://www.portlandmaine.gov/AgendaCenter/ViewFile/Item/6676?fileID=37964

Construction is already well underway

 

[Portlander]

Great project but I have always felt that the three residential buildings on Newbury Street look out of place and should have been built as one continuous structure. I do understand the developers efforts to make them blend in more with the north side of the street.

 

[Dr. StrangeHat]

Great project but I have always felt that the three residential buildings on Newbury Street look out of place and should have been built as one continuous structure. I do understand the developers efforts to make them blend in more with the north side of the street.

Agreed. The first two buildings look fine contextually with the old Shipyard building behind them, but this third building looks out of place with the larger office building behind it. One continuous structure would have fit better.

 

[Max]

Not shown in that rendering are the poles and wires that will be strung directly in front of those residential buildings on Newbury Street. The developers asked for a variance to not have to bury the powerlines for this project, and the Planning Board granted it, unfortunately.

 

[mainejeff]

Not shown in that rendering are the poles and wires that will be strung directly in front of those residential buildings on Newbury Street. The developers asked for a variance to not have to bury the powerlines for this project, and the Planning Board granted it, unfortunately.

Hard to believe that in this day and age and with the direction that the City of Portland is headed.....that they are still not burying power lines with new developments like this. It screams small time penny pinching provincial Maine!

 

[Cosakita18]

Hard to believe that in this day and age and with the direction that the City of Portland is headed.....that they are still not burying power lines with new developments like this. It screams small time penny pinching provincial Maine!

Not only on Newbury st, but Portland Foreside too. New utility poles scaring the harbor view. I'm similarly baffled by the lack of concern for urban design and streetscape visuals in new developments.

 

[PWMFlyer]

Portland Foreside will have underground utilities, because the site has been neglected for years and originally designed for above ground utilities since the 1800's they had to circumvent the utilities to the outside of the property while renovating the site. The buildings and the site will be an attraction after all is done.

 

[PWMFlyer]

 

[Dr. StrangeHat]

But what are they going to do with the existing above-ground utilities along Fore Street? Are those going underground too, or just everything on site?

 

[TC_zoid]

Jeez... those power lines are smack dab in the middle of the view line to the harbor. But I don't think most Mainers care about aesthetics, being the fashion trend is focused only on the pragmatic end, still wearing decades old LL Bean wear and boots. And wow, that Sun Life building will top the WEX rooftop entertainment space (higher). An insurance company will have the best bar space in Portland. Who likes buying insurance? It's like going to the dentist. You have to do it. But if they can serve you a drink up there after the paperwork, then maybe not so bad.