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MEREDA: Despite early pandemic drop, Maine's real estate activity grew in 2020


Sharp growth in residential sales and relative stability in the construction field during 2020 helped Maine s real estate industry weather a difficult year, experts said at a Maine Real Estate & Development Association conference on Thursday.
Those factors all contributed to the rise in the “MEREDA Index,” a measure of real estate activity designed to track changes in Maine’s real estate markets.
The index is a composite of seasonally adjusted measures reflecting new development and transactions involving existing properties and it covers both the commercial and residential markets statewide. 
MEREDA unveiled the 2021 index Thursday morning at its spring conference.
The index is based on an economic analysis by Charles Colgan, professor emeritus of public policy and planning at the University of Southern Maine’s Muskie School of Public Service. ....

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Transformative Commercial Street project enters final phase


Transformative Commercial Street project enters final phase
Developers of the former Rufus Deering Lumber site are seeking approval for an additional seven-story building. Closed in 2016, the former lumber yard now already hosts condos and a hotel.
Brianna Soukup/Staff Photographer
After transforming the former site of a landmark Portland lumber business into condos and a hotel, the developers of the Commercial Street property in Portland are asking the city’s approval for an additional seven-story commercial and residential building.
The onetime home of Rufus Deering Lumber Co. is entering its next phase of development, as developer Reger Dasco Properties submits plans for a 65-foot-high building with 64 residential units and space for commercial use. The proposed building would stand at 387 Commercial St., near the intersection with High Street across from Becky’s Diner, and would cover 35,100 square feet. ....

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