Portland, ME - New Construction Continued

Portcity75 said:
They've already started construction on the building directly next to duckfat. Think it's gonna be new office for Cport credit union. Sure the condos being built next to it will enjoy that blocking the entire ocean side view
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Yep, it will be cPort on the first two floors and the top two floors will be condos. Views are never guaranteed to last!

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Reznor said:
I stayed in Portland in late April and hotel rates at the Holiday Inn were $345. When I asked the concierge, he said that was standard for the spring in Portland. My guess is there is substantial demand.
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Did you look in advance or try to walk up to the desk? I feel like that's high even for mid-summer, let alone April. It's early to book, but Priceline has rooms for the last weekend in April '18 for between $92 (La Quinta) and $260 (Press Hotel). The Westin is $128 and the Holiday Inn is $185.

Portland's probably a tough market because it's extremely seasonal. I'm staying at the Westin with my girlfriend in December and we paid $93/night via priceline. It was advertised for $119. That's very low for a Westin property anywhere at any time. Obviously it's much higher in the summer (stayed at the Residence for $220 Labor Day weekend this year), but still not as high as it used to be. I was at school at USM 10 years ago (wow), and rates were higher year-round than they are now. You couldn't touch under $100 at any point during the year even with a priceline deal.

My guess is that there's definitely a market- especially in the summer season- but the recent influx has definitely impacted overall rates and while summer is still packed, there are a lot of vacant rooms in the off-season. But as long as summer price increases offset losses in the off-season, they'll still build more rooms.
 
Definitely feels like the Portland area has hit hotel saturation. Not only are there 4 new hotels on the peninsula either under construction or in the pipeline, but also 2 new hotels near the Maine Mall, and another in planning for Thompsons Point.

The next time the economy takes a downturn, there will be a lot of empty hotel rooms in Portland.
 
Portcity75 said:
In what I think could mean something good, I saw a sold sign on that old press
herald building across from press hotel and next to Merrill. That's a valuable
spot next to that parking lot and where this mock up that's been around
for a couple years is. Even if not this, someone is gonna do something big
there

http://archetype-architects.com/projects/congress-and-pearl-street/
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That SOLD sign has been there for a while. I would love to be cautiously optimistic, but Portland's next 10+ story building always seems to be just over the horizon :p
 
Weird, as often as I've driven by I've never noticed it. Stood out
tonight for some reason. Heard the 16 story building behind Nosh isn't going
To be proposed that tall now
 
Dr. StrangeHat said:
Yeah, Press Herald has a story on that too (looks like the same rendering). The developer focuses on "upscale extended-stay hotels and premium-branded, select-service hotels" according to the article.
My guess would be a Homewood Suites (Hilton) or TownePlace Suites (Marriott).
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rendering from the article:
1280897_891099-Rendering.jpg


It has a nice design, although I'm curious what the frontage on Middle Street would be like. It seems like Middle St. would be a better place for 1st floor retail, given the proximity to a cluster of popular restaurants.

An extended stay hotel might actually be good for downtown. I don't know of any other extended stay hotels on the peninsula, only a few out by the jetport and Maine mall.
 
Looks like the old Press Herald production building actually did recently sell:

http://www.pressherald.com/2017/11/02/former-press-herald-building-changes-hands/

However:

“We are going to leave it the way it is,” said Gordon Reger, CEO of Reger Holdings, a real estate development company in West Seneca, New York. “We are going to leave it the way it is and park cars there. Everyone needs a place to park, that’s our plan.”
 
Dr. StrangeHat said:
Looks like the old Press Herald production building actually did recently sell:

http://www.pressherald.com/2017/11/02/former-press-herald-building-changes-hands/

However:

“We are going to leave it the way it is,” said Gordon Reger, CEO of Reger Holdings, a real estate development company in West Seneca, New York. “We are going to leave it the way it is and park cars there. Everyone needs a place to park, that’s our plan.”
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That is extremely surprising, and disappointing. The blocks between City Hall and Franklin St. are probably the single best redevelopment site in the city. That would be an ideal site for a mixed use apartment building similar to 667 Congress.

I've heard rumors and stories that the owners of the adjacent "Top of the Old Port" parking lot are impossible to work and negotiate with, and that they refuse to sell the lot to any developer.
 
Interesting to hear about another hotel proposal. From an armchair urban designer perspective I kind of wish the one on Fore and India had a little public space on the corner (benches, some landscaping, a fountain, etc). Excited about the CPort building as well - nice to see new infill that doesn't have a huge footprint.

A couple photos of the India Street Neighborhood skyline from the water:

6biDVEo.jpg


REaKDFK.jpg
 
Cosakita18 said:
That is extremely surprising, and disappointing. The blocks between City Hall and Franklin St. are probably the single best redevelopment site in the city. That would be an ideal site for a mixed use apartment building similar to 667 Congress.

