News: Northern New England

North Branch Construction begins construction on 21 units in Lebanon

Construction is well underway on the site of the future Rivermere Community Housing. North Branch Construction of Concord began construction in July of two buildings that will provide a total of twenty-one affordable rental units along the Mascoma River. Sitework is complete for the season as insulation and drywall installation continues in Building 1, which will provide seven 2-bedroom townhouse units. Framing and roofing for Building 2 are expected to be complete in early February 2013. Building 2 includes fourteen 2-bedroom townhouse units and two ADA accessible 2-bedroom apartment units, as well as a community room with laundry facilities. Construction will continue straight through the winter with an anticipated completion in June 2013. Rivermere Community Housing is owned by Twin Pine Housing Trust and the project is being funded by the New Hampshire Housing Finance Authority (NHHFA), USDA-Rural Development, and the CDFA/CDBG - City of Lebanon. George Hickey Architect of Sanbornton, N.H. is providing architectural services for the project.
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Northern New England

November 2024 NH CIBOR president’s message: 10 tips for commercial real estate investors - by Ethan Ash

While many Realtors will tell you what you need to do in order to sell your residential property at the highest price (clean out the junk, update bathrooms and kitchens, paint, etc.) most people don’t get easy to follow guidance on what to do to help your commercial real estate sale. Other than that advice that I
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Columns and Thought Leadership
The Greater Portland industrial mid-year market update - by Nate Roop

The Greater Portland industrial mid-year market update - by Nate Roop

The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for
Residential is here to untie the office space doom loop - by Thomas House

Residential is here to untie the office space doom loop - by Thomas House

The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
Interest rates and inflation - by Matthew Bacon

Interest rates and inflation - by Matthew Bacon

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.

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.