Upscale Munjoy Hill condo project gains approval
The Portland Planning Board approved on Tuesday night final plans for an upscale 12-unit condominium project on Munjoy Hill.
The Portland Press Herald reported the four-story project at 118 Congress St. includes ground-floor retail space in addition to the 12 condominium units that will be marketed in the upper $500,000 range.
The $5 million-plus project, designed by Archetype Architects, includes two- and three-bedroom condos ranging in size from 1,380 to 2,021 square feet, the newspaper reported. It also includes an enclosed 18-space parking garage at Congress and St. Lawrence streets.
Munjoy Hill also is the locale for a 29 market-rate townhouse project on Walnut Street recently approved by the planning board. Jonathan Culley, owner of Redfern Properties and Redfern Munjoy LLC, told Mainebiz in December that project's focus on energy efficiency and progressive design is “where there seems to be energy” for development in the city and that scarce land for new projects will sharpen that focus in the coming years.
The Munjoy Hill projects underscore the strong rise in multi-family sales in southern Maine reported at the annual Maine Real Estate & Development Association forecasting conference on Jan. 23, which showed sales volume for multi-family units in Portland rising 8% from 2012 to 2013.
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