News: Northern New England
Posted: November 30, 2011
Maine Course Hospitality Group breaks ground for Hampton Inn: Opechee Construction building 80-unit hotel
Peter Anastos, a principal in Maine Course Hospitality Group, (MCHG) and a group of investors, have begun construction on a 80-unit Hampton Inn. The new hotel will be located at 388 Western Ave., next to Margarita's Restaurant. Groundbreaking ceremonies were held at the site and a summer 2012 opening is expected.
Sean Riley, COO at MCHG, believes "The new prototype Hampton will be an exciting addition to the Augusta. We have had great success with our Fairfield by Marriott at the Civic Center exit, and wanted to compliment it with a Hilton Hotel."
The Augusta Hampton Inn will feature an indoor pool and fitness room, free hot breakfast, business center and free HSIA. Having Margarita's Mexican Grill and Enterprise Car rental on property will be great amenities for guests.
Opechee Construction is the design-builder and financing was provided by Bangor Savings Bank.
Shown (from left) are: Tim Daignault, Opechee Construction; Laurie Heyer, Bangor Savings Bank; Amy Chubbuck, Bangor Savings Bank; Jack Hennessey, VP Bangor Savings Bank; Sean Riley, MCHG; Bobby Reynolds, Senator Collins’ Special Assistant; Peter Thompson, president /CEO Kennebec Valley Chamber of Commerce; and William Stokes, mayor of Augusta.
MORE FROM Northern New England
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary