June 2, 2017 at 12:00 am · tkcDev · Comments Off on Maine Real Estate & Development Association Awards Top 10 Notable Projects of 2016

Maine Real Estate & Development Association Awards Top 10 Notable Projects of 2016

The Maine Real Estate & Development Association (MEREDA) recently announced the recipients of its 2016 Notable Projects Awards at its Annual Real Estate Spring Conference. This year’s event, titled “’YIMBY’ism: YES in my Backyard – Why Development is Good” was held on May 18 in South Portland.

Each year, MEREDA recognizes some of the state’s most “noteworthy and significant” real estate projects, completed in the previous year. Spread across the state, each of these projects aided in Maine’s economic growth, while also embodying MEREDA’s belief in responsible development. These projects not only exemplify best practices in the industry, and also involve a significant investment of resources and job creation statewide.

“We are blown away by the vision and integrity demonstrated by developers across Maine, so much so that, for the first time ever, we expanded the list in true David Letterman style to a TOP TEN,” noted Paul Peck, President, MEREDA Board of Directors and LWS Investments/Drummond & Drummond, LLP.

Selections were made based upon criteria including: environmental sustainability, economic impact, energy efficiency, social impact and job creation.

MEREDA’s Top 10 Most Notable Projects of 2016 were awarded to:

• Forefront Partners, for Brick North at Thompson’s Point in Portland
• Avesta Housing’s Ridgewood at Village Square in Gorham
• Community Housing of Maine’s Village Centre in Brewer
• Anew Development’s Meetinghouse Lofts Condominiums in South Portland
• Southern Maine Affordable Housing and Biddeford Housing for their collaborative effort at Mission Hill in Biddeford
• Avesta Housing for the Young Street Apartments in South Berwick
• The Szanton Company for The Lofts at Saco Falls in Biddeford
• Sebasticook River Partners’ Sebasticook River Apartments in Newport
• Priority Real Estate Group’s Wayfair at Brunswick Landing, and
• Risbara Properties, LLC, for Blue Spruce Farm Apartments, Waterside Apartments and Island View Apartments, all in Westbrook

Representatives from each of the above projects were on hand at the event to receive their award.  For more information about each of these impressive projects, please click here.

Throughout the year we’ll also provide an up-close look at each of these notable commercial development projects in multi-part series exclusive to the Maine Real Estate Insider.  Stay tuned!

May 30, 2017 at 12:00 am · tkcDev · Comments Off on Maine Real Estate & Development Association Elects Josh Fifield to its Board of Directors

Maine Real Estate & Development Association Elects Josh Fifield to its Board of Directors

PORTLAND, Maine – Josh Fifield, a Senior Account Executive in the Business Insurance Department of Clark Insurance 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.

Since joining Clark Insurance, a 100 percent employee-owned independent agency, Josh has built a reputation for understanding the complexities of real estate development to help insure large affordable housing projects, commercial developments and industrial properties, including insurance solutions for state and federal historic & LIHTC tax credits.

A Maine native and graduate of the University of New Hampshire, Josh has been a volunteer on MEREDA’s Marketing and Membership Committee since January 2014 and was recently named by MEREDA in January as one of two Volunteers of the Year. He is an active and energetic volunteer helping to attract new members, creating original content on behalf of MEREDA for Mainebiz’s Maine Real Estate Insider e-mail newsletter, and promoting MEREDA’s important mission and benefits throughout the state.  

Josh and his family reside in Portland.

MEREDA’s Vice President of Operations, Shelly R. Clark says, “We’ve enjoyed working with Josh at the committee level and are excited to have him now engaged at the board level.  Josh has a lot of drive and ambition and will bring a great energy to the group.”

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

May 30, 2017 at 12:00 am · tkcDev · Comments Off on Maine’s second biggest industry as healthy as it’s been in 11 years

Maine’s second biggest industry as healthy as it’s been in 11 years

Maine's real estate sector reached its highest point in 11 years, with the industry metric that measures the health of the market, The MEREDA Index, coming in at 96. The MEREDA Index grew by more than 7% over 2016, the strongest growth since the recession.

