Scarborough, ME Project partners and Scarborough town officials broke ground and celebrated progress to date on The Beacon at Gateway. Upon completion this fall, The Beacon will become Greater Portland’s newest, most enhanced option for enjoying the state’s living experience.
“The Beacon provides amenities, location, and convenience never before offered in one living package in Greater Portland,” said Ben Devine, principal at Devine Capital, a primary project partner.
The community will ultimately consist of 288 studio, 1, 2, and 3-bedroom luxury apartments. The apartment homes are pet-friendly and will feature modern, premium finishes.
“Living at The Beacon is designed to be carefree. The professionally managed community has onsite staff to address all of your in-home maintenance needs and the grounds are meticulously landscaped in all seasons to include snow removal,” said Dena Stockman, property manager at The Beacon at Gateway.
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.