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

Passive House Pushes [& Seals] The Envelope

November 15, 2016

By Cordelia Pitman, Director of Preconstruction Services for Wright-Ryan ConstructionMultifamily housing projects around the state have contributed to an improvement in construction activity post-recession. Hidden among the number of multifamily ...

By Cordelia Pitman, Director of Preconstruction Services for Wright-Ryan ConstructionMultifamily housing projects around the state have contributed to an improvement in construction activity post-recession. Hidden among the number of multifamily projects, two developments in particular are helping lead an emerging national trend in affordable housing – Passive House. The design standard offers a new path for project teams seeking out ways to build better while providing higher-quality, more affordable options for the communities they serve.Two of the largest commercial Passive House developments in the U.S. are both affordable housing projects. One of those is Village Centre Apartments in Brewer, which added 48 units of much-needed workforce housing to the greater Bangor area in May, 2016. Another project of note in Maine is Bayside Anchor in Portland’s Bayside neighborhood, adding 45 units of mixed-income housing. Both Bayside Anchor, developed by the Portland Housing Authority and Avesta Housing and designed by Kaplan Thompson Architects, and Village Centre, developed by Community Housing of Maine and designed by CWS Architects with sustainability consulting by Thornton Tomasetti, are built to Passive House Institute U.S. (PHIUS) standards, a rigorous design standard which results in ultra-efficient buildings that require little energy for space heating or cooling. Once the exclusive domain of custom home building in the U.S., technically adept developers, designers, and builders are seeing Passive House standards as a way to make affordable housing more affordable. Achieving Passive House certification is all about results. The allowable air tightness limit for Bayside Anchor and Village Centre was 0.05 CFM50/ft2 – an aggressive target. Passive House buildings feature continuous insulation, ensure limited thermal bridging throughout the entire building envelope, and are incredibly airtight to prevent undesirable exchange of interior and exterior air. High performance windows and doors, balanced heat-recovery ventilation, and minimal space-conditioning systems are incorporated to maximize efficiency. Passive House projects also take advantage of solar heat gain, through strategic building siting, and internal heat gain to further reduce dependence on limited systems. Solar exposure is managed through glazing or shading to provide heating benefits in the winter and cooling benefits in the summer. The application of Passive House design and construction principles means lower operating costs for building owners supporting the long-term viability of properties. Village Centre is estimated to be over 60 percent more energy efficient than a code building, with a targeted site energy use intensity of 22 kbtu/sf/yr. These are simply the results that can be achieved within the fixed budget (roughly $139/sq. ft.) defined by the project requirements as a publicly-funded development under the Maine State Housing Authority. Many cases demonstrate that Passive House buildings can offer energy savings from 75% up to 90% when compared with average new buildings or typical building stock. The benefits for residents and other end-users, chiefly comfort and energy efficiency, are even more important. In many cases, the energy savings realized by building owners may be passed on to tenants, with individually metered units and segmented utility bills. The lowest number often rules in the construction industry. It can be far too easy to lose sight of what’s most important – real value and the overall quality of life for the building occupants and end users. The Passive House standard holds up critical human elements of comfort and environment as its top priorities. The growing presence of Passive House work and the increasing knowledge-base in Maine will only serve to benefit our state and its residents as a whole. Cordelia Pitman is Director of Preconstruction Services for Wright-Ryan Construction, a member of the Maine Real Estate & Development Association. For more info go to wright-ryan.com. Wright-Ryan served as the Construction Manager for Village Centre and Bayside Anchor.

Read Article

Maine Real Estate & Development Association Elects Michael Lane to its Board of Directors

November 14, 2016

Michael Lane of Richmond, a partner at Preti Flaherty, has been elected to the board of directors of the Maine Real Estate & Development Association (MEREDA), a statewide organization of ...

Read Article

MEREDA’s Morning Menu: Real Estate Development 202: Housing Development Demystified— A Look Behind the Veil

November 10, 2016

As many Maine communities continue to experience a boom in housing development, public curiosity about the inner workings of the development process has elevated. What’s driving decisions like site selection, target markets, and design choices? Make plans to join MEREDA for breakfast on December 8th at the Portland Regency Hotel in Portland as developers, Jonathan Culley of Redfern Properties and Ethan Boxer-Macomber of Anew Development share their approaches to Housing Development through case studies of recently completed projects.This is the second installment in our development series! We hope you will join MEREDA for what is sure to be a very interactive and informative session. Please come to the event prepared to ask questions!About our Presenters:Jonathan Culley is the owner of Redfern Properties, a Portland-based real estate developer. Redfern focuses on residential and mixed-use developments with an emphasis on infill and other “smart-growth” projects that make neighborhoods and communities more vibrant and sustainable. Recent and current projects include West End Place, Munjoy Heights, 89 Anderson, and 667 Congress.A Maine native, Jonathan founded Redfern upon returning to Portland in 2005 from Seattle, Washington. He holds an A.B. and an M.B.A., both from Duke University.Ethan Boxer-Macomber, LEED AP, 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 as 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).About the Event:December 08, 2016 - 7:30AM to 9:00AMPortland Regency Hotel20 Milk Street Portland, MEBuffet Breakfast: 7:30-8:00 am Program: 8:00-9:00 amRegistering for this Event:Member: $45 pp | Non-Member: $55 pp Prices increase by $10 after December 1Your RSVP is requested by December 1, 2016. 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 1.Visit www.mereda.org for more information and to register.This MEREDA “Morning Menu” Breakfast Event is Sponsored by Norway Savings Bank and PDT Architects.

Read Article

The New-Old Humpty Dumpty

November 8, 2016

Here are 10 trends likely to come amidst a full-circle return to housing finance and economics like it was before homeownership became a policy priority. Humpty Dumpty sat on a ...

