MEREDA Blog

MEREDA’s Morning Menu – MEREDA Welcomes Dr. Habib Dagher, Executive Director, Advanced Structures and Composites Center, UMO

November 17, 2025

December 16, 2025 - 8:30 - 10:00 amBuffet Breakfast: 8:30-9:00 amProgram: 9:00-10:00 am Location: McGoldrick Career & Student Success Center35 Bedford Street, Portland, ME About the Event:Dr. Habib Dagher will provide ...

Read Article

Nominations Now Being Accepted for MEREDA’s 2025 Notable Project Awards

November 14, 2025

Each year, MEREDA identifies and recognizes the most noteworthy and significant Maine commercial development projects from the previous year, all of which embody MEREDA’s belief in responsible development. Nominations are ...

Read Article

Conference guests in ballroom as presenter speaks.

MEREDA Opens Registration for its Annual Forecast Conference

November 10, 2025

Registration is open for the Maine Real Estate & Development Association’s (MEREDA’s) Annual Forecast Conference and Member Showcase, which will take place on February 26, 2026. The popular annual event draws ...

Read Article

Aerial view of Notable Project Receipient Nightingale & State Street Campus Redevelopment

The Right Equation for Responsible Development: Spotlight on Nightingale & State Street Campus Redevelopment (Portland)

November 4, 2025

MEREDA Recognizes its 2024 Notable Project Award Recipients - Each year, the Maine Real Estate & Development Association (MEREDA) recognizes some of the state’s most “noteworthy and significant” real estate ...

MEREDA Recognizes its 2024 Notable Project Award Recipients - Each year, the Maine Real Estate & Development Association (MEREDA) recognizes some of the state’s most “noteworthy and significant” real estate projects, completed in the previous year. The exemplary projects from across the state, completed in 2024, not only embody MEREDA’s belief in responsible real estate development, but also exemplify best practices in the industry, contributing to Maine’s economic growth by significant investment of resources and job creation statewide. This year, MEREDA honored projects from throughout the state, with each receiving special recognition at MEREDA’s 2025 “Notable Night” social celebration in May. In a multi-part series exclusive to the Maine Real Estate Insider, we’ll provide an up-close look at the most notable commercial development projects of the past year that are helping to fuel Maine’s economy in terms of investment and job creation. MEREDA is proud to recognize responsible development based upon criteria including environmental sustainability, economic impact, energy efficiency, difficulty of the development, uniqueness, social impact and job creation. Mainebiz also featured each of our Notable Project Recipients in their inaugural “Groundbreaking Maine” publication. Be sure to check it out! https://www.mainebiz.biz/special-edition/groundbreaking-maine-2025 MEREDA’s 2024 Top 9 recipients include: Firehouse Village, Firehouse Ventures & Avesta Housing (Scarborough) 99 Western Apartments, Mastway Development (Augusta) The Malone Family Tower, MaineHealth and Perkins&Will (Portland) Seaport Community Health Center, Penobscot Community Health Care (Belfast) Katahdin Woods and Waters National Monument: Tekαkαpimək Contact Station, Elliotsville Foundation (T3 R7 WELS) Vertical Harvest, Vertical Harvest Maine (Westbrook) Stacy M. Symbol Apartments, Westbrook Development Corporation (Westbrook) Nightingale & State Street Campus Redevelopment, NewHeight Group & Redfern Properties (Portland) Front Street Redevelopment, Portland Housing Authority (Portland) Please join us this week in celebrating Nightingale & State Street Campus Redevelopment. MEREDA: Describe the building and project. NewHeight Group & Redfern Properties: Redevelopment of the Mercy Hospital State Street campus into a high-density, mixed-income residential campus featuring 260 new apartments and 9 new homes, a self-storage facility, and several small retail spaces is an excellent example of smart growth. The project involved adaptive reuse of the historic hospital building, creation of outdoor public space in a shared woonerf, improvements to existing utility infrastructure, implementation of a Traffic Demand Management Plan to encourage and support alternative forms of transportation, and provision of a range of housing choice (market rate, affordable, and workforce), both for rent and for sale. In addition, the redevelopment transformed surface parking into housing, recreated the street wall along Winter Street, and stitched back together the neighborhood that had been divided when the hospital was built. MEREDA: What was the impetus for this project? NewHeight Group & Redfern Properties: 2Northern Light Mercy Hospital issued a Request for Proposals in July of 2018. NewHeight Group was invited to respond along with approximately 50 other firms. NHG submitted a proposal in November 2018 with development team members Community Housing of Maine and the Portland Housing Authority. In December of 2018, NHG was one of three teams invited to interview with the selection committee. In January 2019, NewHeight Group’s successful best and final proposal was selected. MEREDA: That sounds like quite a process. How long were you in the planning stages before construction started? NewHeight Group & Redfern Properties: In October of 2019 NewHeight Group executed the Purchase & Sale agreement with Northern Light Health. In December of that year, NewHeight Group entered into an agreement with Redfern Properties to complete the project as 50/50 partners. The acquisition was finalized in February of 2020 (just three weeks before Covid hit!), and the development team launched into rezoning the property, planning, permitting, extension of the period of significance for the existing National Register district, local historic approvals, Part 1 approval from the National Park Service, and hiring Zachau Construction as Construction Manager at-Risk. The project was granted full planning board approval in August of 2021. MEREDA: Tell us about the most challenging aspect of getting this project completed. NewHeight Group & Redfern Properties: This project had myriad challenges. Perhaps the largest was that Mercy Hospital, the primary building, was an operating hospital right up until construction start, so the development team was unable to do any exploratory demolition prior to construction start. The building was known to contain asbestos containing material (mostly pipe wrap), but exactly how much was unknown. The building’s low ceilings also presented significant design and coordination challenges. The project also included undergrounding of existing utilities to make room for three new buildings along Winter Street—an extraordinarily complicated undertaking in this location. MEREDA: Something unexpected you learned along the way was…. NewHeight Group & Redfern Properties: The development team was surprised to discover that what appeared to be original historic wooden columns buried in the walls were in fact made of concrete wrapped in a wooden veneer. While it is less surprising that many people feel a connection to the old hospital building – births, deaths, a long tenure as employee – the overwhelming number of people with a connection was a surprise. MEREDA: Now that it’s complete, what feature of the project do you think makes it the most notable? NewHeight Group & Redfern Properties: Perhaps the most notable element of this project is the woonerf, a Dutch term meaning “Street for Living” which describes a space shared by pedestrians, cyclists, and cars. The woonerf is interior to the block between the historic hospital building now known as the Nightingale, and the two new construction affordable apartment buildings developed by Community Housing of Maine in partnership with the Portland Housing Authority. The woonerf functions as a shared public outdoor space and binds the buildings into a campus. The flush condition of the woonerf, along with landscaping and seating, invites pedestrian use while also allowing for slow vehicle movement and parking.

Read Article

Is the Maine real estate market as hot as it seems?

April 3, 2018

By Dava Davin, Portside Real Estate Group Is the Maine real estate market as hot as it seems? Yes, yes it is!. With low median days on market, high list ...