“The most recent quarter marks the eighth in a row — that's two years — where The MEREDA Index has been above 90, a number not otherwise seen since the height of the market in 2006. That the real estate sector is so strong in Maine, and has been so strong for so long, is impressive," said Paul Peck, board president of MEREDA, who is also a real estate attorney and real estate developer.

"Real estate is one of Maine's biggest industries, second only to healthcare, contributing 14% of GDP. The strength of this sector benefits us all."

The MEREDA Index is a twice-annual metric meant to measure the health of the sector against pre-recession, 2006 levels. It was designed and is compiled for MEREDA by Dr. Charles Colgan, an economist with the University of Southern Maine, and is comprised of three components.

Thanks to the support of Eaton Peabody and SMRT for underwriting this edition of The MEREDA Index, three industry insiders recently joined MEREDA to discuss the latest numbers.

Learn more by watching the following video.

The commercial market, accounting for 50% of The MEREDA Index, grew almost 9% over the course of six months, and was a key driver in the record-setting performance of the metric. "Commercial lease rates and square footage were both strong over this period, offsetting weaknesses in the volume of commercial transactions and sales price per square foot," remarked Colgan, who also noted that total commercial transactions and median commercial sale price remained near and/or surpassed 2006 levels for this period.

The residential market, comprising 40%, "was unchanged over the past six months as sales of existing units and median price remained strong, but permits for new units dropped by nearly 17%. Estimated quarterly median price 1 hit 195,000 on a seasonally adjusted basis, equivalent to the 2006 first quarter figure … Sales of existing units and mortgage originations were both strong in the fourth quarter of 2016, but fell off in the first quarter of 2017," according to Colgan.

And construction, measured solely by construction employment, has grown almost 9% in the past six months and almost 6% year-over-year. "This is the strongest growth in construction employment over the past several years," said Colgan. Industry insiders say there is still strong demand for new construction projects to go online, and that more skilled workers are still needed in the industry, laying the groundwork for even more increases in this sector in the months to come.

"Stable interest rates and prudent lending by financial institutions has set a solid base for continued growth in the months ahead," concluded Peck.

A full report of The MEREDA Index is available for download here.

May 23, 2017 at 12:00 am · tkcDev · Comments Off on MEREDA’s 5th Anniversary “Strikes for Scholars” Bowl-a-Thon Fundraiser on May 4th Raises Funds for Scholarships for 16 Maine Students!

MEREDA’s 5th Anniversary “Strikes for Scholars” Bowl-a-Thon Fundraiser on May 4th Raises Funds for Scholarships for 16 Maine Students!

MEREDA is excited to announce that once again, MEREDA will be providing $20,000 in scholarships to students attending the Maine Community College System and the University of Southern Maine that are enrolled in the building trades and business programs. 

MEREDA strongly supports a strong education system. In fact, over the past 4 years, MEREDA is proud to have raised and donated over $47,000 in scholar­ships helping over 30 Maine students by making it a little easier for them to achieve their goal of obtaining a college credential. This year, those numbers will jump to $67,000 and 46! 

Many thanks to our generous sponsors Landry/French Construction, AAA Energy Service Co., and Mainebiz, as well as our bowling teams for supporting this worthwhile cause.  Without their involvement, these substantial donations would not be possible!   Check out photos from the event on our Facebook page!

April 25, 2017 at 12:00 am · tkcDev · Comments Off on Morning Menu Breakfast Event: “Darkness into Light: Cannabis and its impact on Commercial Real Estate in the Post-Prohibition Era.” – Bangor Edition

Morning Menu Breakfast Event: “Darkness into Light: Cannabis and its impact on Commercial Real Estate in the Post-Prohibition Era.” – Bangor Edition

Industry experts suggest that no new-to-market use has had as large an impact on Maine’s commercial real estate landscape in recent years as has cannabis cultivation.  Starting as a niche industry five years ago, the marijuana growth business has morphed into a well-regulated and complex professional system in some respects and an unregulated and "wild west" environment in others.  Rapid growth has put a significant strain on Maine’s existing industrial inventory and regulatory systems (both state and municipal).  And with the 2016 election legalizing adult use recreational cannabis, further stressors are anticipated.  Beyond adjusting to industrial impacts, Maine’s retail corridors need to prepare for inevitable retail store and further cultivation facility demand.  Importantly, efforts to implement the recreational cannabis program will provide Maine with an opportunity to "get it right" and enact a safe, robust, and fair regulatory system giving Maine the opportunity to establish a unique and successful economic sector in which many professionals will be comfortable operating. 