Here are 10 trends likely to come amidst a full-circle return to housing finance and economics like it was before homeownership became a policy priority. Humpty Dumpty sat on a wall, Humpty Dumpty had a great fall. All the king's horses and all the king's men Couldn't put Humpty together again. Traditional English Nursery Rhyme One of the advantages of writing occasionally is that one has the opportunity to sit and reflect without the pressure of deadline or expectation. Sometimes waiting for things to “sort out” takes longer than one would imagine. I first started writing the occasional “By George!” articles back in the spring of 2010 in the depths of the housing recession. At the time, I think that all of us knew that it was pretty severe, but there was a belief among many that the pullback, although significant, would still lead back to a housing system that we all knew. At the time, I thought of what we were going through was much like the experience of Humpty Dumpty, where Humpty was the residential housing ecosystem that had evolved over decades. The system had fallen off the wall and the question was what Humpty would look like in the future. It has taken a while, but it now appears that the “new” Humpty is looking more like the Humpty of the 1920s and 1930s, rather than the 2004 version. If so, we are looking at a rollback of nearly 80 years of housing evolution. If one returns to those times, around 40% of households owned a home and 60% rented. It took huge down-payments (40% being somewhat of a norm) in order to purchase a home. Scarce supply of rentals meant that it was not uncommon for large portions of income were dedicated to rent payment. 50% was not uncommon. Renters became caught in the “rent trap” and could not save enough to get a down-payment to buy. Sound like recent newspaper stories to anyone? It was also not uncommon for families to live together multi-generationally out of necessity. Many sources of income from many hands helped to pay for the rent and the food. It is still the norm in much of the world today. Local banks took the savings of the local population and pooled the money that enabled the investment in mortgage loans for those who could buy a home. The bankers knew the borrowers and the borrowers were embedded in the community. If one defaulted, the social stigma and shunning were horrible results and that fear kept the obligations of home ownership and borrowing as nearly sacred objects. The Depression and the 25% unemployment that followed led to the demise of banks, the loss of homes and an inability to rent. The society began to become nomadic. FDR’s policies, including the institution of federal deposit guarantees at banks and agencies to provide direct government lending to borrowers (FHA) were used to help stabilize the system. FDR also saw the need to get people out of the rent trap and began to look at smaller down-payments for purchase as a tool. Home ownership was seen as a key policy goal. It helped to stabilize communities and helped to lift people out of poverty. After World War II, the GI Bill encouraged returning veterans to purchase homes and its success led to the predecessors to FNMA, FHMLC, HUD and the other government sponsored entities and departments created in the 50s, 60s, and 70s. Tax deductibility of mortgage interest and real estate taxes also helped push the ownership and social mobility goals. It is no surprise that the home ownership rate climbed from the 40% level in the 1940’s to its zenith of around 70% at the time of the downturn in 2007. As we all now know, dysfunction became embedded over time in this system and, with the downturn, the inevitable finger pointing, lawsuits, and financial losses have led to a world where the government has a very large share of the mortgage market under its control No bureaucrat wants to be called before Congress for not protecting “our money”, so the result is a much higher credit threshold and fewer people able to purchase under those new rules. The new standards, designed for risk aversion rather than the policy advancement of home ownership, seem to be here to stay for a while. The major banks are only now coming out of the soup, having paid billions in fines and penalties and being made out to be demon whipping boys, sometimes appropriately and sometimes not. It is no surprise to see them retreating from the residential mortgage lending market. Recent announcements from Bank of America and Wells Fargo are the latest evidence of this retreat. With fewer big lenders, what residential mortgage lending that is left is being done by “non-bank” entities, such as Quicken Loans. But with a miniscule securitization market (compared to prior), their scope and capability of lending are also limited. Maybe it will grow. I don’t know. But this seems to be a new norm, too. In the last decade, changes in Federal tax law have somewhat limited the deductibility of mortgage interest and taxes and there continues to be talk of taking away those deductions all together. Piece by piece, this incentive for ownership is drifting away. It is not surprise, then, that since the downturn started, home ownership has reverted into the low 60% range, single family production is at levels lower than 50 years ago when the population was one half of what it is now, and multifamily production is at levels higher than at almost any time in the last 50 years, too. The countervailing force of money and lobbying that kept housing policy and home ownership on the upper reaches of the federal policy agenda became severely diminished in the downturn, also. Health care, defense, and social safety net policy now seem to have all of the attention and the lobbying dollars to back it up. In the new world, no money means no seat at the table. This has come into full view in the primary debates as housing policy is almost totally absent, despite unconscionable homelessness and the angst of a whole generation about how and where they are going to live. The new Humpty Dumpty is looking like his great-grandfather in the 1930s, unfortunately. If this is the new reality that we are going to be dealing with, what does it mean for housing strategy? First, as I first proposed back in 2010, single-family homes for rent are going to be with us in a greater proportion than we have been used to. Lennar and others have dabbled in the new single family for rent business, but it is a sideline. New companies such as Higley Homes in Phoenix are making it their primary business model. Look for more. Second, even though it will continue to grow at 10-15% per year, single-family production will still be smaller than we need or what we have been used to for longer than we would like to think. Expect large public and privates to have a larger portion of a smaller market than before and for their margins to be underwhelming. Competing with those builders on commodity single family homes that do not look markedly different than those built in the past 30 years will be the business equivalent of sword-fighting with Zorro. Third, I think that stagnant incomes and tough underwriting standards will mean that multifamily building will continue to be important. Even more important, though, will be attacking niches: homes for single person households and multigenerational households are two that come to mind. These are product types that the new demographic need and production over the past three to five decades has not provided. Supply-demand says that there is more shot at a better than commodity margin here. Fourth, look for new financing types to emerge. Some will fail and some will grow, but look for the innovation. Private funding deals for individual communities are one. Shared equity lending to borrowers who do not fit the government underwriting box are another. Fifth, look for non-industry players to come in and drive the innovation. The Waypoint Homes folks who were one of the roll-ups of foreclosed homes for rent came from outside of the industry, as have the Higley Homes owners. Quicken, an accounting software company, saw the opportunity in replacing banks in mortgage lending and took it. Sixth, we are seeing urban infill and mixed use projects being where both millennials (before kids) and empty nesters would like to be. It will continue. In the process, we will be getting back to more urban neighborhoods (like prior to the end of WWII and the start of suburbanization). Seventh, expect that housing will not get back to any kind of national priority in terms of policy support for a while. There will be local angst on unaffordable housing and calls for inclusionary zoning and rent control in the vacuum. All will make land both more and less valuable. Eighth, existing housing stock will become more valuable and will be densified where it can be. I don’t know, but McMansions might be chopped up into condos or apartments. In-law, granny-flat, or AirBnB additions will be created when they can on existing houses. All of this means that there will be a lot of remodeling and renovation work, opening up opportunities for the roll-up of what are now mom and pop businesses by entrepreneurs. Ninth, expect to see community velocity to become ever-more important. By including more demographic slices in a community, as well as both for-sale and for-rent product simultaneously, velocities will triple or quadruple. Tenth, expect that the old project underwriting standard will have to address stagnating selling prices and increasing costs. Diversification of product and velocity will help to alleviate this. Projects that cannot easily be diversified will be at a disadvantage. Builders with such inflexible land on their books right now might have an over-valued asset. If the past 8 to 10 years have shown us anything, Humpty Dumpty is not going to be like he was for the past 50 years and we better get used to it and figure out how our population houses itself in this new reality that looks a lot like a very old reality. But in that is opportunity for those who have the courage and foresight to innovate and look the new-old Humpty Dumpty square in the eye. Originally published in Builder Online on March 7, 2016 http://www.builderonline.com/builder-100/strategy/the-new-old-humpty-dumpty_o

Read Article

When Generations Collide

October 25, 2016

By Dean Strombom, Principal, Gensler, Houston, TX This is the first time in history when five generations of employees may co-exist in the workplace: the Silent Generation, Baby Boomers, Gen X, Millennials or Gen Y, and Gen Z. At the same time, older employees are delaying retirement while Gen Z, the generation we know the least about, is making their first appearance in the workplace. Talkin’ ‘Bout Your Generation The Internet and bookstores are full of writings by psychologists, sociologists, and human resource specialists about the differences between the generations. According to them, The Silent Generation likes stability and order and hates to take risks. Baby Boomers are ambitious and materialistic. Gen X is self-reliant and cynical. Millennials are self-confident and achievement-oriented. And, Gen Z is tech-dependent and big on multi-tasking. The problem with such generalizations is that there are always those that don’t fit neatly into a category. Instead of putting people in boxes, the new workplace can break down hierarchies, encourage collaboration and communication, and instill a shared sense of purpose and promise. Today’s savvy CEO should understand potential communication, work-style, and motivational differences that may exist between employee populations, but focus on creating a work environment that will keep all employees happy, productive and healthy. Harping on generational differences just preserves stereotypes and creates division. Instead, the focus should be on building common ground that gives all employees a choice in how and where they want to work, and in adding elements to the workplace that make everyone feel valued and part of a larger whole. How Design Can Help Research on the dynamics of the workplace points out that only one in four U.S. workers feels they are currently in an optimal workplace environment. There are 10 design factors that can increase employee engagement: activity, ergonomics, air quality, lighting, restorative environments, acoustics, nature, nutrition, user control and motivators. Let’s talk about acoustics for a moment. All human beings with normal hearing are distracted by noise. Noise is one of the reasons older workers have clung to private offices. But, even in a 100 percent open work environment, designers can plan to minimize noise. They can locate workstations away from major gathering areas. They can improve HVAC acoustic performance. They can provide quiet zones for focus work. They can include sound-absorbing ceiling panels and fabrics. Workers that grew up plugged in to earbuds and headphones may opt to add those to handle distraction, but a good design can largely mitigate this issue. All workers want to feel part of a company that they can be proud of – one with products, goals, and aspirations they think are worthy. Adding branding elements into the workplace that underscores corporate goals and improves employee engagement creates a sense of place that is distinct and meaningful. The experts say a branded workplace is particularly important to Millennials, but the argument could be made that this is a universal human need that spans the generations. Creating Places Where People Meet Another big differentiator in employee engagement and success is communication. The generations may differ in the way they communicate – face-to-face, email, Snapchat – but all effective workplaces are environments that support the free-flowing exchange of information. The best offices have intersections where people meet informally. Great workplace designs encourage people to get up from their desks and move around. They also provide the technical infrastructure to enable people to work where, when and with whom they need to, seamlessly. Much of the tension between the generations can be dissipated by talking to each other. Intersection and interaction are important. Creating a more transparent workplace where people can see the work of other teams, experience different jobs within the organization, and have access to mentors of all ages adds a layer of richness and connection to the environment. It also encourages continuous learning and development. Creating a strong corporate culture valuing individual and team accomplishments, providing employees with a healthful work environment offering group and individual work areas, and embracing cultural and generational diversity will boost employee engagement, profit, and employee retention. Dean Strombom is a Practice Area Leader in Energy and Landlord Services in the Houston office of Gensler, where he leads the planning and design of corporate campuses, commercial office buildings, workplace interiors and mixed-use developments. Dean is on the advisory board of the University of Houston Graduate School of Real Estate at the Bauer College of Business. Dean Strombom was also a presenter on this topic at MEREDA's 2016 Spring Conference. Original article published on April 16, 2016 in Texas CEO Magazine. http://texasceomagazine.com/departments/when-generations-collide/