By Dava Davin, Portside Real Estate Group Is the Maine real estate market as hot as it seems? Yes, yes it is!. With low median days on market, high list to sale price ratios, and rising prices, we are in a seller’s market. In Portland and beyond, multiple offers are commonplace even during the winter months. Let’s take a look at what is driving this robust market, its stability and what to look for in the balance of 2018. As a Realtor working with sellers, the two most frequently asked questions I receive are: 1. How much can I get for my house? 2. How long will it take to sell my house? In 2017, the majority of the time I was able to answer question 1 with “more than you paid for it” as Cumberland County’s median price is at an all-time high. And to question 2, “it will take about two weeks to get a contract on your house!” It’s a great time to be a seller. But it’s not necessarily a great time for buyers as they are struggling with the challenge of low inventory and competition from multiple offers. Some buyers are writing offers on 5 or 6 properties before finally securing one. In 2017 in Cumberland County, we saw the highest EVER median sales price at $285,000! Prices have increased 18% since 2013. If you purchased your home about 5 years ago you should be in good shape IF you have a median priced home. If you have a luxury home, you may not see an increase at all. The luxury market has remained stagnant. With homes priced above $500,000 in Cumberland County, the prices have remained flat for the last FIVE years. How fast are homes selling? The median days on market for single family homes in Cumberland County was ONLY 15 days in 2017. So, for most folks in Cumberland County they sold their home in about 2 weeks! A blessing and a curse for some, as the scramble to find an available home was tough in 2017. Buyers need to be ready to make a decision at the time of the showing. If they want to sleep on it overnight, the house could be gone by morning. The median days on market is at a record low. When looking at the median days on market since 2000, what I find fascinating is that the days on market during the 2006 - 2007 peak were over 60 days, compared to around 15 - 20 days in the last two years. This is a good sign for the real estate market in 2018. Diving into the home value trend a little deeper, let’s consider pricing changes over the last 20 years. The previous price peak was in 2005, 2006 and 2007 when the median price for a single family in Cumberland County remained at $250,000 for 3 years. Then we had the dip and have climbed steadily to the new all-time high of $285,000. Prices are now 14% above the previous peak! Are we due for a correction soon? I don’t think so, not quite yet. When we look at the percentage of price change year over year, we see the growth is a lot slower during this cycle. Last time we saw price growth rates at 12% - 14% was in the years preceding the peak (2002 - 2004), and most recent price increases are half that at 6%-7%. The prices are climbing in Cumberland County but at a slower rate. That is a very good sign! What is driving the market? - Millennials - Lifestyle seekers - Baby Boomers The strong economy is raising incomes among millennials, which gives them the ability to save a down payment and qualify for a heftier mortgage, even as they repay their student loan debt. Millennials could account for 43% of home buyers next year, up from around 40% this year. Maine was classified as an “inbound” state in 2017 as more people moved to Maine than moved out (Mainebiz, Jan. 3, 2018). Why are people moving here from Massachusetts, Connecticut and other states? It’s not for the job opportunities. We find that the folks relocating here that we work with are CHOOSING Maine - they have checked out other areas and fallen in love with our active lifestyle, our food and beer scene, our welcoming personalities and they usually have a tie to Maine - grew up here and are coming back, went to college here or had a family summer place here growing up - some kind of connection. The baby boomers are downsizing and looking for one floor living and a first floor master. The ranch is making a comeback. Both millennials and baby boomer are looking for new construction or fully renovated homes with an open floor plan and thoughtful, usable spaces. Many buyers don’t want to do any work to their new home. They just want to unpack and move on with their life. 2018 will be “steady eddie”. We will see similar results to 2017. Inventory will remain low with supply catching up with demand toward the end of 2018. The cash offers and low days on market will continue. We will see growth and demand for new construction and in planned communities. Single level homes, smaller and efficient homes will be desirable for downsizers and millennials.

Read Article

MEREDA’s Morning Menu Breakfast Event “148 Years in the Making…Maine Medical Center’s $512 Million Expansion Project”

March 26, 2018

This Spring, Maine's largest hospital project ever, will commence at Maine Medical Center in Portland. Its purpose is to expand and modernize the hospital to provide the best possible patient ...

This Spring, Maine's largest hospital project ever, will commence at Maine Medical Center in Portland. Its purpose is to expand and modernize the hospital to provide the best possible patient care.The Maine Medical Center Phase IIB Master Facilities Project is a $512 million investment in the care provided at Maine's largest and most advanced medical center. The project will relieve a severe shortage of beds at the hospital, not by adding more beds, but by providing 128 new single patient rooms, allowing MMC to better meet the growing demands of acutely ill patients. It will also add 19 new procedure rooms, increasing capacity and replacing older operating rooms no longer able to accommodate the latest technology. The project calls for the replacement of the existing employee parking garage with a larger parking facility that will alleviate an acute shortage of parking on the campus. It also creates a new main entrance for the hospital on Congress Street. A $50 million investment in ambulatory facilities in the Portland region is also planned. Construction is expected to get under way in early 2018 and be completed in 2022. Join the Maine Real Estate & Development Association (MEREDA) and Jeff Sanders for breakfast on April 26, 2018 from 7:30 AM - 9:00 AM at the Clarion Hotel in Portland to learn more about the rationale, scope, timing and challenges of this massive expansion project. About the Event: April 26, 2018 - 7:30AM to 9:00AM Clarion Hotel 1230 Congress Street Portland, ME Breakfast: 7:30 AM Program: 8:00 - 9:00 AM About the Speaker: Jeffrey D. Sanders serves as the Executive Vice President and Chief Operating Officer of Maine Medical Center, a position he has held since 2010. Before joining MMC, Mr. Sanders worked at Intermountain Healthcare in Utah for ten years as an operations officer at Intermountain Medical Center in Murray and McKay-Dee Hospital in Ogden. Mr. Sanders earned his Bachelor of Arts degree from Saint Anselm College in Manchester, N.H., and his Masters of Healthcare Administration degree from The University of North Carolina at Chapel Hill. A native Mainer, he is a graduate of Gray-New Gloucester High School. Registering for this Event: MEREDA Member: $45 each | Non - Member: $55 each Register After April 19, 2018: Member: $55 each | Non-Member $65 each Your RSVP is requested by April 19, 2018. Payment is expected at the time of registration. No refunds will be granted to anyone who registers, but fails to attend or who cancels after April 19, 2018. This MEREDA Morning Menu Breakfast Event is Sponsored by Norway Savings Bank. Visit www.mereda.org for more information and to register.

Read Article

The Future of Buildings

March 20, 2018

by Alan Kuniholm, PDT Architects and Gunnar Hubbard, Thornton Tomasetti We are all involved in the world of real estate. For some of us, it’s our profession. The rest of ...

by Alan Kuniholm, PDT Architects and Gunnar Hubbard, Thornton Tomasetti We are all involved in the world of real estate. For some of us, it’s our profession. The rest of us live and work in homes and buildings of all scales, sizes, and quality. All buildings use energy and impact our health and wellness. The decisions we make on a daily basis have an impact on our pocketbooks, our health, and climate change. The small choices we make in our homes and workplaces can contribute to a healthier built environment. In a world of ever-diminishing resources, thinking globally, acting locally resonates more now than ever. What better legacy to leave for future generations? Buildings that are healthy, attractive, have low embodied energy, and have low maintenance and utility costs. Is this the future of architecture? Being green and sustainable doesn’t sound like anything new. So, what’s the buzz? At a recent MEREDA breakfast event, Alan Kuniholm from PDT Architects and Gunnar Hubbard and Mike Pulaski from Thornton Tomasetti offered forward-thinking ideas and case studies on where the real estate and architecture profession is going in terms of innovation and high-performance, low-energy buildings. Rating systems and initiatives that determine performance standards have quickly evolved from Energy Star, Green Globes, and LEED, to Passive House and Net Zero, and soon may very well be a Net Positive standard. Mike Pulaski shared the success of a new performance standard called Passive House. Maine is one of the states leading the applied thinking of this rating. The Passive House Standard has been gaining a lot of momentum in the industry and has only recently been applied in the U.S. to large-scale commercial projects. This standard is the most rigorous energy standard in use now and typically results in buildings that can save over 50% of the energy used in conventional buildings. But often teams start out with intentions to achieve this standard, falling short due to the inability to realize first cost savings in the mechanical design. Now there are solid case studies and tools for identifying cost-effective design approaches to achieve PH on large-scale projects. Thornton Tomasetti has completed over 500,000 sf of PH projects, and are seeing projects achieve these ambitious energy goals with less than a 2.5% cost premium and a typical payback of 4-8 years. Gunnar Hubbard reported that Maine is very active when it comes to high performance and has some great case studies to build on. The development and affordability of building information modeling (BIM) and other new software makes it possible for design teams to be more accountable and intentional about outcomes. The “master architect” of days gone by that was responsible for an “aesthetic” is now being redefined as the “master collaborator” with greater access to expertise and tools. Larger teams with more expertise brought in earlier in the formative stages of project development can reap greater rewards. Being in the moment, experiencing a sense of place, delight, community, and feeling protected evokes an emotional tie to our environment. Alan Kuniholm shared his story of making forts in the woods as a child in a deep pine forest, using fallen pine boughs to shape natural igloos, layering pine needles inside and out with leaves to shed rain and for insulation, and freezing water in flying saucers to make windows in the winter. Experiencing the quiet, the smell of pine, the laws of thermodynamics, the wind whistling through the tree canopy, and the sight of multiple igloos in a cathedral of white pines, its young creators called it cool country. Many of us feel that making high-performance buildings is a moral imperative and see the future built environment through that lens. As professionals involved in the development of buildings, we know we can do better and we are anxious to apply new technologies and research. While the buildings we are designing today may have lifespans over a hundred years, and we will be using technical expertise unimaginable just decades ago, cool country evokes the emotional tie we develop to the world around us, a sense of participation and authenticity, that we need to cultivate in ourselves and encourage in our owners and colleagues. When it comes to the future of buildings, that is the way forward to preserve our world for our children.

