News: Northern New England

JHR Dev. breaks ground on 5-acre Main St. Station

On Oct. 14 Hilary Rockett Jr. of JHR Development of Maine, broke ground on a vacant, 5-acre parcel on Maine St. The site will become Maine St. Station, a mixed-use development that will include retail and office space, residential condominiums, an inn, and a train station. Governor John Baldacci, state and local officials, and business owners, attended the event. "We are getting back to basics in our economy," Governor Baldacci said. "We're recognizing those things that are of value and strategically investing in them...This project works." With the Maine Eastern currently running seasonal train service though Brunswick, and Amtrak slated to arrive in 2010. Rockett said, "Maine St. Station encompasses different modes of transportation, with the train being the focal point." Patricia Quinn, executive director of the Northern New England Passenger Rail Authority, said that the passenger rail authority is "very excited and encouraged by the plans that are provided by JHR and the town of Brunswick." Town manager Don Gerrish said, "Maine St. Station is an important cog in what we are doing here in Brunswick to further economic development and continue the vibrancy that has always been a part of our downtown." The project team includes: Ouellet Associates, Inc. (general contractor); Lincoln/Haney Engineering Associates, Inc. (structural engineering); and Gawron Turgeon Architects. * Completion of Phase I construction is planned for summer 2009.
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Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units. 

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