Read Article

Morning Menu Breakfast Event: Sustainable Stormwater Infrastructure = Sustainable Growth Perspectives on Stormwater Service Fee Programs and Credits

October 13, 2016

With each passing year, cities and towns are faced with increased requirements, under the federal Clean Water Act, to protect and restore water quality in our streams, rivers, lakes and ...

With each passing year, cities and towns are faced with increased requirements, under the federal Clean Water Act, to protect and restore water quality in our streams, rivers, lakes and coastal waters. These mandates require communities to ensure they appropriately operate and maintain stormwater public drainage systems that collect, store, treat, and discharge stormwater runoff in order to reduce water pollution. They must also encourage and require that property owners reduce their impacts on water quality. All while accommodating growth and development, which may require an expansion of the public stormwater management system. The future sustainability of these public systems depends on a steady stream of revenue, which more equitably shares the costs of stormwater management and pollution prevention by tying them directly to the sources of stormwater runoff and pollution. So in response, a stormwater service charge program has been implemented by the City of Portland, similar to other municipalities, in order to fund the required upgrades and on-going maintenance of its stormwater management systems and water quality programs.Stormwater utilities or service fees are often based on a property’s impervious area and can become substantial for property owners with large building footprints and parking lots. But many municipalities offer credit programs that can reduce the amount a property owner has to pay, providing they implement and maintain stormwater management and pollution prevention systems that reduce the community’s overall cost of meeting its Clean Water Act obligations. This panel discussion will focus on the City of Portland Stormwater Service Charge – why it is needed by the City and what measures property owners can take to qualify for credits. Participants will also learn what fees/credits other municipalities in Maine such as Bangor and Lewiston, and in other areas of the United States have implemented and/or are planning, and hear first-hand how property owners have successfully improved the quality of their stormwater runoff while reducing their stormwater service bills.Meet our Presenters: Scott Collins: Managing Principal and Senior Engineer at St.Germain Collins Brian DesMarais: Environmental Protection Manager at Waste Management Doug Roncarati: Stormwater Program Coordinator with the City of Portland About the Event:November 10, 2016 – 7:30AM to 9:00AMDoubleTree by Hilton Hotel363 Maine Mall RoadSouth Portland, MEBuffet Breakfast: 7:30-8:00 amProgram: 8:00-9:00 amRegistering for this Event:Member: $45 pp | Non-Member: $55 pp Prices increase by $10 after November 3Your RSVP is requested by November 3, 2016. 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 3. Visit www.mereda.org for more information and to register.This MEREDA “Morning Menu” Breakfast Event is Sponsored by Norway Savings Bank and St. Germain Collins

Read Article

The Right Equation for Responsible Development: Spotlight on Pepperell Mill Campus

October 11, 2016

In the fifth of a 6-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 ...

In the fifth of a 6-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 Pepperell Mill Campus. A conversation with Doug Sanford. MEREDA: Describe the building and project. Doug Sanford: The Pepperell Mill Campus is a large mixed-use complex formally used for textile manufacturing. The property sits on a 16-acre site on the banks of the Saco River falls, and is also in the heart of downtown Biddeford. The campus includes 16 buildings with 1.1 million square feet of interior space. The goal is to redevelop and repurpose the mills. To date 550,000 sf of space has been built out and leased to a broad number of mixes uses. 120 businesses lease at the mill and 100 apartments are home to 180 people. 500 people either live or work on campus. MEREDA: What was the impetus for this project? Doug Sanford: Opportunity and vision. The development team purchased the former Biddeford Textile complex in 2004, and then made the larger purchase of the rest of the mill complex in 2010. This created the potential to develop a fully integrated campus of complimentary mixed uses and residences. The vision of creating a campus came to shape with the opportunity to purchase a 1.1 million square foot fully connected mill complex. MEREDA: That sounds like quite a process. How long were you in the planning stages before construction started? Doug Sanford: From the first phase purchase date in 2004 it took 12 months to create a preliminary plan to commence work on the project. Architectural plans, municipal approvals, state approvals, permitting and financing were secured and the project was on. It is interesting to note that we purposely did not spend an extended period of time and expense with a “master planning” process. It was the development team’s opinion that the project needed to prove itself quickly and create tangible results. So, once approvals were obtained for a broad set of tenant uses, construction commenced. It was that early momentum that carried the project through the troubled economy of 2008 – 2011. Once the project was well on its way, the clear path of master planning was established. MEREDA: Tell us about the most challenging aspect of getting this project completed. Doug Sanford: During the early stages of the project the most challenging aspect was financing. It took a local bank, with a philosophy of investing in community redevelopment, to allow for the purchase funding and early build out funding of the project. Thank you Saco and Biddeford Savings! The next set of challenges centered on growing pains. To transform from the purchase of a vast amount of vacant interior space, into a management team to handle the day to day operations of 120 businesses and 100 residents, was no easy task. As a management company we had to quickly ramp up in size and put into place systems to handle the job at hand. MEREDA: Something unexpected you learned along the way was…. Doug Sanford: Politics and public relations became part of the job of developing such a large project. We started the project as a construction and property management company. Now we handle marketing, manage a web site and spend a lot of time interfacing with our host municipality. To have a healthy and constructive relationship with your host city is important. It allows for a public / private collaboration on initiatives that benefit all involved. MEREDA: Now that it’s complete, what feature of the project do you think makes it the most notable? Doug Sanford: The project is not yet complete, but it’s well on its way. The most notable feature is that the Pepperell Mill Campus and the North Dam Mill development have almost single handedly created the environment for the renaissance of downtown Biddeford. The city and area had become an economic victim of the declining textile mill industry. The redevelopment of the mill’s vacant space paved the way for Biddeford’s economic recovery. Numerous other real estate projects and municipal investments have followed. This is an exciting time for Biddeford / Saco!

Read Article

OSHA Provides Final Rule on Silicia – Major Changes Likely Ahead for the Construction Industry

October 4, 2016

On March 24, 2016, the Occupational Safety and Health Administration issued its final rule on crystalline silica. As many know, everyone has been waiting for this OSHA final rule on ...