Read Article

How Drones Are Helping Traditional Industries Take Flight Into the Future

March 13, 2018

By Blueprint, presented by CBRE Not long ago, the mere thought of drones was reserved for the military and sci-fi movies. Today, they’ve become a part of everyday conversation among ...

By Blueprint, presented by CBRE Not long ago, the mere thought of drones was reserved for the military and sci-fi movies. Today, they’ve become a part of everyday conversation among friends, in the media and beyond. While drones aren’t swarming the skies yet, many companies across industries are using them more and more to increase efficiency and productivity. “Drone technology is going to disrupt businesses,” says Elaine Whyte, head of drones (UK) at PricewaterhouseCoopers. “They’re agile, inexpensive, and rapid to respond. So, they can go and reach places that are difficult for a business to get to.” Ultimately, implementing unmanned aerial vehicles (UAVs) will make jobs easier, safer and more cost-effective, which is a win-win across sectors. “Now, companies can afford to figure out how to implement those technologies into their existing workflows, to make decisions faster,” says Kevin Lang, vice president of Enterprise Services at PrecisionHawk, a Raleigh, N.C.-based company that provides advanced commercial drone technologies. With the ability to fly, gather data and capture images—all without humans manning the vehicle—it should come as no surprise that drones will soon become commonplace. Below, we look at how drones are set to streamline and possibly revolutionize industries. BEYOND DISTRIBUTION While autonomous delivery technology is primed to become one of the central sources for major retailers shipping goods, it’s certainly not the only area where drones are taking flight. “The more that regulation opens up and we find convenient ways and safe ways to fly drones that can impact infrastructure, insurance and construction industries—use cases are going to continue to grow,” says Lang. “It’s a really exciting time to be in the industry.” Having a bird’s-eye view will reap many benefits. “Whether it’s a tall structure or a floor plan change, having the ability to have a fresh perspective allows companies to possibly make a different business decision moving forward.” GROWING IN AGRICULTURE Aerial drones are increasingly being used to enhance the crop cycle in a myriad of ways throughout the agriculture industry. From crop-monitoring and spraying, to irrigation, soil analysis, planting and beyond, multispectral UAVs are bringing the ancient practice of raising crops for consumption into the modern age. Soaring with the potential to increase productivity, sustainability and boost food production, drones are revolutionizing the legacy agriculture industry in ways never seen before. Farmers are also embracing drones as an efficient means to discover pest problems and other patterns that might otherwise be challenging to uncover without perfect vision from above. CONSTRUCTION Drones are shaping the construction sites of the future. The lightweight winged gadgets are taking the industry to new heights, in some case acting as the watchful eyes in the sky for larger machines on the ground. “We see it as really useful before you even start to put a shovel in the ground, to understand what you’re getting into from a project management standpoint, and from a cost standpoint,” says Lang. In fact, San Francisco-based tech startup Skycatch deploys the buzzy deft flyers to help construction companies more efficiently and safely guide unmanned bulldozers. Off to a promising start, Skycatch’s sensor-loaded drones have already given Japanese machinery corporation Komatsu gather, process and analyze 3D visual data from the sky in ways that enable automated diggers to more accurately complete construction tasks. STRUCTURAL INSPECTION Another industry achieving more with less via disruptive drone technology is the niche structural inspection sector. More and more high-tech UAVs are being deployed to execute extraordinarily close-up inspections of structures of all kinds, skyscrapers, bridges and even industrial wind turbine blades included. In a single flight, camera- and sensor-equipped precision drones are quickly, efficiently able to thoroughly examine large, tall structures in ways that the naked human eye often cannot, at least not without considerable safety risks to inspectors at times. In fact, drones from Detroit-based Skyspecs inspect industrial wind turbine blades in fewer than 15 minutes per examination, leading to lower overall maintenance and operations costs, and to much safer inspections overall. JOURNALISTS AND MEDIA Recent advances in autonomous drone-captured imagery gave birth to the term “drone journalism” — and, of course, to the resulting controversy surrounding the emerging field. The use of drones to give journalists a leg up on reporting news as it unfurls is taking flight in ways we couldn’t have imagined just a few short years ago. Legal and ethical complexities are hampering widespread adoption of the emerging practice of reporting and information gathering via drone, but that isn’t stopping many journalists from exploring this exciting new arena. The esteemed Poynter Institute is an early leader in the space, offering groundbreaking “Drone Boot Camp” courses through its freshly unveiled Drone Journalism School. Students learn how to use drones to tell colorful, compelling stories in ways—and from heights and angles—not seen before. Drones can also help journalists report from on high from breaking news scenes that might not be safe for them to venture into, such as during natural disasters like mudslides and wildfires. Unique angles from journalist-guided drones’ eyes in the sky are just the beginning. TRANSPORTATION Drones are also bringing big changes to the transportation industry, modernizing how we send and receive goods at every level, industrial and consumer alike. Through every phase of transport, UAVs are trimming costs, saving time and enhancing worker safety. Drone technology is particularly effective in the transportation logistics sector, and across many modes of transport. By land, by sea, by rail and by air, autonomous drones are shaping the future of manufacturing, assembly, research and development, distribution and warehouse facilities and more. For example, drones are streamlining ocean freight inspections. They collect key data that can be automatically integrated into existing transportation logistics systems as cargo is loaded and unloaded in real time. There’s no denying that drones are profoundly transforming industries of all scopes and sizes, and at a considerably fast pace. They’re enabling companies—and the people who lead and work for them—to streamline operations, better collect information, prepare for and accomplish tasks faster, safer, and more efficiently and affordably. Article originally published on February 1, 2018 - https://blueprint.cbre.com/how-drones-are-helping-traditional-industries-take-flight-into-the-future/ “Blueprint, presented by CBRE, is an online magazine dedicated to telling timely and insightful stories about the transformational role real estate plays in the world."

Read Article

You Can Have It Both Ways: Sound Masking Lets You Have Your Modern Open Office Design and Speech Privacy

February 27, 2018

by Tim Hooper, President, The Connectivity Group, Inc. According to a recent Boston Globe article, some 80 percent of offices these days are “open.” Open offices generally have the following ...

by Tim Hooper, President, The Connectivity Group, Inc. According to a recent Boston Globe article, some 80 percent of offices these days are “open.” Open offices generally have the following characteristics: low or no partitions, small or shared workspaces, a plethora of glass walls, and fewer doors and private offices. Common complaints about open office environments are noise distractions, interruptions, and lack of speech privacy, stemming from the fact that there are fewer walls and partitions to block sound. With so much open space in modern offices, conversations in open areas can be heard by people as far as 100 feet away. Those complaining are not alone – according to a recent survey of over 25,000 workers in over 2000 buildings, lack of speech privacy (i.e. overhearing everyone’s conversations) was far and away the workplace factor open office employees were most dissatisfied with, with nearly 60% of them citing it as a major issue. But open offices aren’t all bad – after all, there has to be some reason why companies keep building them, right? Facility managers, designers, and architects are rarely trying to make offices boring and drab replications of the office from Office Space – they are trying to make them elegant and functional. The recent trend is away from cubicles and towards common workspaces and areas. Those cubicle walls are coming down, partly because they are ugly, but also because companies are striving to create an environment that facilitates collaboration and transparency. Plus, adding glass walls and taking down partitions allows more natural light to come into the office, and open offices by their very nature give builders blank canvases that allow them to take risks and make creative spaces. These fun, cool spaces can be used as recruitment tools - who wouldn’t want to work in like Google’s new Tel Aviv office that features a slide between floors and a Lego room? So where’s the balance? How do you design beautiful, modern, collaborative buildings and workspaces that are acoustically comfortable? The most effective solution is to install a sound masking solution in the office space. Sound masking is the addition of an unobtrusive background sound into an environment that covers up excess noise in the environment through speakers installed in or above the ceiling. With sound masking, companies can adhere to their open-office vision while ensuring the finished product is still an acoustically comfortable place to work. We installed sound masking in this beautiful office in downtown Boston to create, in their words, “an open office experiment that actually worked.” This global staffing firm is so happy with their sound masking that they are having us install it in all of their future satellite office renovations. As more offices move to more collaborative and aesthetically pleasing open-office plans, sound masking should continue to be a part of the trend. For more information visit www.connectivitypoint.com.

