News: Front Section

Cumberland Crossing by Oceanview begins construction of 50 two-bedroom cottages in Cumberland, ME

Cumberland, ME Cumberland Crossing by Oceanview is officially under construction after a groundbreaking ceremony attended by developers, town officials and project stakeholders. The retirement community is a sister location to OceanView at Falmouth and is based on that successful model.

Located at the center of town, the independent living community will feature 50 two-bedroom cottages with modern amenities, including four-season sunrooms, gas fireplaces, solar electricity and full-service generators. In addition, the community will include direct access by golf cart or walking path to Val Halla Golf Course, a community center with a pool, and proximity to nearby town parks and walking trails. Cumberland Crossing residents will also have access to OceanView at Falmouth’s Care Continuum.

The construction cost for this project will be between $50-60 million, with construction and material prices constantly in flux. The cost of new construction includes roads, infrastructure and house builds, which will also help to create more jobs and economic development in the area.

“We are thrilled to expand our successful retirement community model to Cumberland and offer homes in a prime location in close proximity to the ocean and Portland,” said John Wasileski, managing partner of OceanView at Cumberland, LLC.

“Cumberland Crossing will provide new generations of retirees the opportunity for maintenance-free retirement living with a strong sense of community and peace of mind for the future, while maintaining OceanView’s emphasis on sustainability, alternative energy sources, and “green and local” practices,” Wasileski concluded.

This is the first joint venture for Wasileski and his son, Chris Wasileski, who is the Director of Development at SeaCoast Management Company.

MORE FROM Front Section

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.

Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.