On March 24, 2016, the Occupational Safety and Health Administration issued its final rule on crystalline silica. As many know, everyone has been waiting for this OSHA final rule on silica to come out, and now major portions of the construction industry will have to grapple with it. The new rule will have consequences for the construction industry going forward, and measures that will have to be put in place during the next year for construction companies. The construction attorneys at Bernstein Shur are studying the rule and its implications and will assist clients through the upcoming compliance process. Crystalline silica is a common mineral that is found in materials that we see every days in roads, buildings and sidewalks. It is a common component of sand, stone, concrete, brick, block and mortar. Silica exposure can occur from construction activities such as cutting, sawing, drilling, and crushing of concrete, brick, block, rock and stone products and operations that use sand products such as sand blasting and hydraulic fracturing. Silica also is carcinogenic and has been linked to silicosis, lung cancer and kidney disease. OSHA acted to change silica exposure limits that had been in place for over 40 years and were based on research from the 1960s. OSHA estimated that currently, more than 840,000 construction workers are exposed annually to unreasonable levels of silica. The new rule sets a permissible exposure limit that exposure to airborne crystalline silica cannot exceed 50 micrograms per cubic meter of air for an average eight hour day. The new rule could impact between half a million and a million workplaces and will require employers in a broad range of industries, including construction, to put in place new procedures to reduce the possible exposure of workers to silica. Employers also are going to have additional obligations in complying with the final rule. For instance, they will have to implement procedures so that the silica amounts can be measured to determine if the 50 PEL limit is being hit. Companies will have to ensure that work practices exist such that silica dust is wetted down or vacuumed up before workers can breathe it in. Additionally, companies will have to develop a written exposure control plan, train workers on silica’s dangers and how to limit exposure to silica. Under certain circumstances, employers may have to offer continuing medical exams, such as chest x-rays and lung function tests, to those workers who are exposed to silica. Each company will have to have a competent person who implements the written exposure control plan. Finally, employers may also have to provide workers with respirators or limit work areas where there is a potential high exposure of silica. OSHA’s estimate is that the new rule will cost $511 million each year on the implementation cost just for the construction industry. Employers, of course, believe that the cost may be much greater than OSHA’s estimate. Construction employers must comply with the requirements of the final rule by June 23, 2017, except for requirements for laboratory evaluation of samples, which begin on June 23, 2018. That means that only one construction season exists before implementation must occur. Original article published on April 26, 2016 in The Construction Advantage, http://www.bernsteinshur.com/what/publications/the-construction-advantage-7/#ledcor

Read Article

MEREDA Hosts Annual Fall Networking Social on Portland’s Waterfront

September 27, 2016

Another great "meet-and-greet" opportunity, this time on Portland's Waterfront, the Maine Real Estate & Development Association (MEREDA) hosts its highly-anticipated Annual Fall Social on October 20th! MEREDA's networking events attract ...

Read Article

How Technology is Disrupting Real Estate

September 27, 2016

Commercial real estate has historically relied upon in-person interaction to get things done, but an influx of new technology is transforming the space. Now, transactions, updates, searching and more can all be done with a few taps on your phone, from anywhere in the world. This shift is radically altering how commercial real estate brokers and landlords approach properties and handle data. “We’re in the middle of a complete sea change in terms of how tech is transforming how we access data and how we, as professionals, get access to data and lower the cost of that access,” says Brandon Weber, CEO of Hightower, a leasing management software company. There are five major areas of opportunity for tech to disrupt real estate, SoftBank Capital partner Josh Guttman (who has invested in real estate tech) wrote in TechCrunch last year. Aside from mobile apps, areas like property management, research and analytics, listing services and residential and commercial lending can be reconfigured, all thanks to technology. Property management software allows owners and management companies to track their assets. With property management software adoption around the 10 percent mark as of last year, according to Hightower’s Weber, a lot of opportunity remains. With municipalities allowing more access to their data than ever before, developers are altering how the data can be used, with analytics software being used on an on-demand basis. The regulatory environment is also helping push tech further into the space. Thanks to new regulations, there are now opportunities for tech to play a role in real estate lending. ONE-STOP SHOP Not only is the proliferation of smart devices dramatically shifting the landscape for real estate, but there’s also a “one-stop-shop” mentality altering the scene. Hightower has developed a cloud-based platform for commercial real estate landlords and brokers to analyze, track and manage various properties in real time. The platform allows landlords to manage their deal pipeline, run financial analysis, and track performance relative to a benchmark, among several other features—all while integrating it with the landlord’s property management system. “Before Hightower, you’d have to go to 20 different places to find all these answers, and then get the answers in a day or two,” Weber says of his company. “Landlords like it because it’s not only saving hundreds of hours a month on reporting, but they see it helping them reduce their risk in real time because of the data.” BIG OPPORTUNITIES Most real estate tech companies seem focused on improving the efficiency conundrum. Renters may be contacting more people than they need, with landlords suffering from the same issue. With real estate being one of the largest expenditures in business, money is flowing into the space hand over fist. In 2015, nearly $1.5 billion of venture capital money entered into real estate tech companies, up from $1 billion in 2014, according to research firm CB Insights. Continued advancements in global positioning systems, and especially map-based search, have aided the process. “[Map-based search] puts it into context where someone is going,” Zillow’s vice president of rentals Dan Hang says. Data mining and targeting has become much easier in real estate over the past several years, with terabytes of data now available. Residential renters can now give information, such as income, credit score, number of family members and pets, much earlier in the process than in years past. This may result in the landlord getting fewer leads, Hang notes, but “higher quality leads.” There are around 10 million people who move into a new rental every year on the consumer side, Hang says, with more changing spaces commercially, thanks to 2.7 million jobs being added last year, according to a white paper from the National Association of Realtors. Technology has radically altered how easy it is to access data—the lifeblood of the industry—with broader implications down the line. “We’re in the first inning of this [commercial real estate] ballgame and it’s really going to get interesting over the next 12 months as these companies hit scale,” Weber says. “Now, everyone has access to every piece of data they care about in the palm of their hand, which I think will not only change the speed of the industry, but how it reacts to things, and can alter the analysis on how we buy and sell as well.” Article originally published on May 27, 2016 - https://blueprint.cbre.com/how-technology-is-disrupting-real-estate/#prclt-gE52353V “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

The Right Equation for Responsible Development: Spotlight on The Mill at Dover-Foxcroft

September 13, 2016

In the fourth of a 6-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 ...

In the fourth of a 6-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 The Mill at Dover-Foxcroft. A conversation with Arnold Development Group. MEREDA: Describe the building and project. Arnold Development Group: The Mill at Dover-Foxcroft, is a 60,000 sf historic complex that has been renovated to include housing, office space, data center, cafe and inn. The complex is located in the heart of Dover-Foxcroft and each building of the historic complex featured a different construction material from different eras with the Piscataquis River wrapping around 2 sides of the building. MEREDA: What was the impetus for this project? Arnold Development Group: We first discovered the buildings on a recreational visit to the area and asked to be included in the RFP process being conducted by the town of Dover-Foxcroft. Our vision to the proposal aligned perfectly with the town’s vision and the collaboration began. We worked closely to support the efforts of the Town, PCEDC and CEI to identify programs to make the project financially viable. MEREDA: That sounds like quite a process. How long were you in the planning stages before construction started? Arnold Development Group: The planning process lasted 5 years and the construction lasted 1 year. MEREDA: Tell us about the most challenging aspect of getting this project completed. Arnold Development Group: The coordination between the various financing programs and entities utilized to complete the renovation was particularly challenging from a scheduling perspective. The installation of the geo-thermal system along the river in the dead of winter presented some hurdles to overcome. The replacement of 427 windows to meet the State and Federal Historic Requirements was challenging, but the views to the Piscataquis River was a suitable reward. The actual building construction process went very smoothly due to the expertise of Wright-Ryan Construction, and under the field supervision of Dave Sickles. MEREDA: Something unexpected you learned along the way was…. Arnold Development Group: All of the apartments were leased before construction was finished, which was a real validation of the need for quality housing in walk-able rural neighborhoods. The support we received from the town and the residents of Dover-Foxcroft provided us the motivation to see the project through to the end. MEREDA: Now that it’s complete, what feature of the project do you think makes it the most notable? Arnold Development Group: Prior to construction, when you arrived in downtown Dover-Foxcroft there were looming empty buildings with broken windows that hailed to a previous era of prosperity. Now when you arrive downtown the complex is bustling with activity, year round residents, new business being launched and an inviting inn and cafe overlooking the gorgeous river. It is an honor to work on a single project that has such a positive effect on an entire community.

Read Article

Morning Menu Breakfast Event – Complete Streets: Can We Drive, Walk, and Bike in Harmony?

September 7, 2016

Narrowed vehicle lanes, "Share the Road" signage, multi-use paths, traffic calming, flashing pedestrian crossings - have you heard these terms and wonder what it means here in Maine and the ...