Read Article

Tax Reform and the Real Estate Industry

February 20, 2018

by Greg Bryant, Managing Partner, Bedford Cost Segregation, LLC I started my career in commercial real estate in 1976. Things seemed straightforward then, maybe it was because I was young ...

by Greg Bryant, Managing Partner, Bedford Cost Segregation, LLC I started my career in commercial real estate in 1976. Things seemed straightforward then, maybe it was because I was young and naïve. For the last 15 years, my firm has been assisting property owners and their tax professionals take advantage of the various incentives related to accelerated depreciation, bonus depreciation and expense treatment of certain improvements made to properties. We strive to understand the changes to Tax Law as they relate to real estate. One thing that is constant is when you get comfortable with the changes to the law and regulations, things change again. I am beginning to wonder if I am getting too old for this line of work! By way of reference, Congress has passed many laws since 2001 that were intended to promote construction by offering bonus depreciation for any assets that had a tax life of 20 years or less. These items are identified as part of a Cost Segregation Study (CSS) which identifies 39 or 27.5, 15, 7 and 5-year assets. Bonus depreciation has ranged from 30% to 100% but it has always only been available for new, original use property – that is until the Tax Cut and Jobs Act (TCJA) was passed on December 22, 2017. Bonus depreciation is now available to acquired previously owned property at a rate of 100% for these short life assets until 2023 and then phased out 20% per year. TCJA also eliminated certain designations such as Qualified Leasehold, Retail and Restaurant Improvements – all of which had certain nuances and tax treatments. As an example, Qualified Restaurant Improvements used to enjoy a 15-year tax live (as opposed to 39-year). TCJA has now changed it back to 39-year as of January 1, 2018. TCJA also created some confusion in that Congress went to great lengths to define or redefine Qualified Improvement Property (QIP) depending on whether you are looking at the tax treatment for Section 179 expense for your trade or business vs. evaluating the same expenditures on a rental property. For some reason best known (or perhaps unknown) to Congress, important language was left out of the QIP description and while the intent was probably to have this become a 15-year asset (which would have been eligible for bonus depreciation) it remains a 39-year asset. The consensus in our industry is that there will need to be a Technical Correction issued but since this is related to Tax Law, it will take a congressional vote to make this change. “So, this all becomes effective January 1, 2018”? you ask. That would make way too much sense! September 27, 2017 is an important date as it represents when many of the new provisions and rates take effect. If you purchased a used building on September 28th, would you get bonus depreciation? Probably not due to written binding contract rules and other nuances. Construction in progress that spans that date also needs to be evaluated for treatment under the old or new rules. TCJA also introduced new rules regarding 1031 Exchanges making them solely attributable to Real Estate transactions. On the surface that doesn’t seem like a major deal but consider the impact when the exchanged property contains separately identified personal property. Does this trigger a revenue recognition and taxable event of the personal property? Will the carry-over basis from the exchanged property be reduced by the personal property not eligible for the 1031 treatment? These and other questions continue to surface with no definitive guidance as of yet. While TCJA’s broadcasted message addressed corporate and personal tax rates, a myriad of other modifications to the Tax Code were made. What is covered in this short article are but a few examples of the “nuances” we are dealing in the midst of what is shaping up as our busiest tax season ever. While the intent of the legislation was to simplify the Tax Code, I would argue that my life has not been simplified!

Read Article

MEREDA’s Annual Spring Networking Social

February 20, 2018

Thinking Spring? Think MEREDA on March 22! At this time of year, who isn’t already thinking about Spring? Why not make plans now to join us at Ri Ra Irish Pub ...

Read Article

MEREDA’s DevelopME’s Lunch & Learn Series “Breaking into Development” Part Three:”Managing Assets for Maximum Value”

February 14, 2018

MEREDA's DevelopME Committee is pleased to host its final installment of the Lunch and Learn series "Breaking Into Development". Sherrin Vail from Northern New England Housing Investment Fund (NNEHIF) and Brit Vitalius from Vitalius Real Estate Group will share their insights on the best practices of asset management including overseeing property management, maintaining accurate financial information, making capital decisions to maximize value, and how to execute a disposition while achieving the maximum possible sale price.Ethan Boxer-Macomber will return to moderate the discussion and the hypothetical project from part I and part II of this series will pick up right where the last installment left off.Join DevelopME for part three of its Lunch and Learn Series "Breaking into Development" on March 14, 2018 at the Rines Auditorium, Portland Public Library from 11:30 a.m. - 1:00 p.mAbout the Event: March 14, 2018 - 11:30AM to 1:00 PM Rines Auditorium Portland Public Library 5 Monument Square Portland, ME Lunch: 11:30 AM -12:00 PM Program: 12:00 - 1:00 PM About the Panel: Moderating the event once again is Ethan Boxer-Macomber, LEED AP, who has over 18 years of experience in real estate, housing, and community development and has successfully led multiple large-scale residential development projects across southern Maine. In 2013, Ethan started Anew Development, a Portland-based real estate development company dedicated to residential infill that provides highest, best community value by adhering to principles of quality urban design, smart growth, and sustainability.Ethan formerly was a City Planner for the cities of Davis, California, and Portland, Maine. He earned a BS in natural resources and ecology from the University of Maine and an MS in community planning and development from the University of California, Davis. He is a returned Peace Corps volunteer and was formerly certified by the American Institute of Certified Planners (AICP).Sherrin Vail joined Northern New England Housing Investment Fund (NNEHIF) in 2017 as Director, Asset Management Operations. She is responsible for leading all routine asset management functions from construction and lease-up through and during stabilization while overseeing asset analysis and quarterly reporting, compliance monitoring and reserves usage.Prior to her most recent role as the Branch Executive Director for the Greater Portland YMCA, Sherrin served as the Director of Property Management for Avesta Housing and has worked in the real estate industry for 18 years. Sherrin earned her BA in Business Administration from Merrimack College. She currently serves as the President for Maine Real Estate Manager's Association (MREMA).Brit Vitalius, Vitalius Real Estate Group's founder and Designated Broker, has been representing buyers and sellers of multi-unit investments since 2004. He established VREG in January of 2011 to provide a full complement of residential, multi-family and commercial brokerage services to clients.Brit is a yearly presenter at MEREDA's Annual Forecast Conference for the multi-unit sector, and he is a leader and advocate in the landlord community. Brit is in his fourth term as President of the Southern Maine Landlord Association, a group which seeks to keep landlords up-to-date on important issues, trends and regulationsRegistering for this Event: MEREDA Member: $15 each | Non - Member: $25 each Register After March 7: Member: $25 each | Non-Member $35 each Your RSVP is requested by March 7, 2018. Payment is expected at the time of registration. No refunds will be granted to anyone who registers, but fails to attend or who cancels after March 7, 2018. This DevelopME Lunch & Learn Event is sponsored by Camden National Bank and Northern New England Housing Investment Fund. Visit www.mereda.org for more information and to register.

Read Article

No room at the inn; low vacancy rates squeeze urban centers

February 6, 2018

A sell-out crowd of more than 900 were on hand as MEREDA hosted its annual Forecast Conference last month in Portland. This is the largest gathering of commercial real estate ...

