March 14, 2018

Portland to sell last city-owned Bayside property

The last of six Bayside properties owned by the city of Portland is poised to be sold to local developer Tom Watson.

The Forecaster reported that Portland City Council's Economic Development Committee recommended that the full council approve the sale of 44 Hanover St. at just less than $1.3 million. The property is now used for maintenance of city vehicles.

According to a Feb. 27 memo by Economic Development Director Greg Mitchell, the building will be converted into at least 16 units of 3,500 square feet each that would be leased as "affordable/accessible to the creative economy at under $1,000/month." Watson has also agreed to lease the property back to the city through Sept. 30, 2019, when public works fleet services would move to the new public works facility at 250 Canco Road.

In April 2017, the city listed for sale with CBRE | The Boulos Co. six parcels totaling about 4 acres that are bound by Portland, Parris, Kennebec and Alder streets. The land had been used for public works operations.


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