Don't they need blueprints first? I must have missed the site plans on the planning board agenda.
Don't they need blueprints first? I must have missed the site plans on the planning board agenda.
P
Patrick
Guest
I heard from the company today--the rendering floating around the internet is just for presentation purposes (google Maritime Landing Portland if you haven't seen it) and there is no other rendering yet because they are still speaking to the city...they will send along when complete, though, and I'll share.
Here is an article which appeared in The Forecaster about the Bayside Land.....
Portland may 'fine tune' contract to develop Bayside land
By Randy Billings
E-mail and share
Nov 29, 2011 12:00 am
PORTLAND — Property inspections for a mixed-used development in Bayside are taking longer than city officials had hoped.
Now, the city is considering extending the deadline outlined in the contract by 60 to 90 days. But it's unclear whether the city will enforce financial penalties for the delay.
The City Council on May 23 agreed to sell 3.25 acres of land between Elm and Franklin streets to Miami-based Federated Cos. The land, which had been on the market for $3.6 million, sold for $2.28 million.
At the time, the city put specific benchmarks in its contract to prevent the company from just sitting on the land and reselling it. The contract essentially gives the company a year to conduct due diligence and obtain the necessary permits.
Greg Mitchell, the city's economic development director and acting planning and development director, said the city is still in the early phases of discussion and feedback with the developer.*
Mitchell said the company is considering commercial, retail and office uses, as well as residential development and parking garages.
But, he said, "there has been no formal application filed with the city."
Federated is marketing the development as "Maritime Landing," but Suzanne Tamarago, the company's vice president of marketing, referred all questions about the project to city planners.
While no formal application has been submitted, preliminary drawings show seven buildings situated along Somerset Street.
The first floors of each building would be dedicated to more than 90,000 square feet of retail uses. More than 200 one-bedroom and nearly 350 two-bedroom residences would provide nearly 500,000 square feet of market-rate living space.
Parking for more than 300 vehicles would be above the first floor retail space and below the residences of four residential buildings. A garage with space for another 700-plus vehicles would be near a building offering about 96,000 square feet of office space.
The city gave Federated about a year to obtain approvals.*
The agreement required the company, which has offices in Miami and Boston, to make a down payment of $25,000. It had 60 days to inspect the property, before another $25,000 deposit was required.
The company was given 180 days to get permits, but has the option of three, 30-day extensions at a cost of $3,000 per extension.
If the project is not permitted within a year from the signing date, the city can pull out of the contract.
Mitchell said the first $25,000 deposit has been received, but inspections revealed some "minor issues" with the title for the land. The city must also provide a more detailed survey, he said, so the second $25,000 deposit has not been collected.
Once the title is cleared and survey completed, Mitchell said he will ask the City Council – either in December or early January – for a 60- to 90-day adjustment to the remaining schedule.
"We're in the process of defining those areas (of the contract) that need to be fine-tuned," he said. "The fine-tuning is going to restart the clock. The restarting of the clock will be the trigger upon which that second $25,000 deposit would be made."
If the clock is reset, Federated would have another 180 days to get the project permitted. Without that adjustment, the company would have to pay $3,000 for each 30 day extension, starting around April.
Mitchell said he doesn't expect the adjustment will adversely affect the project.
"The goal is still to get the project under construction next year," he said. "I still feel like we're right on track from an overall timing standpoint."
City Planner Rick Knowland said the company may also need a zoning adjustment for the southern-most residential tower, which would be below the 165-foot height limit, but not meet a required setback.
Ron Spinella, chairman of the Bayside Community Development Committee, said he hopes the project will move forward.
Spinella said he and other residents are "cautiously optimistic," since other development proposals have come and gone for the properties.
"I think the idea of it – the plan – is for the most part welcome," he said. "That would be a pretty major project by Portland standards."
Spinella said he is not concerned the company may seek a variance from height requirements included in the Bayside vision plan, and he is satisfied with the developer's communication about the project.
"They have made it known they want to be good neighbors," he said. "We can call them any time."
Randy Billings can be reached at 781-3661 ext. 100 or rbillings@theforecaster.net. Follow him on Twitter: @randybillings
Portland may 'fine tune' contract to develop Bayside land
By Randy Billings
E-mail and share
Nov 29, 2011 12:00 am
PORTLAND — Property inspections for a mixed-used development in Bayside are taking longer than city officials had hoped.