A sell-out crowd of more than 900 were on hand as MEREDA hosted its annual Forecast Conference last month in Portland. This is the largest gathering of commercial real estate professionals in Maine, and is specifically geared toward developers, brokers, architects, bankers, attorneys, accountants and other industry professionals. Each year MEREDA assembles some of Maine’s top real estate leaders to provide an economic overview and outlook on the profession’s key economic indicators, along with the popular market overview by property type, focusing on both commercial and residential real estate forecasts. The sentiment was very jovial, with the market having hit its highest point in the last decade, and forecasts from individual presenters dotted with optimism vis-a-vis the health of the market. That said, the lack of inventory on the market continues to be a theme, especially according to Dava Davin, Portside Real Estate Group, with the residential forecast, Justin Lamontagne, NAI The Dunham Group, with the southern Maine industrial forecast, and Brit Vitalius, Vitalius Real Estate Group, with the multi-family forecast. In each of these three segments, presenters indicated that their sector could continue to grow if there were more quality inventory available, especially in the Portland market, which is particularly desirable. Some of the activity has migrated to suburbs such as Westbrook, Saco, and Biddeford they said. Davin said the future is in the "surban market," outside of the city with walkable amenities. Lamontagne reported that the industrial vacancy rate has fallen to 1.25% in the last seven years in all of Cumberland County, and though lease prices have risen, they aren't yet high enough to fuel new construction, he said, noting that "affordability still matters." "Real estate is Maine's second most important driver of GDP, second only to healthcare," reminded MEREDA president Paul Peck. "The market is at an all-time high, but this trajectory could still continue for at least a few more years. Experts have been tapped to present today, and to help us identify areas where there is continued work to do, to keep our industry and Maine's economy healthy." On the Midcoast, Brunswick Landing continues to interest folks, according to Steve Levesque of the Midcoast Regional Redevelopment Authority, with space downtown and at Brunswick Landing particularly hot. Kennebec and Androscoggin Counties are seeing demand too, especially in the industrial space, and with a handful of scattered developments making a large impact, according to Kevin Fletcher of KW Commercial. In Bangor, Bev Uhlenhake, Epstein Commercial Real Estate, reported that vacancies and closures at the Bangor Mall continue to skew numbers, though demand both downtown and on the water is still very considerable. That said, Nate Stevens of CBRE | The Boulos Company, reported almost stagnant demand for existing office space in southern Maine, with those interested, like WEX, developing space specific to their needs. "Hip, urban space, close to population centers, is still key," summarized Peck. "Though we will start to see development further up the midcoast and into suburbs, such as Falmouth, areas surrounding Camden, Brewer, ..." Each of the presentations from MEREDA's forecast conference are available for download here. "Our spring conference is slated for May 16, and we will tackle the high cost of construction, from workforce development programs to project planning, and to adopting new technologies, such as modular, LEAN, and others, which can cut down on timelines and moderate expenses," said Peck. “This issue has been around for a while, and we’re thrilled to present a toolbox for developers and others. Hopefully the solutions to this problem can help us tackle the inventory issue.” Registration for MEREDA’s spring conference will be available soon at MEREDA.org.

Read Article

Maine Real Estate & Development Association (MEREDA) Announces Appointments to Board of Directors

February 5, 2018

Donald McFadden, C.G., Director of Environmental Services at St.Germain Collins, and resident of Scarborough, and Mark Stasium, of Portland, Senior Vice President in the Commercial Real Estate Lending Division of Camden National Bank, have been elected to the board of directors of the Maine Real Estate & Development Association (MEREDA), a statewide organization of commercial real estate owners, developers and related service providers. [caption id="attachment_1955" align="aligncenter" width="500"] (l) Don McFadden, St.Germain Collins(r) Mark Stasium, Camden National Bank[/caption] Don McFadden joined St.Germain Collins in 2014 and has been providing environmental consulting services in Maine and throughout New England for more than 23 years. He has specific expertise in assessing risk and liability associated with commercial and industrial real estate and the interpretation of geologic, groundwater and chemical data. Prior to joining St. Germain Collins, Don owned and operated Black Point Environmental Consulting, LLC. Don has served on MEREDA’s Conference Committee for the past three years.Mark Stasium is Senior Vice President in the Commercial Real Estate Lending Division of Camden National Bank where he works with commercial real estate investors and developers and is responsible for originating commercial real estate loan transactions in northern New England and northeastern Massachusetts. Mark has 28 years of commercial lending and commercial credit experience. Prior to joining Camden National Bank, he was previously employed by Peoples Heritage Bank and TD Bank. Mark currently serves on MEREDA’s Conference Committee.“Both St.Germain Collins and Camden National Bank have been great supporters of MEREDA over the years. Don and Mark bring a wealth of expertise to the group and we are excited to work with them now at the Board level,” says Shelly R. Clark, Vice President of Operations for MEREDA.For further information, please contact MEREDA’s Vice President of Operations, Shelly R. Clark at 207-874-0801 or visit www.mereda.org.

Read Article

MEREDA’s Morning Menu Breakfast Event “A Presentation by FocusMaine”

January 11, 2018

Join MEREDA for breakfast on February 13 from 7:30 AM - 9:00 AM at the Cross Insurance Center in Bangor for a presentation by FocusMaine, a 10-year initiative to strengthen and revitalize opportunity and prosperity in Maine by ...

Join MEREDA for breakfast on February 13 from 7:30 AM - 9:00 AM at the Cross Insurance Center in Bangor for a presentation by FocusMaine, a 10-year initiative to strengthen and revitalize opportunity and prosperity in Maine by accelerating the creation of quality jobs in the areas of agriculture, aquaculture, and biopharmaceuticals. FocusMaine also focuses on knowledge workers, who enable growth in these sectors and has centered its efforts on traded sectors, which sell goods and services outside of the state, thereby generating more full-time work, higher wages, and more new jobs in the local economy. Importantly, they also work alongside talented partners, including Coastal Enterprises Inc., Gulf of Maine Research Institute, the Maine Aquaculture Association, and the Maine Center for Entrepreneurial Development, and are led by a dedicated leadership team of private sector leaders and others deeply committed to sustainable economic growth in the state. Andrea Cianchette Maker, a partner at Pierce Atwood, and Michael Dubyak, chairman of WEX, Inc., co-chair FocusMaine. Kim Hamilton is the president.About the Event:February 13, 2018 - 7:30AM to 9:00AMCross Insurance Center 515 Main StreetBangor, MEBreakfast: 7:30 AM Program: 8:00 - 9:00 AMAbout the Panel:Andrea Cianchette Maker, Partner and Government Relations Practice Group Leader at Pierce Atwood, LLP provides governmental relations services in Maine and in Washington, DC with Maine's Congressional delegation. She is pleased to be engaged as Public Policy Counsel for MEREDA. Her government relations practice focuses on real estate, economic development, health care, education and workforce development issues. Andrea is adept at building coalitions and developing effective stakeholder relations, as well as helping clients create personal relationships with key policy and decision makers. Her sensible, proactive and direct approach is refreshing and empowering in the complex and sometimes perplexing public policy arena. Committed to creating a strong and vibrant State of Maine, Andrea enjoys working with clients and organizations to strengthen Maine's economy. Andrea has developed strong and personal relationships with countless Maine policy makers, business people and association leaders. She has been active with many Maine non?profit organizations, including her current role as Co-Chair of FocusMaine. Andrea's honors and distinctions include receiving the Crystal Heart Award by the American Heart Association (Maine Chapter) in 2017 as well as being named as one of four "Women to Watch" by Mainebiz and recognized by Maine magazine's "50 Mainers" issue in 2016. Kim Hamilton serves as president of FocusMaine. Prior to this, Kim was Chief Impact Officer at Feeding America, the nation's largest hunger-relief organization. While at Feeding America, she led their research, nutrition, and ending hunger programs. Prior to joining Feeding America, Kim served in a variety of senior roles at Bill and Melinda Gates Foundation, including as Director of Strategy, Planning and Management for Global Policy & Advocacy. During her time with the foundation, she also led grant making programs and developed advocacy strategies to advance the foundation's goals in a variety of fields, including, agricultural development, financial services for the poor, and water, sanitation and hygiene (WSH). Kim has also served as President of NetAid, Director of Program Planning and External Relations at the Migration Policy Institute, and in a variety of other organizations in the think tank and philanthropy fields. Kim grew up in North Yarmouth and went to Greely High School. She holds a Ph.D. in Sociology with a focus on Demography from Brown University, an M.A. from Johns Hopkins University for Advanced International Studies, and a B.A. from the Robert D. Clark Honors College of the University of Oregon. Kim and her husband, Barry Fitzsimmons, spend their time between Yarmouth and Chebeague Island. Registering for this Event:MEREDA Member: $25 each | Non - Member: $35 eachRegister After February 6, 2018: Member: $35 each | Non-Member $45 eachYour RSVP is requested by February 6, 2018. Payment is expected at the time of registration. No refunds will be granted to anyone who registers, but fails to attend or who cancels after February 6, 2018.This MEREDA Morning Menu Breakfast Event is Sponsored by Bangor Savings Bank, Bowman Constructors, City of Bangor, Epstein Commercial Real Estate and Webber Group.Visit www.mereda.org for more information and to register.

