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September 17, 2020 at 4:24 pm · · Comments Off on MEREDA to Host Virtual Fall Conference on the Future of Maine’s Economy

MEREDA to Host Virtual Fall Conference on the Future of Maine’s Economy

The Chamberlain Model: Back to the Future

For Immediate Release: (September 17, 2020)  On October 15, 2020, the Maine Real Estate & Development Association (MEREDA) will host a dynamic and forward-looking virtual conference on the future of Maine. As we all navigate the uncharted waters of our times, MEREDA and its members are looking to Maine’s success stories, both in the past and in current times, as a way to map our path forward. With much to be learned from the rich history of Maine, MEREDA’s Fall Conference brings together a line-up of exciting speakers and panelists to tie the history of this great state to the economy we face today.

“One of Maine’s favorite sons, Joshua Chamberlain, laid the groundwork for Maine’s future in his speech given in 1876 to celebrate America’s Centennial,” says MEREDA President Josh Fifield. “His vision still resonates in today’s pandemic economy and provides stepping stones for all of us as we work to create Maine’s future,” Fifield continues.

With Chamberlain’s words and vision as inspiration, MEREDA will host featured speakers Senator Angus King, University of Southern Maine (USM) President Dr. Glenn Cummings, and historian Earle G. Shettleworth, Jr. They will discuss the risks and rewards of Chamberlain’s economic outline, outline USM’s plan for growth, and tell the story of Maine through its people.

Complementing these perspectives, Dr. Charles Colgan (Maine Center for Business and Economic Research, Former State Economist of Maine) will give a presentation on Maine’s current economy and provide an update on the key economic numbers that reflect the state of Maine’s real estate industry. He will be followed by Kim Hamilton, CEO of FocusMaine, who will speak about Maine’s great potential for growth in the global economy. The stage will then turn to a moderated discussion with four Maine companies experiencing growth during the COVID economy. Panelists will include Scott Wellman, CFO Puritan Medical Products; Amber Lambke, Founder & CEO Maine Grains; Seth Webber, Principal Berry Dunn; Briana Warner, CEO Atlantic Sea Farms. The panel will be moderated by Andrea Cianchette Maker, Esq. Pierce Atwood, LLP.

The conference will be safely presented in a virtual environment via LiveStream from 8 am to 12 pm on Thursday, October 15. 3 hours of Continuing Education Credits will be available for brokers and attorneys.

For more information, or to register for the conference please visit www.mereda.org.

This event is sponsored by AAA Energy Service Co., BCM Environmental & Land Law, CHA, Criterium Engineers, Maine Magazine, Mainebiz, People’s United Bank, Pierce Atwood, Sevee & Maher Engineers.

September 14, 2020 at 8:00 am · · Comments Off on New Research Shows Maine Historic Tax Credit Delivers Strong Economic Impact Benefiting Local Communities and the State

New Research Shows Maine Historic Tax Credit Delivers Strong Economic Impact Benefiting Local Communities and the State

Maine Legislature urged to protect its historic preservation tax incentive by coalition of historic preservation advocates and industry leaders

This just in!

Recorded Video of Press Event Available

The recorded video of this morning’s press conference is available for your review along with the released report, and historic tax credit project data.

Maine Preservation and its partners, CEI, Greater Portland Landmarks, GrowSmart Maine, and Maine Real Estate & Development Association (MEREDA) held a press conference this morning and shared highlights from the newly released tax credit impacts report.

Links:

 

September 14, 2020, Yarmouth, ME – Recently released research commissioned by Maine Preservation in partnership with CEI, Greater Portland Landmarks, GrowSmart Maine, and Maine Real Estate & Development Association (MEREDA) shows that Maine’s historic rehabilitation tax credit (HTC) has had strong, far-reaching impacts on Maine’s economy and quality of life while more than paying for itself. The “Maine Historic Tax Credit Economic Impacts Report,” authored by Charles Lawton and Frank O’Hara, leading Maine-based economists, illuminates that HTC-aided renovations have added over $166 million to local property tax rolls in host communities, including $17 million in new property tax revenue since 2010. The HTC program has become a major local development tool in its own right with an another $19 million in new income and sales tax revenues are estimated to have come into state coffers since 2008. To date, the program has generated $3 million more in state and local tax revenues than it has cost in tax credits and it is estimated that the net economic benefit to Maine state and local governments will double to at least $6 million annually by 2022.