Narrowed vehicle lanes, "Share the Road" signage, multi-use paths, traffic calming, flashing pedestrian crossings - have you heard these terms and wonder what it means here in Maine and the Bangor region?Join the Maine Real Estate & Development Association (MEREDA) for breakfast on October 4, 2016 from 7:30 – 9:00 AM at the Hollywood Casino Bangor to hear from experts on how the "Complete Streets" doctrine is being implemented statewide and in the Bangor Region to balance transportation needs of our community.About our Presenters:Kierie Piccininni is a Bangor resident and an advocate for safer walking and cycling. She spent ten years commuting by bicycle in two high-profile Complete Street cities, San Francisco and New York. She moved here to stay close to a friend who suffered a traumatic brain injury due to a bicycle-car collision. That experience developed her interest in advocacy for cyclists, pedestrians, and equal accessibility for vulnerable users. She joined the Bicycle Coalition of Maine’s Community Spokes program in 2014, then organized Bangor's safety advisory committee, Walk-n-Roll. Kierie serves on the board of the Bicycle Coalition of Maine and the City of Bangor Commission on Cultural Development, and she is a manager at Winterport Boot Shop. Bradford Foley has worked for the Maine Department of Transportation for more than 25 years. He is currently the Highway Program Manager tasked with oversight of the design and construction of Maine’s roadways. Prior to that, he served as Director of the Safety Office. In that position he directed and coordinated all safety activities, initiatives, and programs within the Department to achieve meaningful safety improvements to Maine’s Transportation Systems. Previously, within the Department, Brad worked as a Designer and Project Manager on numerous projects, as well as a Consultant Coordinator overseeing the design efforts of outside consultants. He is a graduate of the University of Vermont with a Bachelor’s Degree in Civil Engineering and is registered as a PE in the state of Maine.About the Event:October 04, 2016 - 7:30AM to 9:00AM Hollywood Casino Bangor 500 Main Street Bangor, MEBuffet Breakfast: 7:30-8:00 am Program: 8:00-9:00 amRegistering for this Event:Member: $25 pp | Non-Member: $35 pp Prices increase by $10 after September 29th Your RSVP is requested by September 29, 2016. 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 September 29th. Visit www.mereda.org for more information and to register.This MEREDA “Morning Menu” Breakfast Event is Sponsored by Bangor Savings Bank, Eaton Peabody and Webber Group.

Read Article

The Art of the Donald | Presidential primary politics as a real estate development deal?

September 6, 2016

Like most of you, I suspect, I have just been shaking my head at what has been going on this Presidential Primary season. As the group Three Dog Night sang ...

Like most of you, I suspect, I have just been shaking my head at what has been going on this Presidential Primary season. As the group Three Dog Night sang in the 1970s tune “Momma Told Me Not to Come”: “This is the craziest party that could ever be Don't turn on the lights 'cause I don't wanna see…… I seen so many things I ain't never seen before Don't know what it is--I don't wanna see no more” Also, like many of you, I have been staring in raw fascination at Donald Trump’s campaign and many of the statements and actions that seem to be both designed to garner headlines and to just raise the hackles of specific demographic segments and, almost always, the Republican establishment. My first reaction was to question why someone would do these things and think that they could somehow cobble together a coalition to win not only the primary, but the general election. Needless to say, the Republican establishment seems to be sweating bullets and divining esoteric strategies to derail the Trump Express in fear that in the general election the TE could cause the loss of the Senate, deplete a majority in the House and cause the loss of a conservative majority on the Supreme Court for a generation. Hoards of locusts look better than this. But, in a recent CNN article, I noticed a discussion about how fuzzy the laws are regarding being able to buy-off delegates to a political convention. It seems that almost anything goes and, although not perfectly legal, it seems like it is not overtly illegal, either. That got me thinking about the race from a different perspective. That of a real estate developer. I am not saying that what I am about to postulate is what is going to happen; only that with a new perspective it could. Hear me out and think about it. In real estate development, we try to generate value by creating something that is worth more than we have into the deal. In an entitlement deal, we try to option a property, without really owning it, for as little as possible and then set out spending money to attain an entitlement to build something on the property. If that entitlement is attained, usually the property is worth more than its costs and value is generated. At that point, the developer has the option of flipping the deal and realizing a profit or continuing on to a development phase, where more money is spent and hopefully even more value is developed. Again, in development, the project sponsor has the ability to flip what they have or to continue into the phase of actually building the vertical building(s), at which there is another opportunity to sell the asset again and realize more value. As a real estate developer, Trump has done all of these things at one time or another. Politicians, however, are driven by a combination of ego and desire for power. The pursuit of popular acclamation by winning and the ability to exercise power are goals in themselves. The fact that there may be future economic value after the holding of office (lobbying or giving six figure speeches to investment banks, included) I am sure plays in the equation, but is usually not primary. But, what if a seasoned developer looked at the primary process as a development deal? If you are able to collect 1237 delegates, you attain an “entitlement”: to be able to be the party’s candidate for the presidency. Just like in development, money has to be spent to attain the entitlement. If you can use other people’s money (campaign contributions and free media attention) rather than your own, all the better. Just like positive value can be created (something that a lot of people want and are willing to pay for in an amount greater than your cost), negative value can be created also. Think gaining an entitlement for a pig farm next to a high-end subdivision. What would the residents pay you to just get out or convert it to open space or…whatever! You want to protect YOUR asset and the value you are willing to pay to get rid of the nuisance bears little resemblance to the inherent value of that other use. If one imagines a developer with a deal background looking at the current terrain, the phrase “Buy me out!” starts looking like it could be considered at several stages of the “entitlement”: Don’t quite have the 1237 by convention time? Go to the establishment money players and ask the Buy Me Out question. Maybe they would pay hundreds of millions to have you withdraw and free the delegates. That way the convention could be manipulated into a consensus candidate and Trump could walk away with one of the biggest deals of his career monetarily. Of course, ego would have to subvert to pecuniary interest, which is not at all out of the question. Have the 1237 at convention time? Maybe the price goes up even more? Have the nomination? This is where it really gets interesting. I don’t know what the rules are for a nominee who pulls out of a race after attaining the nomination? In recent memory, only George McGovern’s VP in the 1972 race, Sen. Thomas Eagleton, withdrew after just a few weeks due to discovery of treatment for depression a decade prior. The party chose his replacement. How replacing a presidential candidate between nomination and the election would play out is totally unknown territory. But, the price for Buy Me Out could skyrocket initially, as the chance to salvage the undercard would still be a possibility. Maybe billions at this point? Of course, once the full fall campaigning starts, the value of a buy out drops precipitously, particularly if the polls show a sure weak hand and the time for salvage dissipates. A smart real estate developer would make a gut call on the risks and rewards of whether to monetize the value they have created and when. As I said at the start, I don’t know whether any of this could happen. But, as a long time developer, one has to appreciate the art of creating potential value (primarily the negative kind that people will pay for to remove your project) with very little of your own money at risk. This could be the deal of a lifetime and a first to recognize that politics and business have more in common than most realize. And it would be HUUUUGE! Originally published in Builder Online on April 18, 2016 http://www.builderonline.com/builder-100/strategy/the-art-of-the-donald_o

Read Article

The Art of the Donald | Presidential primary politics as a real estate development deal?