Join MEREDA for breakfast on June 13 from 7:30 AM – 9:00 AM at the Cross Insurance Center in Bangor for a panel discussion and presentation on how this industry has evolved, where things stand today and what the future may hold. The panel will be moderated by Justin Lamontagne, a Partner at NAI The Dunham Group specializing in commercial industrial brokerage. It will feature presentations by Dan Walker of Preti Flaherty and Gretchen Jones of Eaton Peabody, two legal experts with extensive experience in representation of both cannabis landlords and end-users. 

Discussion points will include a legislative update on current laws, an overview of financial and insurance hurdles, and pros and cons for property owner Landlords to consider. We will also have perspective from cannabis industry experts with Jacques Santucci from Opus Consulting Group and Brett Messer General Manager, Caregiver at Brigid Farm completing the panel.

About the Event:
June 13, 2017 – 7:30AM to 9:00AM

Cross Insurance Center
515 Main Street
Bangor, ME

Buffet Breakfast: 7:30-8:00 am
Program: 8:00-9:00 am

Registering for this Event:

Member: $25 pp | Non-Member: $35 pp 
Prices increase by $10 after June 6

Your RSVP is requested by June 6. 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 June 6. 

Click here for more information and to register.

March 30, 2017 at 12:00 am · tkcDev · Comments Off on Morning Menu Breakfast Event: The State of Senior Living In Maine

Morning Menu Breakfast Event: The State of Senior Living In Maine

Buffet Breakfast: 7:30-8:00 am
Program: 8:00-9:00 am

The nature in which we address the care and housing of our seniors has evolved in recent years.  Developers, architects, builders, and healthcare providers have all seen the shift in the way we care for Maine seniors makes a drastic, positive impact on the senior residents, their families and the staff.  Maine has some unique challenges when it comes to providing for its’ aging population and it’s important that we respond by promoting safety, dignity, respect, choice and support for our older citizens.

Join MEREDA for breakfast on Wednesday April 26, 2017 from 7:30 – 9:00 AM at the Lunt Auditorium at OceanView in Falmouth as we discuss this sensitive, important topic.  We will also discuss the financial implications for this housing market and take a closer look at a few local facilities around Maine.

About the Panel:

Rebecca Dillon holds a passion for senior living design. As a Principal at Gawron Turgeon Architects, she provides sensitive solutions to designing for the aging population while seeing architecture as an exciting problem-solving process. Rebecca is a Registered Architect having earned her Bachelor of Architecture from Boston Architectural College. She is registered in the States of Maine, Massachusetts and Illinois, a member of the AIA and NCARB and LEED AP BD+C certified.   Rebecca’s level of expertise in health care and senior environments is extremely extensive. With over two decades of experience, she has created healing and homelike settings for assisted living, skilled nursing, nursing care, memory care, independent living, active adult living, adult daycare and hospice care; and her projects have earned numerous accolades and awards.

Bill Shanahan is President of Northern New England Housing Investment Fund (NNEHIF).  NNEHIF is a private, nonprofit corporation that specializes in tax credit syndication and offers consulting services to affordable housing developers in Maine and New Hampshire.  Bill is the Treasurer and serves on the Board of MEREDA, is Board Chair for the Maine Affordable Housing Coalition (MAHC), is on the Governing Board of Housing Action New Hampshire (HANH), and is the Vice President of National Association of State and Local Equity Funds (NASLEF).  Bill serves on the Board of the Genesis Community Loan Fund, a CDFI that provides financial resources for the creation and preservation of affordable housing and other community development activities and is on the Board of The Park Danforth. 