The data reveals that the HTC has generated $525 million in construction investment; rehabilitating 3.6 million square feet of commercial and residential space; and created or preserved 1,911 housing units, of which nearly 1,300 are affordable. The construction spending alone has generated 200-700 full-time-equivalent jobs annually for the past decade. Additionally, nearly 700 new full-time, year-round jobs have been generated by businesses occupying commercial spaces and in building maintenance, generating $13 million per year in ongoing income to families living in these communities. For insight into how local communities benefit from this program, please see the case studies in the report.

“Maine’s Historic Tax Credit has delivered critically needed economic revitalization to small and large communities through the rehabilitation of more than 100 historic buildings,” said Greg Paxton, Executive Director of Maine Preservation. “The credit is a highly successful incentive to take vacant or underused buildings and thoroughly update and adaptively use them to fill current needs, while heightening civic pride and wellbeing.”

“We see the impact of this tax credit across Maine, from Eastport to Rumford, Portland to Dover-Foxcroft. This tax credit makes possible a mix of housing, retail and hospitality, and commercial uses, all within walking distance, relieving development pressure from undeveloped lands and reducing dependence on vehicles to get around. All this has community, economic and climate benefits, “ notes Nancy Smith, Executive Director of GrowSmart Maine.

“Here in Greater Portland the tax credits continue to help attract private investment for rehabilitation projects throughout the region,” said Sarah Hansen, Executive Director of Greater Portland Landmarks. “Not only do the credits ensure that the revitalization of our historic neighborhoods and commercial districts is economically viable, they contribute to the continued development of much needed affordable and market-rate housing.”

“The historic tax credit program is doing what it was designed to do: spur direct investment and drive other intended benefits of economic revitalization,” said John Egan, Chief Investment Officer, CEI. “By reviving vacant and decaying buildings, we are also bringing young people and jobs back to Maine’s downtowns.”

This research illustrates the substantial and cost-efficient economic benefit of reusing mills, schools, and other vacant or under-used historic resources and affirms the continued need for the HTC to support development projects in Maine’s communities.

The full report text can be found at https://www.mainepreservation.org/maine-historic-tax-credit-economic-impacts-report-2020.

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Maine Preservation is an independent 501(c)(3) nonprofit member-based statewide historic preservation organization that promotes and preserves historic places, buildings, downtowns and neighborhoods, strengthening the cultural and economic vitality of Maine communities.

About the Partners:

CEI Coastal Enterprises, Inc. (CEI) helps to grow good jobs, environmentally sustainable enterprises and shared prosperity in Maine and in rural regions across the country by integrating financing, business and industry expertise, and policy solutions. CEI envisions a world in which communities are economically and environmentally healthy, enabling all people, especially those with low incomes, to reach their full potential. More at www.ceimaine.org.

Greater Portland LandmarksFounded in 1964, Greater Portland Landmarks’ mission is to preserve and revitalize greater Portland’s remarkable legacy of historic buildings, neighborhoods, landscapes and parks. For more information visit portlandlandmarks.org

GrowSmart Maine is a statewide nonprofit working through community engagement, events and advocacy to build lasting prosperity without sacrificing the quality of life that defines Maine.

Maine Alliance for Smart Growth is a network supported and led by GrowSmart Maine. Smart growth provides choices in how communities respond to growth and change and our goal is to ensure that future generations can prosper and choose to call Maine home.

MEREDA is a statewide, membership-based organization founded in 1985, whose members include real estate owners, for profit and nonprofit developers, architects, engineers, bankers, property managers and other related professionals. Through its advocacy, educational, and networking efforts, MEREDA seeks to promote an environment for responsible development and ownership of real estate throughout the state.

August 25, 2020 at 2:52 pm · · Comments Off on Join MEREDA at its next Virtual Event – Portland’s Eastern Waterfront: Three Creative Developers and their Visions

Join MEREDA at its next Virtual Event – Portland’s Eastern Waterfront: Three Creative Developers and their Visions

Thursday, September 24, 2020
8:30 – 9:30 AM

While this event is free of charge, registration is required.

