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A commercial real estate comeback for Portland?

A commercial real estate comeback for Portland?
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Developer's request would lay groundwork for Portland's tallest building

Tim Soley wants city planners to double the heights allowed for new building projects in the Old Port that create and preserve publicly accessible open space. ....

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Proposed 18-story tower could ease Portland's housing crunch, alter skyline

If it becomes Maine’s tallest building as expected, an 18-story apartment tower to be built in downtown Portland would claim a title that hasn’t changed hands in over half a century.
Or, depending on the measuring stick, the “tallest” distinction could remain with a structure in Lewiston that’s held it since 1890.
One thing is clear: Redfern Properties’ proposed 190-foot building at 200 Federal St., Portland, would be the first new high-rise to rise anywhere in Maine for over a decade.
Landry/French Construction, based in Scarborough, has agreed to serve as construction manager, the firm s CEO, Kevin French, and Redfern principal Jonathan Culley told Mainebiz. Landry/French is currently screening subcontractors and expects to have them signed on over the next 30 to 60 days. ....

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Historic Old Port block of buildings sells for $11.7M

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’s Jennifer Small, who represented Soley. “This particular asset made sense to Tim,” she said. “He essentially controls the entire block.” ....

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