Now, the city is considering extending the deadline outlined in the contract by 60 to 90 days. But it's unclear whether the city will enforce financial penalties for the delay.
The City Council on May 23 agreed to sell 3.25 acres of land between Elm and Franklin streets to Miami-based Federated Cos. The land, which had been on the market for $3.6 million, sold for $2.28 million.
At the time, the city put specific benchmarks in its contract to prevent the company from just sitting on the land and reselling it. The contract essentially gives the company a year to conduct due diligence and obtain the necessary permits.
Greg Mitchell, the city's economic development director and acting planning and development director, said the city is still in the early phases of discussion and feedback with the developer.*
Mitchell said the company is considering commercial, retail and office uses, as well as residential development and parking garages.
But, he said, "there has been no formal application filed with the city."
Federated is marketing the development as "Maritime Landing," but Suzanne Tamarago, the company's vice president of marketing, referred all questions about the project to city planners.
While no formal application has been submitted, preliminary drawings show seven buildings situated along Somerset Street.
The first floors of each building would be dedicated to more than 90,000 square feet of retail uses. More than 200 one-bedroom and nearly 350 two-bedroom residences would provide nearly 500,000 square feet of market-rate living space.
Parking for more than 300 vehicles would be above the first floor retail space and below the residences of four residential buildings. A garage with space for another 700-plus vehicles would be near a building offering about 96,000 square feet of office space.
The city gave Federated about a year to obtain approvals.*
The agreement required the company, which has offices in Miami and Boston, to make a down payment of $25,000. It had 60 days to inspect the property, before another $25,000 deposit was required.
The company was given 180 days to get permits, but has the option of three, 30-day extensions at a cost of $3,000 per extension.
If the project is not permitted within a year from the signing date, the city can pull out of the contract.
Mitchell said the first $25,000 deposit has been received, but inspections revealed some "minor issues" with the title for the land. The city must also provide a more detailed survey, he said, so the second $25,000 deposit has not been collected.
Once the title is cleared and survey completed, Mitchell said he will ask the City Council – either in December or early January – for a 60- to 90-day adjustment to the remaining schedule.
"We're in the process of defining those areas (of the contract) that need to be fine-tuned," he said. "The fine-tuning is going to restart the clock. The restarting of the clock will be the trigger upon which that second $25,000 deposit would be made."
If the clock is reset, Federated would have another 180 days to get the project permitted. Without that adjustment, the company would have to pay $3,000 for each 30 day extension, starting around April.
Mitchell said he doesn't expect the adjustment will adversely affect the project.
"The goal is still to get the project under construction next year," he said. "I still feel like we're right on track from an overall timing standpoint."
City Planner Rick Knowland said the company may also need a zoning adjustment for the southern-most residential tower, which would be below the 165-foot height limit, but not meet a required setback.
Ron Spinella, chairman of the Bayside Community Development Committee, said he hopes the project will move forward.
Spinella said he and other residents are "cautiously optimistic," since other development proposals have come and gone for the properties.
"I think the idea of it – the plan – is for the most part welcome," he said. "That would be a pretty major project by Portland standards."
Spinella said he is not concerned the company may seek a variance from height requirements included in the Bayside vision plan, and he is satisfied with the developer's communication about the project.
"They have made it known they want to be good neighbors," he said. "We can call them any time."
Randy Billings can be reached at 781-3661 ext. 100 or rbillings@theforecaster.net. Follow him on Twitter: @randybillings
P
Patrick
Guest
Highly unlikely they'll need a height exception from the Bayside zoning (not the plan, which isn't binding) because it allows for residential buildings of nearly 15 stories each (probably fewer floors in structures with commercial components.
grittys457
Active Member
- Joined
- May 25, 2006
- Messages
- 748
- Reaction score
- 0
NIIIIIIICE!
I think I saw a different banner or something over the lease signs in that area today or maybe my eyeballs were tricking me. Maybe it went from under contract to leased or something.
ON a side note, do you still go to Planet Fitness Patrick? I go a few times a week but only do cardio at night and observe the view. Hey, I'm a married guy, it's all I got. And Deering whooped some Portland ass on Thanksgiving.