Register Here

About the Event:

Description:  Seasoned developers David Bateman, Ara Aftandilian, and Jonathan Cohen have transformed Portland’s Eastern Waterfront into a sparkling mix of prestigious office buildings, hotels, restaurants, and residences. Moderator David Soley will focus the discourse on what is happening in this booming region – and the vision for the future.

Moderated by David A. Soley, Partner, Bernstein Shur / East Brown Cow

Our panelists include:

David Bateman, President, Bateman Partners LLC

Ara Aftandilian, President / Managing Member, EssexNorth Portland LLC

Jonathan Cohen, President, AD&W Architectural Doors & Windows

Register Here

July 29, 2020 at 3:17 pm · · Comments Off on Board Members Retire from Real Estate Organization after Many Years of Service

Board Members Retire from Real Estate Organization after Many Years of Service

PORTLAND, Maine (July 29, 2020) The Maine Real Estate & Development Association announces retirements from its Board of Directors.

James M. Whelan, Vice President, Business Loan Officer at Saco & Biddeford Savings Institution has retired from the Maine Real Estate & Development Association’s (MEREDA’s) Board of Directors after 20 years of service.  MEREDA recognized Jamie in 2015 with its Robert B. Patterson, Jr. Founders’ Award, a career recognition award to acknowledge members of MEREDA who have distinguished themselves by making significant contributions to the real estate industry and/or to MEREDA over many years. Jamie was instrumental in MEREDA beginning to take on legislative issues which were an impediment to responsible real estate development. Jamie was a dedicated past president of MEREDA having served a 3-year term rather than the customary 2-year term and also participated on MEREDA’s executive, public policy, and conference committees.

James Palmer, a Partner at Verrill, one of New England’s leading midsize law firms, served as a contributing member of MEREDA’s Board of Directors for the past 16 years. During this time, Jim participated on MEREDA’s Public Policy Committee. At Verrill, Jim has practiced commercial real estate law for more than 30 years. Over that time, he has represented lenders in commercial lending, handled a variety of lease negotiations, and represented developers of office buildings, hotels, and other commercial projects.


Amy Booth
, Facilities & Property Management Expert, served on MEREDA’s Board the last 6 years.   Amy was active on MEREDA’s Membership & Marketing Committee helping develop ways to create additional value for MEREDA’s membership and brainstorming ideas to further enhance the effectiveness of the organization.  She was also active on MEREDA’s “Strikes for Scholars” Bowl-a-Thon fundraising committee.

Also retiring after serving for 6 years is Eben Adams, Partner and Chair of Pierce Atwood’s Real Estate Practice Group. Eben’s practice includes all aspects of real estate law with a focus on commercial and residential development, acquisitions, sales and leasing. Eben participated on MEREDA’s Conference Committee.

“MEREDA has been fortunate to be able to work with so many talented individuals over the years. We are grateful for their dedication and service,” stated Shelly R. Clark, MEREDA Vice President of Operations, “Their contributions are very much appreciated.”

For further information, please contact MEREDA’s Vice President of Operations, Shelly R. Clark at info@mereda.org.

July 21, 2020 at 12:05 pm · · Comments Off on Maine Real Estate & Development Association (MEREDA) Announces Appointments to its Board of Directors

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

PORTLAND, ME (July 21, 2020) – Rebecca West Greenfield, Partner at Pierce Atwood, and resident of Yarmouth, and Anthony Calcagni of Falmouth, Partner at Verrill, have been elected to the board of directors of the Maine Real Estate & Development Association (MEREDA), a statewide organization of commercial real estate owners, developers and related service providers.

Rebecca West Greenfield maintains a transactional commercial real estate practice involving acquisitions, dispositions, development, leasing, finance, and title and land use analysis. She has particular expertise in project finance for new and existing real estate developments.

Rebecca has represented regional real estate developers, educational institutions, lenders and other commercial entities in a wide array of development and lending transactions involving hotels and resort properties, office buildings, campus expansions, residential subdivisions, and other commercial properties. Her experience extends to certain specialized areas as well, including advising clients in the space of commercial mortgage backed securitized loans and the defeasance of such securitized loans, timberland transactions, and preparation of registration reports pursuant to the requirements of the Federal Interstate Land Sales Disclosure Act.