September 6, 2016

by George Casey, CEO of Stockbridge Associates, LLCLike most of you, I suspect, I have just been shaking my head at what has been going on this Presidential Primary season.As ...

by George Casey, CEO of Stockbridge Associates, LLCLike most of you, I suspect, I have just been shaking my head at what has been going on this Presidential Primary season.As the group Three Dog Night sang in the 1970s tune “Momma Told Me Not to Come”: “This is the craziest party that could ever be Don't turn on the lights 'cause I don't wanna see…… I seen so many things I ain't never seen before Don't know what it is--I don't wanna see no more” Also, like many of you, I have been staring in raw fascination at Donald Trump’s campaign and many of the statements and actions that seem to be both designed to garner headlines and to just raise the hackles of specific demographic segments and, almost always, the Republican establishment. My first reaction was to question why someone would do these things and think that they could somehow cobble together a coalition to win not only the primary, but the general election. Needless to say, the Republican establishment seems to be sweating bullets and divining esoteric strategies to derail the Trump Express in fear that in the general election the TE could cause the loss of the Senate, deplete a majority in the House and cause the loss of a conservative majority on the Supreme Court for a generation. Hoards of locusts look better than this. But, in a recent CNN article, I noticed a discussion about how fuzzy the laws are regarding being able to buy-off delegates to a political convention. It seems that almost anything goes and, although not perfectly legal, it seems like it is not overtly illegal, either. That got me thinking about the race from a different perspective. That of a real estate developer. I am not saying that what I am about to postulate is what is going to happen; only that with a new perspective it could. Hear me out and think about it. In real estate development, we try to generate value by creating something that is worth more than we have into the deal. In an entitlement deal, we try to option a property, without really owning it, for as little as possible and then set out spending money to attain an entitlement to build something on the property. If that entitlement is attained, usually the property is worth more than its costs and value is generated. At that point, the developer has the option of flipping the deal and realizing a profit or continuing on to a development phase, where more money is spent and hopefully even more value is developed. Again, in development, the project sponsor has the ability to flip what they have or to continue into the phase of actually building the vertical building(s), at which there is another opportunity to sell the asset again and realize more value. As a real estate developer, Trump has done all of these things at one time or another. Politicians, however, are driven by a combination of ego and desire for power. The pursuit of popular acclamation by winning and the ability to exercise power are goals in themselves. The fact that there may be future economic value after the holding of office (lobbying or giving six figure speeches to investment banks, included) I am sure plays in the equation, but is usually not primary. But, what if a seasoned developer looked at the primary process as a development deal? If you are able to collect 1237 delegates, you attain an “entitlement”: to be able to be the party’s candidate for the presidency. Just like in development, money has to be spent to attain the entitlement. If you can use other people’s money (campaign contributions and free media attention) rather than your own, all the better. Just like positive value can be created (something that a lot of people want and are willing to pay for in an amount greater than your cost), negative value can be created also. Think gaining an entitlement for a pig farm next to a high-end subdivision. What would the residents pay you to just get out or convert it to open space or…whatever! You want to protect YOUR asset and the value you are willing to pay to get rid of the nuisance bears little resemblance to the inherent value of that other use. If one imagines a developer with a deal background looking at the current terrain, the phrase “Buy me out!” starts looking like it could be considered at several stages of the “entitlement”: Don’t quite have the 1237 by convention time? Go to the establishment money players and ask the Buy Me Out question. Maybe they would pay hundreds of millions to have you withdraw and free the delegates. That way the convention could be manipulated into a consensus candidate and Trump could walk away with one of the biggest deals of his career monetarily. Of course, ego would have to subvert to pecuniary interest, which is not at all out of the question. Have the 1237 at convention time? Maybe the price goes up even more? Have the nomination? This is where it really gets interesting. I don’t know what the rules are for a nominee who pulls out of a race after attaining the nomination? In recent memory, only George McGovern’s VP in the 1972 race, Sen. Thomas Eagleton, withdrew after just a few weeks due to discovery of treatment for depression a decade prior. The party chose his replacement. How replacing a presidential candidate between nomination and the election would play out is totally unknown territory. But, the price for Buy Me Out could skyrocket initially, as the chance to salvage the undercard would still be a possibility. Maybe billions at this point? Of course, once the full fall campaigning starts, the value of a buy out drops precipitously, particularly if the polls show a sure weak hand and the time for salvage dissipates. A smart real estate developer would make a gut call on the risks and rewards of whether to monetize the value they have created and when. As I said at the start, I don’t know whether any of this could happen. But, as a long time developer, one has to appreciate the art of creating potential value (primarily the negative kind that people will pay for to remove your project) with very little of your own money at risk. This could be the deal of a lifetime and a first to recognize that politics and business have more in common than most realize. And it would be HUUUUGE!

Read Article

How the New Overtime Regulations Will Affect the Real Estate Industry

August 23, 2016

By now, you’ve likely heard about the Department of Labor’s changes to the federal overtime regulations that will take effect on December 1, 2016. The new rule applies to exempt ...

By now, you’ve likely heard about the Department of Labor’s changes to the federal overtime regulations that will take effect on December 1, 2016. The new rule applies to exempt employees and more than doubles the salary basis required to classify an employee as exempt. Real estate professionals may have paid the update little attention, as so many real estate salespeople work as independent contractors, but it is important to recognize how this change will affect other individuals involved in the real estate business including managers, receptionists, and assistants. Independent Contractor Misconceptions You cannot simply label an individual as in independent contractor in order to protect your company from the expenses associated with employees. A specific set of facts must be analyzed (under both state and federal law) to determine the appropriate classification of an individual. Accordingly, if you have assumed this change is inapplicable because you only have “independent contractors” on staff, an in-depth analysis of your business model is likely necessary to confirm appropriate classification. Further, your support staff likely will not qualify as independent contractors under either state or federal law, so even if your agents are independent contractors, others in your organization may be affected by this change. Support Staff Exemptions It’s important to look at how you are currently classifying your support staff—are they exempt or non-exempt employees? These terms are often used interchangeably with the terms “salary” and “hourly;” the terms do not, however, have the same meaning. While “salary” and “hourly” denote a payment structure, “exempt” and “non-exempt” are legal categories for which an analysis must be done to determine whether, under state and federal law, an individual is entitled to overtime for hours worked in excess of 40 per week. Generally, all employees are entitled to payment of overtime wages at a rate of time and a half for all hours worked in excess of 40 in a week, unless the individual falls within an exemption to the overtime rules. In the real estate industry, the two most common exemptions are the administrative and executive exemptions. Currently, to qualify for the executive exemption the employee must (1) be compensated at a rate of at least $455 per week; (2) be managing a recognized department or subdivision of the enterprise; (3) direct the work of at least two or more full-time employees or their equivalent; and (4) have the authority to hire and fire other employees or have a strong influence on those decisions. To qualify as an administrative exempt employee, currently the employee must: (1) be compensated at a rate of at least $455 per week; (2) have primary work duties that require office or non-manual work directly related to the management or general business operations of the employer; and (3) exercise discretion and independent judgment with respect to matters of significance. DOL Salary-Level Update The overtime changes raise the weekly compensation rate required to qualify for exemption from $455 per week to $913 per week (or from $23,660 per year to $47,476 per year). The “duties test,” however, will not change at this time. The rule permits employers to use non-discretionary bonuses or commissions to satisfy up to 10% the $913 per week figure, but certain conditions must be met to do so. In determining your best course of action in response to these changes, the first step is to identify any exempt employees who are currently making less than $47,476 per year ($913 per week). Next, evaluate whether they are appropriately classified as exempt in the first place. Did you perform the appropriate analysis when you originally created the position or speak to an employment attorney regarding classification? If not, this is the time to have that conversation with an attorney. Once you are sure an employee is properly classified, but is currently making less than $47,476, begin to consider your options to be in compliance with the law on December 1, 2016. Is it financially feasible to simply increase the employee’s salary to $47,476? Does the employee regularly work more than 40 hours per week? If not, changing them to a non-exempt hourly employee may make sense. Beware, however, of the cultural and morale issues that could surround such a change. If the employee is reclassified as non-exempt, you should also consider whether the employee travels often or works through electronic means on nights and weekends. If that is the case, be sure to review what time is included in “compensable time.” Very few industries will find themselves unaffected by these changes, and the real estate industry is no exception.

Read Article

MEREDA’s Annual Lewiston/Auburn Fall Networking Social

August 22, 2016

After the summer break, make plans to join MEREDA at Baxter Brewing Co. in Lewiston on September 22 from 5-7 pm for its Annual L/A Fall Social. Located in the ...