Chris Wasileski has been working for Sea Coast Management Company for 10 years, primarily on Real Estate Development project management, approvals, and design-build construction.  Sea Coast Management develops, owns and operates OceanView at Falmouth and Highland Green in Topsham.  Chris’s team on the Falmouth Schools Redevelopment project at OceanView received a 2014 MEREDA “Notable Project” award, and OceanView also received the 2017 Eco Maine “Top Business Leadership” award.

Chris has a background in Political Science with a focus on Environmental Politics, Energy Policy, and National Security as it relates to national resources.  Chris completed his MA in Political Science from the University of New Hampshire in 2010, and was one of two students selected to participate in a Pilot, Independent Study Project on Sustainable Politics and Policy.  Chris’s research and political interests have led to a focus on Clean Energy and Energy Efficiency in his career in Real Estate Development primarily in the Senior Housing Industry.

For more information and to register for this event, click here.

March 28, 2017 at 12:00 am · tkcDev · Comments Off on MEREDA’s 2017 Annual Real Estate Spring Conference is May 18th

MEREDA’s 2017 Annual Real Estate Spring Conference is May 18th

This event will offer a big picture perspective of how development is good for our future, and the rationale around smart growth development.  MEREDA is pleased to welcome Jesse Kanson-Benanav – a Boston-area pioneer in the YIMBY movement who has been instrumental as a leader on the frontlines of this potential sea change in the conversation about development—for a discussion about its present status and implications for the future.  His perspective will be augmented by a panel of local professionals who will anchor this national trend in local context. 

Attendees can expect to gain insight into the near future of community conversations about development, learn how to get more people to think more globally about development, and what it means for the real estate industry more broadly.

Attendees will learn about some of the roadblocks and some of the successful strategies to navigate the land use and zoning regulations to successfully get to a “YIMBY”. Some of those strategies include understanding the interplay between a city’s comprehensive plan and zoning codes, and which land use tools are also legal implements for a successful project review. 

MEREDA will also recognize the Top Notable Projects for 2016 and will unveil the newest "MEREDA Index" number.  This metric measures the pulse of the state’s commercial real estate industry, including sale and lease activity, construction starts and other data, aggregated into one figure as an indicator of this important sector of Maine’s economy.

Join us on May 18th at the DoubleTree by Hilton in South Portland, beginning at 12 noon, for what is sure to be an eye-opening and informational event!  Registration and additional details are available at MEREDA.org. The early bird deadline ends May 11.

March 13, 2017 at 12:00 am · tkcDev · Comments Off on 5th Anniversary ‘Strikes for Scholars’ Bowl-a-Thon Fundraising Event

5th Anniversary ‘Strikes for Scholars’ Bowl-a-Thon Fundraising Event

MEREDA is proud to host its 5th Annual "Strikes for Scholars" Fundraising Event at Bayside Bowl in Portland on May 4, 2017.  "Strikes for Scholars" supports scholarships for Maine students pursuing studies in building trades, architecture, construction, engineering or a business program at a Maine Community College (MCCS), or the College of Science, Technology & Health at the University of Southern Maine.  

MEREDA strongly supports a strong education system.  In fact, over the past 4 years, MEREDA is proud to have raised and donated over $47,000 in scholarships helping over 30 Maine students by making it a little easier for them to achieve their goal of obtaining a college credential. Last year alone, we raised enough funds to provide 16 $1500 sponsorships!                 

Many thanks to Landry / French Construction Company, AAA Energy Service Company, and Mainebiz for their continued support on our 5th Anniversary!  

We are looking for: 

• 24 Teams, up to six people
• 2 Additional Food Sponsors at $1000 each (Contact the MEREDA Office before March 20th in order to make the Mainebiz Ad print deadline!)
• Not able to bowl?  Come anyway, cheer on our teams, network, buy raffle tickets and support this worthy cause!  

What you get: 

• "Pay it Forward" with 100% of net proceeds funding the scholarship program
• Sponsorships provide high visibility on press Press Releases, publications, social media mentions, the MEREDA website and signage at the event.
• Opportunity to be creative!  Best Team Shirts gets a Summer Bowling Party!
• Opportunity to purchase raffle tickets for Cash Prizes!

What are you waiting for?  REGISTER NOW!  It fills up fast!  Please Download our Registration Form and return to info@mereda.org by April 1st.