I think I saw a different banner or something over the lease signs in that area today or maybe my eyeballs were tricking me. Maybe it went from under contract to leased or something.
ON a side note, do you still go to Planet Fitness Patrick? I go a few times a week but only do cardio at night and observe the view. Hey, I'm a married guy, it's all I got. And Deering whooped some Portland ass on Thanksgiving.
P
Patrick
Guest
Yeah I noticed the new sign, too, I think it says under contract. I noticed it on the Franklin Arterial side of things, and didn't realize it was for this property (didn't realize these extended that far east).
I do not go to Planet Fitness anymore, but started doing some boxing/mma stuff until broke my hand. I am really out of shape.
P
Patrick
Guest
I wouldn't pay too much attention to that article form the Sun, as it mis-states the facts. The preliminary drawings is really just one drawing, created by the city not in connection with this project. At present, it is just being used to market, and no actual rendering from the developer has been made. Also, the units aren't market rate, they are luxury, according to an email from the developer. Small details but nonetheless......
The part I am happiest about is that there won't be ground-floor parking, except for the parking garage. I'm curious about what the "required setback" is that this project may need an exemption for. Is that just in reference to how close a building is to the road? Also, aren't all luxury apartments market rate (they are based on an open market with no rent restrictions and the owner is able to attempt to sell the space at any price)?
P
Patrick
Guest
Hi corey. First thre is another art in the sun today. Second the setback is in reference to the public right of way which means sidewalks or trail. It could also mean the side setback from adjacent struxtures. Look to ch 14 of city code on land use. B7 zone. Also good point about market rate. Normally though i consider market rate to reflect the area median whereas luxury is above that.
grittys457
Active Member
- Joined
- May 25, 2006
- Messages
- 748
- Reaction score
- 0
In all the articles I see "next april". Does that mean this april or the one after?
It's a perfect scenario to build and the opposite of most situations. They are building into spots that already are anchored by a trader joe's, whole foods, regular grocery store, a bowling alley, a few banks, medical, att and verizon, new access to the blvd, super easy access to 295, etc. Man, that makes it's so much better to market new housing to when you are already surrounded by all that to begin with....
Federated Cos. chooses Bayside brokers
By Rebecca Goldfine
Mainebiz staff writer
Yesterday
The company planning to develop a sizable portion of the Bayside neighborhood has selected The Dartmouth Co. and WRE Commercial Brokers as its exclusive retail leasing agents.
The Federated Cos., a national real estate investment firm, bought 3.25 acres from the city in May for $2.3 million. Earlier in the year, it purchased the struggling Bayside Village, a nearby student housing complex, for $9.2 million. The company says it plans to maintain Bayside Village as a student housing facility and develop the former city lots into a 1 million-square-foot, mixed-used development.
The Federated Cos. says it selected The Dartmouth Co. and WRE Commercial Brokers to bring "a local as well as a national and regional perspective in the deal-making process," a press release states. The Dartmouth Co. is a commercial real estate firm with offices in Boston; Albany, N.Y.; Greenwich, Conn.; and Paramus, N.J. WRE Commercial Brokers is a commercial real estate firm based in Windham.
The company is still working with the city to finalize its development plans, according to Suzanne Tamargo, the company's spokeswoman. She says she does not believe the company has filed a formal building application yet. The city has given Federated Cos. a deadline to obtain its approvals and start construction, and if this timeline is not met, the city could pull out of the contract.
The 3.25-acre project, which the company is calling Maritime Landing, encompasses seven lots between Somerset and Elm streets in an area the city has targeted for aggressive development. The arrival of Whole Foods and Trader Joe's has helped this mission. The Federated Co. says it plans to construct 97,161 square feet of retail space, a 96,000-square-foot hotel, 554 luxury housing units and a 1,060-space parking garage, according to its press release. Construction is expected to begin next April.
The Federated Cos., based in Miami, was founded in 1999 and has developed and managed over 7,500 units of residential housing with an aggregate value of over $1.5 billion, according to a company report.
It's a perfect scenario to build and the opposite of most situations. They are building into spots that already are anchored by a trader joe's, whole foods, regular grocery store, a bowling alley, a few banks, medical, att and verizon, new access to the blvd, super easy access to 295, etc. Man, that makes it's so much better to market new housing to when you are already surrounded by all that to begin with....
