Page 25 - Boulos Co News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The city of Auburn has put seven city-owned properties up for sale, in the latest step of an aggressive new economic development strategy. The property — six lots and a historic church — are downtown, in the New Auburn area and a nearby corridor. Both are spots the city said are "highly desirable" to developers. The move comes after Auburn officials in November announced a new focus on economic development and restructured its city economic development department. In January, Mayor Jason Levesque also invited developers to build 2,000 market-rate homes in the city. Levesque and other o...

While race- and ethnicity-based economic inequality long predates the pandemic, disparities have widened over the past year, economist Jeff Fuhrer told a Mainebiz virtual forum on Thursday. Fuhrer, a former top official at the Federal Reserve Bank of Boston, is now executive vice president and chief strategy officer at MassDevelopment, that state's finance and development agency. In his opening keynote of the "Five on the Future" discussion, Fuhrer questioned whether the United States is the land of opportunity it purports to be, saying, "I'd like to believe that's true, but we're pret...

Recently, on Forest Avenue in Portland, a 12,658-square-foot former Rite Aid sold for $1.5 million. Three years ago, a $20 million deal that spanned California to Maine, involving four properties, worked its magic for several investors. Both commercial real estate deals, like many investment property transactions across Maine and the country, were made possible with a 1031, or “like-kind,” real estate exchange. The tax benefit, named after its IRS section code, allows an investor to put off capital gains tax from a sale by investing the money into a similar property. The tax deferment has...

Greg Day, TDB LLC, Westbrook Image Greg Day Development with a purpose: “Through COVID, I’m seeing a renewed emphasis on real estate investments that improve communities. Combining social impact with social infrastructure is a powerful combination that can garner widespread stakeholder support and create essential assets to communities or regions with longevity. The master-planned development in Westbrook is a great precedent with these attributes combining food production, job creation, city infrastructure and housing in an urban setting.” Bev Uhlenhake, Epstein Commercial Real Estate,...

For the developer of Portland’s Canal Plaza, the acquisition of a neighboring block of three buildings was natural fit. East Brown Cow Management Inc. bought the Boyd Block and Four Canal Plaza, at 178-188 Middle St. and 4 Canal St.,  from Middle Street Holdings LLC for $11.7 million. Dan Greenstein of the Boulos Co. and Jennifer Small and Joseph Malone of Malone Commercial Brokers brokered the deal, which closed Jan. 19. East Brown Cow owns neighboring One, Two and Three Canal Plaza and Fore Street Garage. The company’s president is Tim Soley. “He was the natural buyer,” said Malone...