Anthony Calcagni joined Verrill Dana in 1994. Tony’s real estate practice has focused on acquisitions, development and leasing of commercial property, easements and title matters, zoning and land use, and community associations. Tony has represented the developers of several of the largest wind power projects in the State of Maine. He has served as Chair of Verrill’s Real Estate Department since 2010.

Since 2007, Tony has been recognized in Chambers USA: America’s Leading Lawyers for Business, and listed in The Best Lawyers in America under Real Estate Law. He was accepted as a Fellow of the American College of Real Estate Lawyers in 2015. Tony served as Chair of the Maine State Bar Association’s Real Estate and Title Section from 2016-2018, and served on the Town of Falmouth Planning Board from 2002-2009 (serving as Chair from 2007-2009).

MEREDA’s Vice President of Operations, Shelly R. Clark says, “Pierce Atwood and Verrill have all been longtime supporters of MEREDA, and Rebecca and Tony will be great additions to the Board of Directors. We look forward to their active participation on our various committees and we are excited to begin working more closely with each of them.”

For further information, please contact MEREDA’s Vice President of Operations, Shelly R. Clark at info@mereda.org or visit www.mereda.org.

July 14, 2020 at 8:37 am · · Comments Off on The Outstanding Seven: MEREDA’s 2019 Notable Project Recipients

The Outstanding Seven: MEREDA’s 2019 Notable Project Recipients

PORTLAND, ME – July 13, 2020 –  Every spring, MEREDA recognizes the most noteworthy and significant Maine commercial development projects from the previous year, all of which embody the Association’s mission to support responsible development.

In keeping with tradition, MEREDA’s Board intended to honor the award recipients at the 35th Anniversary Gala. Originally scheduled for the end of March 2020, the Gala was postponed indefinitely due to COVID-19. Though they may have their formal award delayed, these projects have only gained practical significance as they serve their communities–especially under additional strain and stress of these unprecedented times.

In 2019, these seven projects distinguished themselves in design, construction, land-use, and added benefit to their communities.

Hannaford Center, Good Shepherd Food Bank (Hampden) which renovated the former Bangor Daily News printing press building, allowing the Food Bank to purchase and distribute more food, more frequently and efficiently to northern, central, and Downeast Maine.

Cape Arundel Cottage Preserve, Arundel-Kennebunkport Cottage Preserve LLC (Arundel) for creating an overwhelming sense of place and cohesive design on a 300-acre project, using sustainable practices and natural landscapes.

62 Spring Street, Auburn Housing & Anew Development (Auburn), for its diversity and vibrancy, epitomizing the “Smart Growth” concept which successfully connects the dots between affordable housing, city walkability, economic energy, and downtown growth.

Founders Place Campus, Bangor Savings Bank and CJ Developers (Bangor), for the creative and extensive implementation of environmental systems and capacity to spur talented business growth to Bangor.

Southgate Avesta Housing (Scarborough), for the preservation and creative renovation of a 215 year-old farmhouse as a vibrant community of 38 safe, quality, and affordable homes through the incredible support of partners and donors.

Station Square, Great Falls Construction (Gorham), for the thoughtful and intentional preservation of Gorham’s historic identity as a railroad village, with equal emphasis on the community invitation to work, live, and play while employing Mainers.

WEX Global Corporate Headquarters, Jonathan S. Cohen & 0 Hancock Street LLC (Portland), for a statement of responsible development, innovation, and modernity, using lean construction principles kept work flowing and the project on track, and continuously emphasizing sustainability and energy efficiency.

MEREDA thanks its Membership for their continued commitment to responsible development in Maine, and looks forward to formally and tangibly recognizing these Notable Projects when it is safe to do so. In the meantime, each project will be recognized with its own article in the Maine Real Estate Insider e-newsletter published by Mainebiz, running Summer of 2020.

For more information on these impressive projects, please click here.