Federated Cos. chooses Bayside brokers
By Rebecca Goldfine
Mainebiz staff writer
Yesterday
The company planning to develop a sizable portion of the Bayside neighborhood has selected The Dartmouth Co. and WRE Commercial Brokers as its exclusive retail leasing agents.
The Federated Cos., a national real estate investment firm, bought 3.25 acres from the city in May for $2.3 million. Earlier in the year, it purchased the struggling Bayside Village, a nearby student housing complex, for $9.2 million. The company says it plans to maintain Bayside Village as a student housing facility and develop the former city lots into a 1 million-square-foot, mixed-used development.
The Federated Cos. says it selected The Dartmouth Co. and WRE Commercial Brokers to bring "a local as well as a national and regional perspective in the deal-making process," a press release states. The Dartmouth Co. is a commercial real estate firm with offices in Boston; Albany, N.Y.; Greenwich, Conn.; and Paramus, N.J. WRE Commercial Brokers is a commercial real estate firm based in Windham.
The company is still working with the city to finalize its development plans, according to Suzanne Tamargo, the company's spokeswoman. She says she does not believe the company has filed a formal building application yet. The city has given Federated Cos. a deadline to obtain its approvals and start construction, and if this timeline is not met, the city could pull out of the contract.
The 3.25-acre project, which the company is calling Maritime Landing, encompasses seven lots between Somerset and Elm streets in an area the city has targeted for aggressive development. The arrival of Whole Foods and Trader Joe's has helped this mission. The Federated Co. says it plans to construct 97,161 square feet of retail space, a 96,000-square-foot hotel, 554 luxury housing units and a 1,060-space parking garage, according to its press release. Construction is expected to begin next April.
The Federated Cos., based in Miami, was founded in 1999 and has developed and managed over 7,500 units of residential housing with an aggregate value of over $1.5 billion, according to a company report.
grittys457
Active Member
- Joined
- May 25, 2006
- Messages
- 748
- Reaction score
- 0
Nevermind, it's this April. Let's say everything goes right with Thompson's point and they start this spring....has a city this small ever had so much being built at one time? I would doubt it, in fact I'd guarantee it
Maritime Landing encompasses seven lots of land totaling 3.25 acres, is conveniently located on Somerset and Elm Streets, providing easy access to downtown Portland, the historic Old Port, and I-295; and is less than one mile to the University of Southern Maine campus. Plans for the project include approximately 97,161 square feet of retail; a 96,000 square foot full-service hotel; 554 luxury housing units, and a 1,060 space public parking structure. The development is shadow-anchored by Whole Foods and Trader Joe’s, has excellent street visibility, high traffic counts, ample street parking, and offers highway signage opportunities. Construction of the project’s first phase is scheduled to commence in April 2012.
“We continue to be excited about Maritime Landing, and are confident that the combined area and retail experience of the team of The Dartmouth Company and WRE Commercial Brokers make them the best selection for this project,” said Nick Wexler, Chief Operating Officer of The Federated Companies.
“We are thrilled to work with The Federated Companies on such an exciting project,” said The Dartmouth Companies’ Peter Considine. “Given the ideal location and size of the space available, we believe that Maritime Landing will be one of Portland’s most desirable retail locations.”
Maritime Landing encompasses seven lots of land totaling 3.25 acres, is conveniently located on Somerset and Elm Streets, providing easy access to downtown Portland, the historic Old Port, and I-295; and is less than one mile to the University of Southern Maine campus. Plans for the project include approximately 97,161 square feet of retail; a 96,000 square foot full-service hotel; 554 luxury housing units, and a 1,060 space public parking structure. The development is shadow-anchored by Whole Foods and Trader Joe’s, has excellent street visibility, high traffic counts, ample street parking, and offers highway signage opportunities. Construction of the project’s first phase is scheduled to commence in April 2012.
“We continue to be excited about Maritime Landing, and are confident that the combined area and retail experience of the team of The Dartmouth Company and WRE Commercial Brokers make them the best selection for this project,” said Nick Wexler, Chief Operating Officer of The Federated Companies.