Read Article

MEREDA’s Year in Review 2015 -2016

August 16, 2016

Since its inception, MEREDA has continued to make progress on behalf of the development community addressing the challenges and issues relating to Maine's real estate activities. MEREDA's strength has always come from the support and participation of its valued members. While we look forward to the beginning of a new fiscal year, it is important that we take a moment to look back and reflect on our accomplishments, and take time to thank you, MEREDA's members, (300+) for your investment in the Association over the year. Your continuing support is critical to our ability to maintain and increase our advocacy work, and programs and related services, which are vital to development interests in Maine. It has been an honor to have served as MEREDA's president these past two years, and I look forward to MEREDA's continued growth and success. I am pleased to share with you below, an overview of MEREDA's accomplishments this past year. MEREDA's Three Overarching Priorities. MEREDA serves members' mutual interests in responsible development by advocating for fair and predictable regulation, hosting events rich with educational and industry insight, all the while providing opportunities to network with a diverse group of real estate professionals. Advocacy This year, one of MEREDA's key achievements on the legislative front was the passage of the MEREDA sponsored bill to expedite the appeals process of land use decisions. For years, opponents to key development projects in Maine have used the court system as a tool to delay projects knowing that delay itself could cause projects to fail. In response to this problem, MEREDA introduced LD 775 to expedite the land use appeals process in Maine and help facilitate development throughout the State. "An Act to Streamline Judicial Review of Certain Land Use Decisions," became law on April 19. Now, when a municipal land use decision on a significant project is appealed to Superior Court, any party will have the option of removing the case to the Business and Consumer Docket ("BCD"), and the BCD must accept the case. Unlike the regular docket of the Superior Court, the BCD aims to resolve its cases within 10 months. The new law improves predictability and efficiency in the local permitting process. April 14, 2016 Portland Press Herald Article - Law enacted to speed legal process for development disputes MEREDA Monitors and Responds to other Legislation Our active Public Policy Committee keeps a watchful eye on dozens of bills during every legislative session. This is a complicated and time consuming effort, but MEREDA has established itself as a voice of reason and an organization that can help Legislators understand the potential implications, both good and bad, of a particular piece of legislation or amendment. For example, the Committee tracked the progress of LD 713, a resolve regarding Shoreland Zoning that triggered MEREDA's participation in a Shoreland Zoning Working Group last fall. Ultimately, the Legislature's Environment and Natural Resources Committee sent letters to key state agencies to reinforce existing law and encourage greater education about compliance in the Shoreland Zone. MEREDA also followed up on a bill it opposed last year, LD 713, related to development in flood zones and tracked it this session until its demise. Each session brings new challenges and MEREDA will be prepared to review and respond to bills introduced in the next legislative session. Education & Insight MEREDA's Morning Menu Meetings, Networking Events, Conferences This year, MEREDA hosted a total of 16 events on topics ranging from construction workforce, commercial financing trends, historic tax credits, real estate partnerships, risk management at the statehouse, among others. MEREDA's breakfast and social events held throughout the state bring together highly-regarded experts and cover a variety of topical subjects. From time to time, MEREDA also collaborates with other like-minded groups on various topics. This year, MEREDA partnered with Build Maine, the Portland Regional Chamber, and GrowSmart Maine. MEREDA's signature event, the annual Forecast Conference and Member Showcase in January attracted nearly 800 attendees, and this year's Spring Conference had an all-time high of 280 attendees. Each year, MEREDA works hard to find forward thinking, trend-worthy topics for the annual spring conference, and each year continues to amaze us! This year we found out how the "Office of the Future" brings together place and technology, with real-world examples from Maine. Both events garnered several media mentions. In fact, the 2016 Forecast Conference dominated the headlines for a week, or more! MEREDA Index - MEREDA continues to work with Dr. Charles Colgan at the Muskie School on the MEREDA Index, which serves as a barometer for development activity in the state's real estate sector. Published biannually, the Index features supporting commentary by experts from key real estate sectors. The most recent edition of the MEREDA Index reflects a solid performance in the real estate market with a composite score of 90.7. While that number appears to have dropped from the previous release in the Fall of 2015, the cause of that relates to the effect of the three large transactions (100 Middle St., along with One and Two Portland Square). This effect is primarily felt in the commercial portion of the index and more specifically under square footage sold. However, the actual dip in commercial exclusive of these very large sales was small. It is notable that the residential index was a primary positive driver in the overall index this spring. Sales of existing homes and new mortgage originations both saw strong increasing trends. The lack of existing housing stock is driving demand for new residential construction in both the single-family and condominium market. While the construction industry continues to deal with a workforce shortage, the construction component of the Index is exhibiting a gradual rise. In the past we have seen growth spurts in construction in the hospitality, senior housing and condominium markets, and the latest spike is in residential apartment building construction. Networking The opportunity to connect with a diverse network of real estate professionals and related service providers is a valued benefit of the MEREDA membership. Over the years, many beneficial business relationships have begun at one of our annual social events, conferences, breakfast forums, and even through committee work. This past year, MEREDA held 2 annual networking social events, along with providing separate socializing time at our annual Forecast & Spring conferences, which gave our members a total of 4 opportunities to get to know one another. Workforce Development Issues MEREDA is keenly aware of the shortage of skilled trades men and women in our great state and is beginning to explore ways in which we may be able to contribute and lend our resources to efforts to help educate, attract, and retain skilled workers, starting with our own students. An educated workforce is vital to support economic development. MEREDA's "Strikes for Scholars" fundraiser allows us to put our dollars to work for education, and is just one way for us to lend a hand! We are proud to support Maine students as they prepare for careers that aim to promote MEREDA's mission of responsible development and ownership of real estate throughout the State. This year, MEREDA raised nearly $18,000 for scholarships for Maine students. MEREDA will be donating an additional $5,000 to this figure to be able to assist 16 students throughout the State achieve a college credential. Two students from each of the 7 community colleges, and 2 from the College of Science, Technology & Health at the University of Southern Maine (USM) will each receive a $1500 scholarship from MEREDA! MEREDA's leadership, members and volunteers are a vital part of Maine's economy. Whether you look to us for education, advocacy, networking, or all three, this is an exciting time to be part of MEREDA!

Read Article

The Right Equation for Responsible Development: Spotlight on Capital Judicial Center

August 9, 2016

In the third of a 6-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 ...

In the third of a 6-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 the Capital Judicial Complex in Augusta. A conversation with Alan G. Kuniholm, AIA, LEED AP, principal of PDT Architects. MEREDA: Describe the building and project. Alan Kuniholm: Funding for the Capital Judicial Complex was appropriated during the Baldacci Administration in 2010 and is the second major judicial consolidation project in the State, the Penobscot Judicial Center in Bangor being the first. The CJC consolidates the Kennebec County Superior Court, the Augusta District Court, the Family Court, Administrative Office of the Courts including the judicial marshals, and the Office of Information Technology. The new complex was designed as a 100 year building and comprises 125,000SF on four floors above structured parking on a 2.4 acre urban site adjacent to the historic Kennebec County Courthouse which has been in continuous use since 1830. The CJC provides for 6 new courtrooms, jury and non-jury, conferencing, mediation and multi-purpose spaces, judicial chambers, and safe and secure separated circulation for the public, the judiciary, and prisoners alike. MEREDA: What was the impetus for this project? Alan Kuniholm: The over-arching goals of the new complexes is to better serve the public through consolidation of separate facilities, new state-of-the-art security and technology, and to replace aging facilities with modern, energy efficient buildings. The new CJC project was designed for LEED Silver. MEREDA: That sounds like quite a process. How long were you in the planning stages before construction started? Alan Kuniholm: Of course planning and funding for this project started years before PDT Architects was interviewed for the project in November of 2010. We were awarded the contract in January of 2011. Consigli Construction was selected as the construction manager in the fall of 2011 just as the programming and space allocation was being completed. PDT completed schematic design in March of 2012. In August of 2012 construction began with an early demo package for the existing buildings on the site, and another package for site utilities. A GMP was reached in July of 2012 for $43M when the design team was 30% complete with design development, an early structural package allowed site-work, piles, and grade beams to begin in November of 2012. We completed the design documents in April of 2013. Steel erection was complete and the new court facility was weather tight in November of 2013. The project was bid over 24 months with multiple bid packages, the AV package was the last package to be bid just before the courthouse opened to the public on March 1 of 2015. MEREDA: Tell us about the most challenging aspect of getting this project completed. Alan Kuniholm: (1) Fast-tracking a courthouse project on an urban brownfield site with over 100’ of elevation change, (2) Closing a street and connecting the new court facility to the 1830 Kennebec County Courthouse with a glass enclosed bridge, (3) Being cross-examined during the design process…… MEREDA: Something unexpected you learned along the way was…. Alan Kuniholm: The first sitting of a court in this area was when Augusta was part of Hallowell, and Lincoln County, and still part of Massachusetts, and took place in Pollard’s Tavern in 1787 which later burned down. Winthrop Street was the main artery of Augusta rising up the hill from Water Street. A new courthouse was built to replace the tavern for the Court of Common Pleas, and at that time they had no funds to complete the project and held court in an unfinished building. MEREDA: Now that it’s complete, what feature of the project do you think makes it the most notable? Alan Kuniholm: The lantern over the public stair, it is symbolic of the scales of justice, and when using the stair or seen from afar, takes its place amongst the church spires and the capitol dome.

