Images / Google Maps
Portland's highest-selling and lowest-selling single-family houses in April 2021, as seen in 2019.
May 25, 2021
Biz Bites: Notable developments, Portland residential market, more
Courtesy / Bowman Constructors
The renovation of 1 Merchant Plaza, in Bangor, was named one of MEREDA's six notable properties for 2020.
By Maureen Milliken
The Maine Real Estate & Development Association unveiled its six notable developments from 2020 at last week's 2021 Virtual Spring Conference. The projects "not only embody MEREDA’s belief in responsible real estate development, but also exemplify best practices in the industry, contributing to Maine’s economic growth by significant investment of resources and job creation statewide," the association said.
Critieria are that the project be noteworthy and significant, completed (building occupancy permit issued) in 2020, environmental sustainability, economic impact, energy efficiency, social impact, uniqueness, difficulty of development and job creation. They were:
- Rock Row Phase 1 Retail Center, in Westbrook, by Waterstone Properties Group;
- 82 Hanover St., in Portland, by Port Property Management;
- Hospice of Southern Maine, in Scarborough, by Zachau Construction / SMRT,
- Solterra, 58 Boyd St., in Portland, by Portland Housing Authority, with Wright-Ryan as construction manager and designed by CWS Architects;
- One Merchants Plaza, Bangor, by Sky Villa Properties;
- Puritan Medical COVID-19 Building Expansion, in Pittsfield, by Puritan Medical Products and Cianbro as construction manager.
The success of the 1 Merchants Plaza renovation has a lot to do with having the right team in place, said David St. Germain, of Hampden-based Sky Villa. "From the city of Bangor to our team of Haley Ward Inc. (formerly CES), Bowman Constructors, Bowerbird Design Collaborative working together throughout the construction and permitting process allowed for a seamless project and a fully occupied building in downtown Bangor," he said.
The 1972 seven-story, 62,000-square-foot building was the first all-concrete one of its kind in the area. In recent years it's housed Bangor Daily News, UBS and Wabanaki Public Health. Denis St. Peter, of Haley Ward, said when the engineering company needed new space, he initially wasn't interested in the building. After meeting with St. Germain, and finding out what the developer had planned, he changed his mind. The company moved in to 18,000 square feet on the top two floors last year. Among other upgrades, renovations included gas-fired fooftop units for heating and cooling, an HVAC overhaul and new window films and shades to insulate the interior from temperature changes.
Kevin Bowman, president of Bowman Constructors said there were significant logistical challenges in working around occupied space, as well as getting materials up to the top three floors where the bulk of the work was taking place. "It took some creative thinking to get our supplies seven stories up in a building with small elevators and tight stairwells," he said.
PANDEMIC EFFECT BEGINNING TO SHOW: Month-over-month real estate numbers can be tricky, especially when compared to those in a pandemic year, says Tom Landry, of Benchmark Real Estate. “A few sales can skew the overall numbers of course. All real estate is local, hyper local.”
Numbers comparing this April to last April, when the first effects of the pandemic began to show, have a unique context. The pandemic flight buying frenzy hadn't started as everyone waited to see what would happen. The monthly stats Benchmark releases for Portland residential real estate show that sharply, particularly for total volume for all single-family, multifamily and land transactions: $72,455,033 for April 2021 compared to $29,296,800 in 2020.
"April 2020 numbers start to show the impacts of the pandemic with a large drop in prices, sales and listings, making it difficult to continue comparing year over year going forward," Landry said in his monthly blog post. With Portland setting price records — $452,000 was the median for a single-family home last month, compared to $276,000 statewide — "I don't see the market falling back to pre-pandemic levels."
And prices can be hard to nail down. “Value is based on location, condition, property type and proximity to amenities," Landry said. Even brokers, with their extensive experience, can have trouble nailing it. “There are so few comparable properties to base price on. It’s all about what someone is willing to pay right now.”
PORTLAND HIGHEST AND LOWEST: The highest and lowest-priced houses that sold in Portland in April were both in the Woodford Corners neighborhood, at the far reaches on opposite ends. The sales are according to Maine Listing Service stats and compiled by the Benchmark team.
The highest single-family home sale in the city of Portland in April was 41 Belmont St., at $985,000. The house, built in 1904, is an eight-room, four-bedroom, two-and-a-half bath 3,554-square-foot house. It's a block from Baxter Boulevard and the Back Cove. The lowest-priced was 489 Woodford St., at $159,000, a 1,608-square-foot four-bedroom, one-and-a-half bath house at the west edge of Woodford's Corners, near the Deering neighborhood.
BUILD MAINE CONFERENCE: The eighth annual Build Maine conference will be held virtually, in two-hour bites, on the first three Wednesdays of June. Each session will feature a speaker, Q&A and projects around the state that illustrate that day's topic. The conference is hosted by the New England Chapter of the Congress for the New Urbanism, Maine, with the Maine Municipal Association and MEREDA.
On June 9, Dan Parolek, principal of Opticos Design, in Berkeley, Calif, will discuss increasing housing inventory by overcoming challenges that have prevented development in the hearts of communities. Deborah and James Fallows will be the June 16 speakers, talking about their travels around the country seeking communities using renewed innovation, compromise, optimism and practical solutions to solve problems. The found it, too. Including in Eastport. On June 23, Wes Craiglow, of Urban Land Institute, will discuss how communities can raise revenue and keep taxes lower through careful land use planning and investment.
TWO NEW SPACES: Gallant Therapy Services has had a busy spring. Last week, the company cut the ribbon at 20 East Ave., in Lewiston, for its larger pediatric occupational therapy and feeding therapy "fun, play-based clinic." At the location, Gallant therapists help children with developmental disabilities and delays, behavior challenges, anxiety, feeding difficulties, Autism and more. The new digs have allowed GTS to hire more therapists and take on more clients, the company said in a news release.
Gallant also recently opened the Studio, at 345 Water St. in Augusta, where, guided by staff, artists of all abilities can develop and showcase their art. The studio is in a historic downtown building recently renovated by Matt Pouliot, of Pouliot Real Estate, who also has an office in the building.
PLANTING TIME IN BATH: Bath Housing, with a helping hand on the trowel from Sagadahoc Chapter of Maine Organic Farmers and Gardeners Association, will hold the 23rd annual planting day Saturday. MOFGA volunteers work with Bath Housing residents to plant vegetables in 1,000 square feet of raised beds at the housing authority's Anchorage, Moorings and Seacliff properties.
Residents request specific crops, or bring their own seedlings, and the MOFGA volunteers help them plant. With last year's event greatly curtailed, hopes are that this one will be more like the previous two decades. “Personal interaction has been an important part of this project,” said MOFGA volunteer Judy Schuppien. “I look forward to returning to it.”
Most Recent
Most Recent
0 Comments