Read Article

MEREDA’s 2018 Annual Real Estate Forecast Conference & Member Showcase

December 28, 2017

Each January, over 750 of the state’s leading real estate experts attend MEREDA's TD Bank Sponsored Signature Event, the Annual Forecast Conference & Member Showcase. Scheduled to be held on January 18, ...

Each January, over 750 of the state’s leading real estate experts attend MEREDA's TD Bank Sponsored Signature Event, the Annual Forecast Conference & Member Showcase. Scheduled to be held on January 18, 2018 at the Holiday Inn By the Bay in Portland, this unique conference brings together the largest gathering of commercial real estate professionals in Maine, and is specifically geared toward developers, brokers, architects, bankers, attorneys, accountants and other industry professionals. Each year MEREDA assembles some of Maine’s top real estate leaders to provide an economic overview and outlook on the profession’s key economic indicators, along with the popular market overview by property type, focusing on both commercial and residential real estate forecasts.This event is well-known as an annual “must attend” for anyone involved in, or touched by, the real estate industry. You should attend if: You want to network with Maine’s top industry professionals. You could benefit from a sneak peek into Maine’s real estate industry – and would like to learn about key trends and transactions in regions and market segments (i.e. Southern Maine vs. Bangor region etc., and multi-family vs. retail transactions, etc.) You desire a front row seat for forecasts from leading insiders about industry trends and the economic recovery. You are in need of continuing education credits. You believe that Maine’s real estate sector is an important economic driver and want to support the future of the industry. Supplementing the conference each year is MEREDA's popular Member Showcase with MEREDA members exhibiting their products and services. The exhibition has become an integral part of our annual event providing a unique opportunity to network with MEREDA’s members.This course is approved for 4 Hours of Architect, Broker, Appraiser and Legal Continuing Education Credits.Registering for this Event: Members: $100.00 ea | Non-Members: $225.00 ea Prices increase by $15 after January 11 Special pricing is available for municipal officials ($50.00 ea) and students ($25.00 ea). Your RSVP is requested by January 11, 2018. Payment is expected at the time of registration. No refunds will be granted to anyone who registers, but fails to attend or who cancels after January 11. The speaker roster for this year’s event is outlined on MEREDA's website (which can be found by clicking the link below). Be sure to mark your calendar now to attend one of Maine’s premier real estate conferences! Click here for more information and to register.

Read Article

The Right Equation for Responsible Development: Spotlight on Young Street Apartments

December 12, 2017

In multi-part series, exclusive to the Maine Maine Real Estate Insider, we’ll provide an up-close look at the most notable commercial development projects of the past year that are helping ...

In multi-part series, exclusive to the Maine Maine Real Estate Insider, we’ll provide an up-close look at the most notable commercial development projects of the past year that are helping to fuel Maine’s economy in terms of investment and job creation. MEREDA is proud to recognize responsible development based upon criteria including environmental sustainability, economic impact, energy efficiency, social impact and job creation. Please join with us in celebrating Young Street Apartments. A conversation with Dana Totman, Avesta Housing. MEREDA: Describe the building and project. Dana Totman: Young Street Apartments is a 28-unit affordable housing building for seniors nestled in downtown South Berwick. It is a short walk from the elementary school, shops, restaurants, banks, churches, and more. This project employed 208 construction-related workers. The architect for Young Street Apartments was Lassel Architects and the general contractor was Pine Brook Corporation. Financing was provided by Bangor Savings, Neighborworks America, MaineHousing, Federal Home Loan Bank and Boston Capital. MEREDA: What was the impetus for this project? Dana Totman: In 2010, the Town of South Berwick purchased the former St. Michael’s church, located in the heart of town. The purchase included a vacant parcel of land without a purpose. South Berwick partnered with Avesta Housing and a vision was formed to build affordable senior housing. The idea was great – create a safe, quality, affordable place for seniors to live and thrive while keeping them centrally located so they can walk to the library, school, churches, and shops – but so was the challenge – obtain approximately six million dollars to fund the development. MEREDA: That sounds like quite a process. How long were you in the planning stages before construction started? Dana Totman: For nearly half a decade, South Berwick and Avesta Housing worked together tirelessly to recruit funders to the vision of affordable senior housing in South Berwick. Gradually, funders started to be inspired by this vision and pledge their support, and the construction of Young Street Apartments was completed in December 2015. MEREDA: Tell us about the most challenging aspect of getting this project completed. Dana Totman: Funding and building this infill project in a small, rural downtown was a notable feat! As I mentioned, it took a while to get funders on board. We knew we had a great project on our hands, but it took some time for us to convince others of the merit. Once we did though, we had an enthusiastic team behind us. MEREDA: Something unexpected you learned along the way was…. Dana Totman: I wouldn’t say this was unexpected, but we were reminded that our Core Values really speak to the heart of who we are as an organization. One of Avesta’s core values is Relationships, and the success of this project was all about relationships. The strong relationships established between Avesta, South Berwick, and the many funders of Young Street Apartments exemplify this. MEREDA: Now that it’s complete, what feature of the project do you think makes it the most notable? Dana Totman: Another important relationship that was established during development was one between Avesta Housing and York Hospital to improve access to healthcare for the residents of Young Street Apartments. With a focus on “aging in place” and breaking down barriers between low-income residents and healthcare, Avesta and York Hospital are piloting an innovative telemedicine service in the private wellness room at Young Street Apartments. This service is a virtual walk-in clinic meant to bridge the gap between regular visits to a primary care physician and emergency room services with same-day access (by appointment) to medical staff who can assess various symptoms via HIPAA-compliant video conferencing equipment. York Hospital offers the program free of charge to residents.

Read Article

Maine Real Estate & Development Association Announces Public Policy Committee Co-Chair

December 11, 2017

Michael Lane of Richmond, a partner at Preti Flaherty, has been named Co-Chair of the Maine Real Estate & Development Association’s (MEREDA’s) Public Policy Committee.Mike chairs Preti Flaherty's Real Estate Group and has represented clients in all aspects of real estate and land use law, including acquisitions, dispositions, obtaining federal, state and local regulatory approvals; commercial and public financing; title and conveyancing matters. Mike has built a strong timberlands practice representing mills, land management companies and industrial land owners in complex timberlands transactions, including acquisitions, sales, operating agreements, wood supply agreements, underwriting timberland titles, Land Use Planning Commission (LUPC) development compliance and permitting. He routinely appears before municipal planning boards, LUPC and the Department of Environmental Protection to permit residential, commercial and industrial projects.Mike also serves as Vice President and General Counsel to Charter Title Company, LLC, Preti Flaherty's wholly-owned subsidiary, a respected agent for a number of nationally recognized title insurance companies. He has substantial experience in underwriting and negotiating title insurance coverages involving multisite, multimillion dollar commercial transactions, particularly energy, industrial and timberland properties, covering Maine, Massachusetts and New Hampshire.MEREDA’s active Public Policy Committee meets regularly during each legislative session reviewing pending bills and regulations, identifying those of interest to the membership, and works to ensure the real estate industry’s concerns are considered. The committee works to influence and shape the final form of proposed laws and regulations, and initiates new ones when circumstances warrant. MEREDA’s Vice President and Public Policy Committee Chair, Gary D. Vogel says, “Mike has been a valuable member of MEREDA’s public policy committee. He brings a strong and diverse background on a variety of land use and development matters to MEREDA’s public policy committee. I look forward to working and collaborating with Mike on behalf of MEREDA’s members on the various legislative and regulatory issues that the public policy committee addresses”.For further information, please contact MEREDA’s Vice President of Operations, Shelly R. Clark at 207-874-0801 or visit www.mereda.org.

