Wednesday, February 17, 2016

113 Newbury Street

113 Newbury Street is a "luxury downtown condominium" project on Newbury Street, "Nestled between Portland’s bustling Old Port and vibrant East End." The architect is Mark Mueller Architects and construction is by Landry French.
Image from Trulia -

113 Newbury Street - 2/14/2016

Wednesday, February 10, 2016

The Portland Balance

A comprehensive article titled "Portland balancing between staying true to its roots and development"was published on the Mainebiz website on Monday. The article features quotes from a variety of sources including Redfern Properties' co-owner Jonathan Culley , the Director of Portland's Planning and Urban Development Department Jeff Levine, and a principal of PDT Architects Alan Kuniholm. The article highlights the efforts underway by the city and developers to provide more housing. 

A few statistics from the article concerning the Portland market:
Class A vacancies at 4.52%, the lowest in seven years; retail, 3.6% vacancy rate compared to 12.6% nationally; multi-unit residential, 1,134 new apartments in the pipeline and 269 units under construction.

2016 Greater Portland Market Outlook

The 2016 Greater Portland Market Outlook by CBRE | The Boulos Company is now available online here. Highlights from Managing Director Drew Sigfridson's introduction include:
Overall vacancy rates in the office sector are once again down, and we expect construction of new product in the near future to accommodate expanding businesses in the market. 
Looking ahead to 2016, we will continue to see increased demand from food-related producers, breweries and distillers in the Greater Portland area. There continues to be a lack of quality class A office space in downtown Portland. This will lead to new construction projects in the near future for technology-related and financial service growth companies. 
The only question for 2016 is “where will the next major office building be built?”