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February 20, 2008

Portland mulls Bayside proposals

Four developers have stepped forward with proposals to redevelop more than three acres of former industrial land in Portland's Bayside neighborhood, an area that has long been a target of redevelopment by the city.

The proposals, which the city released yesterday, come from The Olympia Cos. in Portland, which recently won the right to redevelop the Maine State Pier; the Developers Collaborative, a Portland group led by Richard Berman; Yarmouth-based Waterman Housing LLC; and MaineHealth and United Way of Greater Portland, Lee Urban, the city's director of planning and development, told Mainebiz yesterday. The proposals range in scope from offers to buy and develop all 3.3 acres to proposals targeting portions of the city-owned land. All the proposals offer at least $1 million per acre, Urban said, and offer a combination of office, retail and residential development, with some including a parking garage, Urban said. "They all show a lot of thought, creativity and effort," he said.

The Portland Downtown Corp., which actually owns the land, will consider the proposals at a meeting tomorrow and make a recommendation to accept one or more, which will be reviewed by the City Council's Community Development Committee on Feb. 27, Urban said.

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