“We are thrilled to work with The Federated Companies on such an exciting project,” said The Dartmouth Companies’ Peter Considine. “Given the ideal location and size of the space available, we believe that Maritime Landing will be one of Portland’s most desirable retail locations.”
grittys457
Active Member
- Joined
- May 25, 2006
- Messages
- 748
- Reaction score
- 0
Not to add another post but was just thinking. If both these projects are completed along with cccc renovations, would we jump out of the Manchester /Burlington tier of new England cities and enter the just below level of a Providence and Hartford type?
P
Patrick
Guest
was thinking something similar with respect to ML.* With the culinary school/convention center, new renovations to the CCCC, Maine Med's planned new tower, and now 1 million sf of development, likely one of the biggest on the east coast at the moment, POrtland is doing alright.* Especially for a recession.* It is amazing that prior to the recession Portland was said to have been in the biggest construction boom in a century, and now after a little downtime it appears it may be going that way again--imagine how much activity there would be if the financial markets weren't as tight as they are right now (i.e., if we weren't in this recession).* While cities like Flagstaff, Arizona have seen development proposals slow to a trickle, Portland (1 million square foot ML), Worcester (2.1 million square foot City Center, i.e., twice the size of the Maine Mall almost), Somerville, the densest city in NE*(1.9 million square foot assembly row)*are all booming.* Urbanism is where its at.* I have my doubts about the potential of these projects to "transform" a city, but in Portland's case it certainly would transform the neighborhood.* At least here nothing is being torn down to create the project.* One City Center and its surroundings look great and employ people and feed people to businesses, but no one walks down Federal Street between them....cities are built incrementally, which adds to their intricacies and*visual stimulation from aesthetic variation.*and I just hope this project doesn't create a sterile environment.* With all the residences proposed, more services for retail and dining and other urban amenities will likely crop up, at which time Bayside will truly be an extension of downtown.* It has started already, with the bowling alley etc., but more is needed.* City's and their neighborhoods are, unfortunately, never the product of just one project (I wish it were otherwise, how easy that would be!).
I'll assume you are typing on your phone Patrick!
I agree, although I don't consider it to be unfortunate. It would be easier though, you are right. We can all point to examples where very small incremental development has lead to amazing neighborhoods and urban centers. A local area that comes to mind for me is Exchange Street. If this area was built today, I imagine we would have one huge building on one side of the street and a parking garage on the other side. I look forward to seeing Bayside develop in a more "traditional" and holistic manner, instead of being dependent on one or two standout developments.
Anyhow, we do have a thread about this Bayside development project right? Someone should dig that up.
I agree, although I don't consider it to be unfortunate. It would be easier though, you are right. We can all point to examples where very small incremental development has lead to amazing neighborhoods and urban centers. A local area that comes to mind for me is Exchange Street. If this area was built today, I imagine we would have one huge building on one side of the street and a parking garage on the other side. I look forward to seeing Bayside develop in a more "traditional" and holistic manner, instead of being dependent on one or two standout developments.
Anyhow, we do have a thread about this Bayside development project right? Someone should dig that up.
P
Patrick
Guest
I kind of meant it was unfortunate in the same way you meant it would be easier--i.e., it is unfortunate that it is not easier to build great places. The thing that really intrigues me about form based zoning is that it creates "places" instead of buildings or individual sites. Bayside has some form based elements in the B7 already, but it could use more. FBCs ensure even new development looks like Exchange St. (well, if that's what the community wants, anyway). also, Exchange Street was urban renewal on a grand scale, and all was built right along the same time, because of the conflagration that destroyed the city around that time. Funny how things don't work that way anymore. I've always been curious why. I think it's because of the percent of lot coverage, setbacks, etc. If you are a developer and need a large floorplate for modern office use you need to aggregate lots and parcels to build on. Once you do, however, setbacks and lot coverage etc. have, for the suburban areas anyway, meant that therre are huge suburban areas in between buildings.
P
Patrick
Guest
It;s an interesting question. I think Portland will always be in a similar category as Burlington, on livability bases, and always be ahead of Manchester, and hartford, on the same basis. But with population, Portland is behind Manch, PVD, Hartford, etc. Central city business Portland is ahead of Manch already...I think this would put us in a unique category. Not sure what to compare it to. If all the unbuilt projects had been built, Portland would be in a Hartford or Prov type skyline category, for sure.
P
Patrick
Guest
What I like about this is that it gives people who actually call Portland and Maine home to come downtown. I remember when this used to be a dance club in 2005.