 

 

 

 

 

 

 

 

 

July 2, 2020 at 11:04 am · · Comments Off on Maine Real Estate & Development Association Names New President and Announces 2020-2022 Officers

Maine Real Estate & Development Association Names New President and Announces 2020-2022 Officers

Portland resident, Josh Fifield, a Senior Account Executive in the Business Insurance Department of Clark Insurance is the new president of the Maine Real Estate & Development Association (MEREDA), a statewide organization of commercial real estate owners, developers and related service providers. Founded in 1985, MEREDA promotes responsible development and ownership of real estate in Maine through legislative advocacy, educational programs and professional networking opportunities.

As a Senior Account Executive at Clark Insurance, a 100% Employee Owned insurance agency headquartered in Portland, Maine, Josh has over 16-years of experience as an advocate and trusted insurance advisor.   He developed an exceptional skill set starting his insurance career as an Underwriter for Maine Employers Mutual Insurance Company.

As an employee owner, he is responsible for the continued and successful growth of Clark Insurance by providing its customers with comprehensive business insurance solutions and related safety and risk management services. His focus is on the unique needs of New England’s real estate and development focused businesses, providing agency-wide services such as 24-hour claims assistance, competitive plans, exceptional customer service, and safety & risk consulting services.

An active member of his community, Josh has coached a variety of youth sports and has been the Safety Director for the Portland Little League.

In MEREDA, Josh started volunteering as a committee member on the Marketing & Membership Committee in early 2014. In 2017, Josh was recognized as one of two Volunteers of the Year. He has remained actively engaged as the co-chair of MEREDA’s Marketing & Membership committee and more recently as MEREDA’s Vice President of the Board of Directors.

Josh succeeds Gary D. Vogel, attorney at Drummond Woodsum who has led MEREDA for the past two years. “Gary’s steady leadership during these unprecedented times has shown how well MEREDA was able to quickly pivot in order to continue our statewide advocacy efforts and create informative and responsive virtual events including the MEREDA INDEX and COVID-19’s immediate impact to Maine’s development industry”, said Fifield. “I welcome the opportunity to help guide MEREDA through these challenging times, all the while continuing to maintain its unparalleled pursuit of advocating on behalf of its members.

“MEREDA also announced its 2020 / 2022 slate of officers which include President Josh Fifield of Clark Insurance, Vice Presidents Shannon Richards of Hay Runner and Craig Young of The Boulos Company, Treasurer Mark Stasium of Camden National Bank, and Secretary Shelly R. Clark, who also serves full time as MEREDA’s Vice President of Operations.

L-R: Josh Fifield, Shannon Richards, Craig Young, Mark Stasium, Shelly Clark

June 10, 2020 at 11:15 am · · Comments Off on The 2020 MEREDA Index: A Look at the 2019 Data and a Review of Current Conditions

The 2020 MEREDA Index: A Look at the 2019 Data and a Review of Current Conditions

On Thursday, June 4th, MEREDA unveiled its 2020 MEREDA Index, at a free-to-attend virtual event to discuss the 2019 data, and apply that knowledge to today’s constantly-shifting landscape and unpredictable future.  The event had nearly 150 registrants. In case you missed it, you can watch, or watch it again, here

This most recent release provides a review of 2019’s full calendar year. However, with the COVID-19 pandemic striking right before the 2019 Index unveiling, even recent history lost importance as global focus shifted instantly to the uncertain future. Insightfully, MEREDA leadership pivoted just as quickly, adding a preview of 2020 based on first quarter data.
This year marks the first year that we have revised the timing of the Index so that an entire calendar year is presented when the Index is unveiled.   The current MEREDA Index contains a measurement and presentation of the real estate market in Maine, and its various components for all of 2019.   Rather than presenting the Index through the third quarter of the preceding year at our annual January Forecast Conference, and then producing a second edition with a full calendar year of data, the Index is now presented once a year in the spring, with an entire year of data.

Because of the great changes that have occurred in a very short period of time beginning in March 2020, and because of the relevance of the 2020 data showing the initial impact of the virus, we asked Dr. Charles Colgan, the economist who prepares the Index, to include some first quarter 2020 data in a supplement to the Index that is included in the index presentation.

We have many people to thank!  Firstly, thank you to those involved in providing commentary found in our Print Edition and accompanying Video, which can be accessed on our website.  Providing insights into the residential sector was Mark Small of Landmark Realty, Jessica Estes of The Boulos Company spoke about the commercial sector, and Patrick Ducas of Ducas Construction spoke on construction.