Read Article

Maureen Van Uden, TD Bank, Elected to the Maine Real Estate & Development Association’s Board of Directors

December 7, 2017

Maureen Van Uden, Senior Relationship Manager at TD Bank, has been elected to the Maine Real Estate & Development Association's (MEREDA) board of directors. Her 20+ year career at TD ...

Read Article

Maine Real Estate & Development Association’s DevelopME Committee Co-Chairs to Participate on Board of Directors

December 5, 2017

In early 2017, MEREDA announced the formation of a new committee for its enthusiastic emerging leaders. DevelopME was formed with a simple mission: "To engage membership and create professional development ...

Read Article

Less Parking, More Walking (and Reading and Biking and…)

November 28, 2017

By Blueprint, presented by CBRE In the not-too-distant-future, it’s predicted that autonomous vehicles will dominate cityscapes and redefine how urbanites commute. By 2030, a quarter of all miles driven in the ...

By Blueprint, presented by CBRE In the not-too-distant-future, it’s predicted that autonomous vehicles will dominate cityscapes and redefine how urbanites commute. By 2030, a quarter of all miles driven in the U.S. could be in shared autonomous vehicles, according to research by the Boston Consulting Group. Take New York City, for instance. If drivers decided to ditch their cars in favor of self-driving vehicles, the shift could potentially free up thousands of square feet of parking space, thereby creating an opportunity for inventive reuse of the space. To explore these possibilities, The Driverless Future Challenge, an open competition organized by Blank Space and the City of New York, solicited submissions from design and architecture firms from more than 25 countries. The premise: Imagine a New York City (one of the most congested urban centers in the world) where the advent of driverless cars could transform the design of infrastructure and the way New Yorkers regularly commute. EMBRACING UNPREDICTABILITY FXFOWLE Architects, a N.Y.-based architecture and urban design firm, jumped at the chance to participate in the competition, as it offered an opportunity to explore new ideas that could impact the urban realm, notes Dan Kaplan, senior partner, FAIA, LEED AP, at the firm. It was, to put it simply, a challenge. “The one predictable thing about how autonomous vehicles are going to be adapted to daily life is … unpredictability,” says Kaplan. But if the advent of driverless vehicles lessened the demand for public parking spaces, there had to be a new and cost-effective way to reclaim these open spaces for public and pedestrianized uses. By Kaplan’s estimation, if 5 percent of the existing road bed in all of New York City’s five boroughs was converted into pedestrian areas, it would be “the equivalent of gaining a Central Park.” “If you think of the streets as a resource, and a parked vehicle uses it only a low percentage of the time, why should it take up this very precious space for what is a very low rental?” Kaplan says. Faced with this problem, Kaplan and his team of 15 designers, along with transportation engineer Sam Schwartz, devised a solution: FXFOWLE’s Public Square, a plug-and-play system of interlocking unitized squares that can be used for a variety of public-friendly applications, from retail stands to gardens and green space. MODULAR GREEN SPACE The Public Square modules can be assembled and modified into myriad configurations to meet the needs of different neighborhoods, creating a raised-floor environment for the street. “They’re very shallow pedestal systems that basically extend the sidewalks out,” Kaplan says. Another key feature: The squares feature interchangeable permeable surfaces and stormwater retention material that can hold 100 gallons of water. In New York City, where 72 percent of the city’s 305 square miles of land area is covered by impervious surfaces, introducing more water retention material can help offset stormwater runoff into sewers, Kaplan notes. The installation of a Public Square module isn’t intended to be permanent. “I expect this could be a 20-year solution,” Kaplan says. And regardless of whether or not autonomous vehicles take off as predicted, Kaplan believes there will be a demand for public space solutions like Public Square in urban areas, as well as on corporate and college campuses. “There is such a desperate need for public space and streetscape enhancement,” says Kaplan. “And this could be deployed without autonomous vehicles serving as the catalyst.” Article originally published on August 22, 2017 - https://blueprint.cbre.com/less-parking-more-walking-and-reading-and-biking-and/?__prclt=Ky8x0J7w “Blueprint, presented by CBRE, is an online magazine dedicated to telling timely and insightful stories about the transformational role real estate plays in the world."

Read Article

How To: Sublet your way around a commercial real estate shortage

November 21, 2017

by Justin Lamontagne, CCIM, Partner | Broker, NAI The Dunham Group Let me paint a picture and it may sound familiar. You are a small business owner in a tight ...

by Justin Lamontagne, CCIM, Partner | Broker, NAI The Dunham Group Let me paint a picture and it may sound familiar. You are a small business owner in a tight commercial real estate market. You have grown the company and are looking to hire new talent. Your office space needs have run the gamut. You started out of your home, and then set up shop at your favorite coffee house before reluctantly committing to paying for shared co-working space. Now, finally, you are ready to sign a direct lease for your own office space. However, there's a problem. Your company's growth is such that it is impossible to predict how much space you will need in six months, let alone over the three to five years most landlords would require. This scenario is quite common in Maine as the bulk of our commercial transactions are driven by small- to mid-sized companies. So for the sake of these business owners and others, let's breakdown what I believe to be the best solution for this common concern: subleasing. At its most basic level, subleasing gives tenants an opportunity and right to find replacement tenants for their own space if things change. Some companies grow, some shrink, some pivot and need new types of space, and some go out of business. So subleasing is the most effective way to weather whatever transition your company is going through. In most leases, subleasing is perfectly permissible contingent upon landlord review and approval of the sub-tenant. In some cases, if the new tenant's use and credit is comparable, landlords will even release the original tenant and sign a direct lease with the new tenant. Most impactful for some of my clients is simply knowing they have this option if things change. It allows them to rest easier and more confidently sign a long-term agreement. I have even put together deals where a client takes more space than they need, anticipating growth but fixed with a plan to sublease excess space from Day 1. Again, this is a perfectly acceptable and legal course of action if written into a lease up front. It is important to note that subleasing does not relieve the main tenant from any liabilities or requirements of the initial lease. If anything, there are more liabilities and risks. Proper credit and financial background checks are vital. You should also consider consulting your insurance agent about any additional coverage you should carry as the result of subletting your space. You are, in essence, playing landlord and should act as such. A common provision in sublease arrangements is that the main tenant cannot, in most cases, make money on the sublease. In other words, if a tenant signs a long term deal at $10 a square foot but the market improves and the tenant can now sublet their space for $15 a square foot, the landlord will get some or all of the additional rent. This is an important caveat that should be properly spelled out in the lease, particularly in volatile markets like we've seen the last few years. Subletting commercial space is a common and important tool. It is best to consult with your attorney or local real estate representative to fully understand its impact and how it may benefit your real estate needs. As your business evolves, rest assured that this lease provision offers you flexibility over the long term. Justin Lamontagne, CCIM, is a commercial real estate broker at NAI The Dunham Group, specializing in the office and industrial sectors. He can be reached at 207-773-7100 or [email protected] Article originally published in Mainebiz, March 7, 2016, http://www.mainebiz.biz/article/20160307/CURRENTEDITION/303029992/how-to:-sublet-your-way-around-a-commercial-real-estate-shortage

Read Article

MEREDA’s Morning Menu Breakfast Event “Building for the Future”

November 13, 2017

What are the trends now in housing to commercial to institutional and how might they change? What is going on now from "away" that should or could be done here? ...