I've heard rumors and stories that the owners of the adjacent "Top of the Old Port" parking lot are impossible to work and negotiate with, and that they refuse to sell the lot to any developer.
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I doubt very much that's why they bought it. More likely, they are strategically avoiding any speculation as to what might be proposed there until it makes sense to move forward in earnest. This is the same development group that built the Bay House, Newbury Street Lofts, and the project now being permitted for the Rufus Deering Lumber yard on Commercial Street. They don't operate parking lots. They probably bought it with the assumption that the cash flow from surface parking makes sense even without development on the site, in case the market cools, but knowing that when things rebound it will be one of the most valuable sites in the City as someone else mentioned. I think the fact that Reger bought it should be seen as extremely promising for its future despite their public remarks because they are probably the City's most active developer.
 
The East End is becoming quite the spot with hotel, condo and office space (a mini Boston Seaport district). I've heard the Portland Company Complex is holding off now which, I think, is because of the uncertainty of the Portland Pipeline future. If the pipeline flow is reversed and a lot more tanker traffic is the result -- not to mention a nasty vent pipe tower with a flame at the top -- the 600 plus condos proposed will not be of premium value with a view of this. It the tank farm across the bay could be removed and turned into a park, voila, money.
 
I've heard the Portland Company Complex is holding off now which, I think, is because of the uncertainty of the Portland Pipeline future. If the pipeline flow is reversed and a lot more tanker traffic is the result -- not to mention a nasty vent pipe tower with a flame at the top -- the 600 plus condos proposed will not be of premium value with a view of this. It the tank farm across the bay could be removed and turned into a park, voila, money.[/QUOTE]


Really?? It's not like the condo units are directly next to the oil terminal, and the condos would still have a mostly unobstructed view out to Peaks and Casco Bay. Seems like a niche thing to delay a project of this size.
 
In the legal correspondence for the city regarding the lawsuit, the law firm did due diligence and discovered with an oil pipeline reversal, two 70 foot tall venting towers would have to be built (read the case filing on the SoPo city website). They would have flames at the top, as you see at oil refineries. Millions of gallons of chemically treated toxic tar sands oil will have traveled hundreds of miles down the pipeline and the fumes need to be burned off at the end (South Portland). Yes, scary. And the new Portland Company Complex condos would have a direct view of this (about 3,000 feet away), not to mention a lot more oil tanker traffic to pick up all that oil. Oil tankers in port still burn fuel and occasionally leak that fuel along with the crude oil hookups (research past PPH articles over the years). That's scary too. These condos are not for Mainers, they are for wealthier people from out of state. Why would they look at that scene (and smell it) with all the other options to choose from on the Maine coast? Isn't this sort of thing what they are trying to get away from?
 
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Portland's Question 1 and 2 have been defeated. Question 2 was closer than I expected, with the final count being 47% in favor and 53% opposed.
 
TC_zoid said:
In the legal correspondence for the city regarding the lawsuit, the law firm did due diligence and discovered with an oil pipeline reversal, two 70 foot tall venting towers would have to be built (read the case filing on the SoPo city website). They would have flames at the top, as you see at oil refineries. Millions of gallons of chemically treated toxic tar sands oil will have traveled hundreds of miles down the pipeline and the fumes need to be burned off at the end (South Portland). Yes, scary. And the new Portland Company Complex condos would have a direct view of this (about 3,000 feet away), not to mention a lot more oil tanker traffic to pick up all that oil. Oil tankers in port still burn fuel and occasionally leak that fuel along with the crude oil hookups (research past PPH articles over the years). That's scary too. These condos are not for Mainers, they are for wealthier people from out of state. Why would they look at that scene (and smell it) with all the other options to choose from on the Maine coast? Isn't this sort of thing what they are trying to get away from?
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Honestly, I'm not one to applaud de-industrialization; our society needs lots of that not-pretty infrastructure to function, and with most of the state wrapped up in the idea of being on the next cover of Downeast, Portland Harbor is where it's going to happen. Historically, Portland (including SoPo) was one of the busiest oil-shipping ports in the country, and I'm fine with that continuing, including the pipeline reversal. Portland isn't Camden or Boothbay and shouldn't be trying to be.
 
markhb said:
Honestly, I'm not one to applaud de-industrialization; our society needs lots of that not-pretty infrastructure to function, and with most of the state wrapped up in the idea of being on the next cover of Downeast, Portland Harbor is where it's going to happen. Historically, Portland (including SoPo) was one of the busiest oil-shipping ports in the country, and I'm fine with that continuing, including the pipeline reversal. Portland isn't Camden or Boothbay and shouldn't be trying to be.
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In principal, I agree with that. Just that this one is a particularly nasty mofu when you do the research on it. (Thumbs up for the cold storage facility.)
 
Cosakita18 said:
Portland's Question 1 and 2 have been defeated. Question 2 was closer than I expected, with the final count being 47% in favor and 53% opposed.
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I love it when common sense rules and NIMBY's get a good b@%#! slappin'. From what I've read the cold storage facility will be a good economic punch for the area.
 
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