Read Article

MEREDA’s Morning Menu: Alternative Project Delivery – the New Economic Development Opportunity

August 8, 2016

Relationships between the public and private sectors in the provision of infrastructure projects and other services are evolving and becoming more fluid. A popular term of art to describe these ...

Relationships between the public and private sectors in the provision of infrastructure projects and other services are evolving and becoming more fluid. A popular term of art to describe these evolving relationships is a P3 or a public-private partnership. This presentation will provide an overview of the types of available relationship structures to accomplish economic development and other projects. The private sector is participating in phases of projects not traditionally undertaken by the private sector. With the right risk allocation, these alternative relationship structures can bring about projects that would not otherwise move forward. The presentation will provide real life examples both outside and inside the State of Maine. In order to realize the full potential of these alternative structures in Maine, we need to (1) assess and address any legal obstacles, (2) build up the necessary and applicable professional services undertake workforce development, and (3) properly prioritize and attend to stakeholder education and management associated with alternative project delivery structures.Join MEREDA on September 8th at the Clarion Hotel in Portland as this presentation explores Public Private Partnerships (P3s) and other forms of alternative financing, and how Maine could use these tools more effectively in order to improve and maintain our important public infrastructure.About our Presenters:Shana Cook Mueller, Esq., Shareholder, Bernstein ShurWith expertise across municipal law, development, and public finance, Shana has spent that last decade helping municipalities make the most of scarce resources and working with private clients to turn development plans into a reality. Holding a master's in public administration with a focus on finance, Shana brings insight on the public entity's perspective to every project-and regularly conducts projections to demonstrate the property tax implications of new development projects. Shana was instrumental in creating Maine's first-ever transit-oriented tax increment financing (TIF) district and has one of the most active TIF practices in Maine. She also serves as bond counsel on matters such as tax-exempt leases, Maine Municipal Bond Bank issues, public and negotiated sales and post issuance compliance. She also works on property tax matters, zoning issues, and amending ordinances. In her former life, Shana was a public policy researcher and analyst at an economics and management consulting firm in Boston. She received her undergraduate degree from Brown University and her Masters Degree in Public Administration and Law Degree from the University of Connecticut. Steve Hinchman, Esq., Director of Financing at ReVision Energy Steve has more than forty years of legal and public policy experience, including 8 years of environmental reporting with Colorado's High Country News, a tenure with the Southwestern Colorado Resource Advisory Council, six years with the Conservation Law Foundation in Maine and General Counsel of GridSolar, LLC. A 2003 Graduate, Summa Cum Laude, of the Vermont Law School, Mr. Hinchman is admitted to the bar in Maine, the U.S. District Court of Maine, and the First and D.C. Circuit Courts of Appeals, and has participated in cases before the Second and Ninth Circuit Courts of Appeals. Mr. Hinchman has also practiced before the Maine Board of Environmental Protection, the Land Use Regulatory Commission, the Maine Ethics Commission, and the Legislature's Joint Standing Committees on Natural Resources and Energy and Utilities. At ReVision Energy, Steve Hinchman utilizes his legal experience to secure financing solutions for solar energy projects throughout the Northeast. Stephen Jones, Partner, Treadwell Franklin Infrastructure Capital Stephen Jones is a Partner in Treadwell Franklin Infrastructure Capital, and former Director of Investments at Odebrecht Construction USA Inc. Stephen's demonstrated track record in infrastructure and development project finance and investment spans 5 continents in 22 years with major financial institutions. His clients have included the top engineering, construction, concession, development, utility and institutional investors in the world. About the EventMEREDA's Morning Menu: Alternative Project Delivery - the New Economic Development OpportunitySeptember 8, 2016 - 7:30AM to 9:00AM Clarion Hotel 1230 Congress Street Portland, ME Buffet Breakfast: 7:30-8:00 am Program: 8:00-9:00 am Registering for this Event: Member: $45 pp | Non-Member: $55 pp Prices increase by $10 after September 1st Your RSVP is requested by September 1, 2016. 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 September 1st. Visit www.mereda.org for more information and to register. This MEREDA "Morning Menu" Breakfast Event is Sponsored by Norway Savings Bank and Bernstein Shur.

Read Article

MEREDA Raises Money for Maine Students through Scholarship Fundraiser

August 2, 2016

On May 5th, the Maine Real Estate & Development Association (MEREDA) hosted its Fourth Annual " Strikes for Scholars" Bowl-a-Thon and Silent Auction Fundraising Event at Bayside Bowl in Portland. Thanks to ...

On May 5th, the Maine Real Estate & Development Association (MEREDA) hosted its Fourth Annual " Strikes for Scholars" Bowl-a-Thon and Silent Auction Fundraising Event at Bayside Bowl in Portland. Thanks to the support of our bowling teams, sponsors, and donators, the event raised nearly $18,000, all of which will fund scholarships for Maine students enrolled in the building trades, architecture, construction, engineering or business programs at a Maine Community College (MCCS), or the College of Science, Technology & Health at the University of Southern Maine (USM). MEREDA is keenly aware of the shortage of skilled trades men and women in our great state and is beginning to explore ways in which we may be able to contribute and lend our resources to efforts to help educate, attract, and retain skilled workers, starting with our own students. MEREDA’s “Strikes for Scholars” fundraiser allows us to put our dollars to work for education, and is just one way for us to lend a hand! We are proud to support Maine students as they prepare for careers that aim to promote MEREDA's mission of responsible development and ownership of real estate throughout the State. In fact, MEREDA will be donating an additional $5,000 to the fund, bringing the total number of students receiving scholarships to 16! Two students from each of the 7 community colleges, and 2 from the College of Science, Technology & Health at the University of Southern Maine (USM) will each receive a $1500 scholarship from MEREDA! Special thanks to Landry French / Construction and AAA Energy Service Co. for participating as our Bowl-a-Thon and Silent Auction Sponsors, and our additional sponsors, Mainebiz, GEI Consultants, and Otis | Atwell! We couldn’t have done it without all of you! Check out photos from the event here.

Read Article

« Previous
1
…
30
31
32
33
34
…
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

Passive House Pushes [& Seals] The Envelope

Maine Real Estate & Development Association Elects Michael Lane to its Board of Directors

MEREDA’s Morning Menu: Real Estate Development 202: Housing Development Demystified— A Look Behind the Veil

The New-Old Humpty Dumpty

When Generations Collide

Morning Menu Breakfast Event: Sustainable Stormwater Infrastructure = Sustainable Growth Perspectives on Stormwater Service Fee Programs and Credits

The Right Equation for Responsible Development: Spotlight on Pepperell Mill Campus

OSHA Provides Final Rule on Silicia – Major Changes Likely Ahead for the Construction Industry

MEREDA Hosts Annual Fall Networking Social on Portland’s Waterfront

How Technology is Disrupting Real Estate

The Right Equation for Responsible Development: Spotlight on The Mill at Dover-Foxcroft

Morning Menu Breakfast Event – Complete Streets: Can We Drive, Walk, and Bike in Harmony?

The Art of the Donald | Presidential primary politics as a real estate development deal?

The Art of the Donald | Presidential primary politics as a real estate development deal?

How the New Overtime Regulations Will Affect the Real Estate Industry

MEREDA’s Annual Lewiston/Auburn Fall Networking Social

MEREDA’s Year in Review 2015 -2016

The Right Equation for Responsible Development: Spotlight on Capital Judicial Center

MEREDA’s Morning Menu: Alternative Project Delivery – the New Economic Development Opportunity

MEREDA Raises Money for Maine Students through Scholarship Fundraiser