More condos planned for India Street neighborhood
The aggressive real estate development happening in Portland’s India Street neighborhood continues as a Boston-based developer has filed plans with the city to construct a four-story building that would house three retail stores on its ground floor and residential condominiums on the three upper stories.
The 45-foot-tall building would sit at the former Port City Glass location on 62 India St., which would be demolished. The family-owned business was sold in January with the family owners currently in the process of finding a new nearby location.
One of the principals of the development firm behind the construction, India Newbury LLC, is Joe Dasco, who is also a partner in Reger Dasco Properties.
Reger Dasco is the real estate development company behind two additional luxury condo projects in the same neighborhood — the 85 condo-unit Bay House at Hancock and Newbury street, and the still-under-construction, 39-condo 113 Newbury project.
“We’re here long term. We have some other opportunities were looking at,” Dasco told the Portland Press Herald about the recent rapid development happening in the neighborhood. “There’s little to no inventory on the market right now and demand is strong.”
The planning documents for the project show that the project would consist of seven one-bedroom, 17 two-bedroom and five three-bedroom condos, along with 27 parking spots.
Dasco told the Press Herald that while cost estimates and final pricing continue to change, a 650-square-foot condo could cost an estimated $300,000, while larger units could top $1 million.
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