Thank you also to those folks participating in our June 4th webinar.  In an effort to broaden the discussion even further, we asked additional MEREDA members to provide supplementary perspectives on the residential, commercial, and construction sectors. The webinar included Tim Soley of East Brown Cow discussing the commercial sector, Dava Davin of Portside Real Estate Group covered the residential sector, and the construction sector was covered by Kevin French of Landry/French Construction.

Many thanks also, to MEREDA president Gary Vogel, for taking the lead on the June 4th webinar as moderator, and to Dr. Charles Colgan, for always providing an incisive analysis for our members.

June 3, 2020 at 11:04 am · · Comments Off on Oracle and Historian: MEREDA’s 2020 Index of 2019 Data

Oracle and Historian: MEREDA’s 2020 Index of 2019 Data

Since 2012, the Maine Real Estate & Development Association has looked to Maine economist Dr. Charles Colgan, to analyze the health of Maine’s Real Estate activity according to activity in the residential, commercial, and construction sectors of the real estate industry. Using nine seasonally-adjusted measures, Dr. Colgan produces a single composite number: the MEREDA Index, which benchmarks the year for posterity, as well as for use by today’s professionals and policy makers.

Typically a bi-annual publication, MEREDA’s Board of Directors voted to make the 2020 Index a review of 2019’s full calendar year. However, with the COVID-19 pandemic striking right before the 2019 Index unveiling, even recent history lost importance as global focus shifted instantly to the uncertain future.  Insightfully, MEREDA leadership pivoted just as quickly, adding a preview of 2020 based on first quarter data and boots-on-the-ground perspectives from industry experts.

In addition to this written preview, MEREDA will provide a live look-in of the latest Index and news at their upcoming virtual event, The 2020 Index: A Compilation of 2019 Data and Review of Current Conditions.  Panelists include Dr. Charles Colgan, Maine Center for Business and Economic Development; Tim Soley, President of East Brown Cow Management, Inc.; Dava Davin, Principal at Portside Real Estate Group; and Kevin French, Executive VP at Landry/French Construction. The discussion will be moderated by Gary Vogel, MEREDA Board President.

Join MEREDA’s membership as they unveil and discuss the 2019 data, and apply that knowledge to today’s constantly-shifting landscape and unpredictable future. The free-to-attend event will run from 8:30 AM – 9:30 AM on the morning of Thursday, June 4th.

For further information, please contact MEREDA’s Vice President of Operations, Shelly R. Clark at info@mereda.org or visit  www.mereda.org.

The 2020 Spring MEREDA Index is Underwritten by Eaton Peabody, and Supported by Ducas Construction, Sebago Technics, and XPress Copy.

February 3, 2020 at 8:00 am · · Comments Off on Maine Real Estate & Development Association Elects Matt Worthen to its Board of Directors

Maine Real Estate & Development Association Elects Matt Worthen to its Board of Directors

Matthew Worthen of Falmouth, has been elected to the board of directors of the Maine Real Estate & Development Association (MEREDA), a statewide organization of commercial real estate owners, developers and related service providers.

A shareholder at the law firm Eaton Peabody, Matt is a member in the firm’s Business Practice Group and chair of the firm’s Real Estate Practice Group.  Matt represents institutional lenders, as well as business in a variety of commercial and real estate transactions and law issues, including financing, development, and leasing. In addition to large and mid-sized businesses, Matt works with family-owned and small businesses in Maine, providing them the best representation in all aspects of legal matters. From formation, expansion, leasing, purchase, and sale, Matt’s commitment to his clients’ best interests has served him extremely well in his twenty-year career.

An active member of MEREDA, Matt serves on its Conference Committee and most recently took a leading role helping develop the program for its annual Spring Conference held last May, which fostered a thought-provoking discussion around the future of housing in Maine. The outcome was a fantastic agenda and speaker panel, in which Matt also participated as one of the program’s moderators.

MEREDA’s Vice President of Operations, Shelly R. Clark says, “We are excited to begin working with Matt at the Board level, and look forward to his help in the future to craft more cutting-edge conferences!”

For further information, please contact MEREDA’s Vice President of Operations, Shelly R. Clark at 207-874-0801