What are the trends now in housing to commercial to institutional and how might they change? What is going on now from "away" that should or could be done here? Examples will be shared about advancements in technology and design to help create cost effective ways to improve value- while providing healthy, high performance, low energy, resilient buildings. What if all buildings were net positive energy? What if buildings improved people's health? What if buildings behaved more like nature does? What if accessing data was cost effective and at our fingertips to inform decisions during design, and also during operations? Join the Maine Real Estate & Development Association (MEREDA) for breakfast on December 14 from 7:30 AM - 9:00 AM at the Portland Regency Hotel for a vibrant discussion about the future of our built environment. About the Event:December 14, 2017 - 7:30AM to 9:00AMPortland Regency Hotel20 Milk Street Street Portland, MEBreakfast: 7:30 AM Program: 8:00 - 9:00 AMAbout the Panel:Michael Pulaski leads Thornton Tomasetti's Portland, Maine, office. He has more than 10 years of experience in sustainability consulting, providing sustainability strategies and engineering, energy and environmental analysis, and certification management. His clients range from building owners to design teams and contractors for new construction and existing structures. He is well versed in all LEED rating systems, and in Living Building Challenge certification and Passive House standards. Michael has a PhD in Architectural Engineering from Pennsylvania State University.Gunnar Hubbard, FAIA, LEED Fellow, is a recognized leader in green building across the United States and in Asia, Europe and the Middle East with 25 years of experience as a licensed architect, consultant, educator and advocate. As a principal and Thornton Tomasetti's Sustainability practice leader, based here in Portland, he oversees green building experts in the New York City, London, San Francisco and Portland, Maine, offices and collaborates with the firm's nine other practices and all offices. He is an expert on green building standards and in creating high performance, low energy buildings that range from affordable housing projects to huge mixed use projects. Earlier in his career, he worked as a research scholar at the Rocky Mountain Institute focusing on environmentally responsible architecture and development. He has taught courses at Cornell University, Ball State, and was the executive director of the Yestermorrow Design/Build School. His undergraduate in environmental studies was from the University of Vermont, and his graduate degree in architecture was from the University of Oregon.On the forefront of sustainable design and building energy conservation, Alan G. Kuniholm AIA, LEED AP, Maine Licensed Architect, is a practice leader at PDT Architects in Portland and a past president of the Portland Society for Architecture. His recent design work emphasizes energy efficiency, low utility costs, and occupant comfort.Al's current and recent projects include the LEED-Gold Certified Capital Judicial Center in Augusta (a MEREDA Notable Project of 2015); the Ceremonial Courtroom renovation at the Kennebec County Courthouse; green elementary schools in Caribou (current), Camden-Rockport, Brunswick, and Gorham; and housing projects for Avesta Housing in Portland, including Pearl Place II, certified LEED-Platinum. He is the designer of 50 Sewall St., Portland, the state's first LEED-certified office building, and was principal-in-charge of the LEED-Silver Kalikow Education Building at the University of Maine Farmington.Registering for this Event:MEREDA Member: $45 each | Non - Member: $55 each Register After December 7, 2017: Member: $55 each | Non-Member $65 eachYour RSVP is requested by December 7, 2017. Payment is expected at the time of registration. No refunds will be granted to anyone who registers, but fails to attend or who cancels after December 7, 2017.This MEREDA Morning Menu Breakfast Event is Sponsored by Norway Savings Bank. Visit www.mereda.org for more information and to register.

Read Article

MEREDA’s Morning Menu Breakfast Event: Manufacturing in Maine

November 9, 2017

Join MEREDA for Breakfast in Biddeford at Pepperell Mill Campus on November 30th for an interesting conversation about “Manufacturing in Maine”. We’re excited to have these three expert panelists confirmed as participating:Lisa G. Martin is executive director of the Manufacturers’ Association of Maine and leads the effort to build the Manufacturers’ Association as an economically strong industry through partnerships and collaborations with other industries, with state and federal agencies and organizations and within the manufacturing industry.Jeanne Hulit, President of Village Candle, is responsible for managing and growing the 24 year old manufacturer of premium scented candles from their location in Wells, Maine. And, Greg Hastings, SIOR is a Broker and Partner at NAI The Dunham Group. Greg has worked exclusively in the industrial real estate market for 30 years. About the Event: November 30, 2017 - 7:30AM to 9AM Pepperell Mill Campus 40 Main Street Biddeford, ME Buffet Breakfast: 7:30-8:00 am Program: 8:00-9:00 amAbout the Panelists:Jeanne A. Hulit joined Village Candle Company as President in May, 2017. She is responsible for managing and growing the 24 year old manufacturer of premium scented candles from their location in Wells, Maine. She most recently served as President of Northeast Bank’s Community Banking Division in Maine. Prior to joining Northeast Bank, Jeanne served on President Obama’s Cabinet as the Acting Administrator of the U.S. Small Business Administration in Washington, DC from September 2013 to February 2014. Before being asked to lead the Agency, she oversaw the SBA’s $100 billion dollar loan guarantee program as Associate Administrator for SBA’s Office of Capital Access, and served as New England Regional Administrator. Jeanne joined the Obama Administration in 2009 following an 18 years career in commercial banking in Maine. Lisa G. Martin is executive director of the Manufacturers’ Association of Maine and has 20+ years in economic, workforce and business development. Since 1989, Lisa has had extensive experience with businesses, state and federal agencies, education institutes and Maine’s workforce. She leads the effort to build the Manufacturers’ Association as an economically strong industry through partnerships and collaborations with other industries, with state and federal agencies and organizations and within the manufacturing industry.Greg Hastings, SIOR is a Broker and Partner at NAI The Dunham Group. Greg joined the Dunham Group in 1987 and has worked exclusively in the industrial real estate market for 30 years. He is a graduate of Bowdoin College (1983) and the University of Maine School of Law (1987). In 1993, he was the 2nd broker in the state to be awarded the prestigious SIOR designation. He is a past board member of the Boys and Girls Clubs of Greater Portland, the Maine Commercial Association of Realtors and is also a Trustee Emeriti of Waynflete School in Portland.Registering for this Event: MEREDA Members: $45 each | Non-Members: $55 Each Prices increase by $10 After November 27. Your RSVP is requested by November 27. Payment is expected at the time of registration. No refunds will be granted to anyone who registers, but fails to attend or who cancels after November 27.This MEREDA Morning Menu Breakfast Event is Sponsored by Norway Savings Bank and Pepperell Mill Campus. Visit www.mereda.org for more information and to register.

Read Article

« Previous
1
…
26
27
28
29
30
…
49
Next »

MEREDA Blog

Recent Posts

MEREDA’s Morning Menu – MEREDA Welcomes Dr. Habib Dagher, Executive Director, Advanced Structures and Composites Center, UMO

Nominations Now Being Accepted for MEREDA’s 2025 Notable Project Awards

MEREDA Opens Registration for its Annual Forecast Conference

The Right Equation for Responsible Development: Spotlight on Nightingale & State Street Campus Redevelopment (Portland)

Archive

Is the Maine real estate market as hot as it seems?

MEREDA’s Morning Menu Breakfast Event “148 Years in the Making…Maine Medical Center’s $512 Million Expansion Project”

The Future of Buildings

How Drones Are Helping Traditional Industries Take Flight Into the Future

You Can Have It Both Ways: Sound Masking Lets You Have Your Modern Open Office Design and Speech Privacy

Tax Reform and the Real Estate Industry

MEREDA’s Annual Spring Networking Social

MEREDA’s DevelopME’s Lunch & Learn Series “Breaking into Development” Part Three:”Managing Assets for Maximum Value”

No room at the inn; low vacancy rates squeeze urban centers

Maine Real Estate & Development Association (MEREDA) Announces Appointments to Board of Directors

MEREDA’s Morning Menu Breakfast Event “A Presentation by FocusMaine”

MEREDA’s 2018 Annual Real Estate Forecast Conference & Member Showcase

The Right Equation for Responsible Development: Spotlight on Young Street Apartments

Maine Real Estate & Development Association Announces Public Policy Committee Co-Chair

Maureen Van Uden, TD Bank, Elected to the Maine Real Estate & Development Association’s Board of Directors

Maine Real Estate & Development Association’s DevelopME Committee Co-Chairs to Participate on Board of Directors

Less Parking, More Walking (and Reading and Biking and…)

How To: Sublet your way around a commercial real estate shortage

MEREDA’s Morning Menu Breakfast Event “Building for the Future”

MEREDA’s Morning Menu Breakfast Event: Manufacturing in Maine