Rendering by Context Architecture
Scarborough, ME Landry/French Construction, one of Maine’s leading commercial building construction contractors, has been selected as construction manager for the new $21.5 million public safety building.
The voters approved a $19.5 million bond issue in November that will replace the crowded public safety building. The town plans to sell the current building and to use the proceeds from the sale, as well as reserve funds, to cover the additional $2 million needed for construction. The new 53,000 s/f combined police and fire station building, designed by Context Architecture of Boston, will accommodate current public safety needs and anticipate community and staffing growth through 2041. The new facility will be located on town-owned land located adjacent to the Town Hall and bordered by Rte. 1 and Sawyer Rd.
“As a Scarborough-based company deeply rooted in the community, we’re extremely proud and honored to be selected as construction manager for such an important project,” said CEO Kevin French. “Many of our team members are residents of Scarborough which makes it that much more special for the company.”
During the next several months, Landry/French will work closely with the town, Context Architecture, and owner’s representative Tom Perkins of Dirigo Architectural to provide pre-construction services. Construction is anticipated to begin in July with estimated completion in December 2019.
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.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.