We look forward to bowling with you soon!   

March 1, 2017 at 12:00 am · tkcDev · Comments Off on MEREDA’s Annual Spring Networking Social

MEREDA’s Annual Spring Networking Social

PORTLAND, ME – Thinking Spring?  Think MEREDA on March 23!  At this time of year, who isn’t already thinking about Spring?  Why not make plans now to join us at Ri Ra Irish Pub & Restaurant for MEREDA’s Annual Spring Social!  

MEREDA’s networking events attract key players in Maine’s real estate industry offering excellent opportunities to interact with the experts.  Join MEREDA on Portland’s waterfront on March 23 from 5 – 7 pm for Hors d’ oeuvres, Spirits, and Great Conversation as we welcome Spring back to Maine!  

Join MEREDA for a cocktail or two, and reconnect with colleagues and friends, both old and new!  This "can’t miss" event sells out every year, so sign up early!

About the Event:
March 23, 2017 – 5:00PM to 7:00PM

Ri Ra Irish Pub & Restaurant
72 Commercial Street
Portland, ME

Registering for this Event:

MEREDA Member: $45 each  | Non – Member: $60 each

Register After March 16:  Member: $55 each  |  Non-Member $70 each

Your RSVP is requested by March 16. Payment is expected at the time of registration. No refunds will be granted to anyone who registers, but fails to attend or who cancels after March 16.

MEREDA’s Annual Spring Networking Social is sponsored by Bernstein Shur, Katahdin Trust Company, and Landry/French Construction

Click here for more information and to register.

February 9, 2017 at 12:00 am · tkcDev · Comments Off on MEREDA Index shows Maine’s real estate industry reaches highest level in ten years, signifies “worker gap”

MEREDA Index shows Maine’s real estate industry reaches highest level in ten years, signifies “worker gap”

PORTLAND, Maine – "The second quarter of 2016 saw the Maine real estate industry reach the highest level in ten years, led by a 10% growth in the residential component” said Rick McCarthy, consultant with Eaton Peabody and board member with the Maine Real Estate & Development Association (MEREDA). McCarthy made his remarks at MEREDA’s sold out conference in mid-January, while unveiling The MEREDA Index, the economic indicator that measures the health of the state’s real estate sector.

But, all told, The MEREDA Index, which covers the middle two quarters of 2016, came in slightly lower than recent editions, at 93. The highwater mark gains were not sustained throughout, with a 4% drop toward the end of the period," said economist Dr. Charles Colgan, of the University of Southern Maine, who compiled the report for MEREDA.

“Overall, The MEREDA Index has grown in the last years, though we are seeing the first plateau since the post-2007 recovery," said Paul Peck, MEREDA president, a real estate developer and an attorney at Drummond & Drummond.

Peck and other industry insiders attribute these shifts to the “worker gap,” with a dearth of qualified candidates available to fill electrician, plumbing and other subcontractor positions, driving up the cost and increasing the timeline of construction.

The MEREDA Index is compiled biannually and is widely regarded as the primary tool for insiders to track changes in the market. Four experts from the state’s real estate sector offered commentary on the state of the market:

Following keynote remarks from Derek Langhauser, president of Maine’s Community College System, about that organization’s efforts to cultivate additional tradespeople in Maine, Peck announced that MEREDA has recently launched a subcommittee, alongside AGC Maine, to effect change in that area. "The 'worker gap' issue must be addressed if Maine is to benefit from continued economic investment, an expanded tax base in our neighborhoods and communities, and a robust tourism economy," he said.

Download the full Index report: http://mereda.org/documents/miscdocs/MEREDA_Index_Fall_2016.pdf .

This edition of The MEREDA Index was underwritten by Eaton Peabody, with support from CBRE | The Boulos Company, Wright-Ryan Construction, and The Press Hotel.

The next edition of The MEREDA Index will be Press Released at the organization’s spring conference on May 18; visit www.MEREDA.org for details and registration.

This edition of The MEREDA Index was underwritten by Eaton Peabody, with support from CBRE | The Boulos Company, Wright-Ryan Construction, and The Press Hotel.