August 19, 2016 at 12:00 am · tkcDev · Comments Off on MEREDA’s Morning Menu Breakfast Series Returns on September 8th: Alternative Project Delivery – the New Economic Development Opportunity

MEREDA’s Morning Menu Breakfast Series Returns on September 8th: Alternative Project Delivery – the New Economic Development Opportunity

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 from 7:30 – 9:00 AM 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.

This MEREDA "Morning Menu" Breakfast Event is Sponsored by Norway Savings Bank and Bernstein Shur.

For more information and to register, click here.

July 19, 2016 at 12:00 am · tkcDev · Comments Off on Maine Real Estate & Development Association Names New President and Announces 2016-17 Officers

Maine Real Estate & Development Association Names New President and Announces 2016-17 Officers

PORTLAND, Maine – Paul Peck, attorney at Drummond & Drummond and real estate developer with LWS Development LLC 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.

Paul succeeds Michael O’Reilly of Bangor Savings Bank who has led MEREDA for the past two years. “Mike has been a great inspiration to our fellow board members, and under his leadership, MEREDA remains committed and positioned for future growth and success”, said Peck.  “I welcome the opportunity to guide the organization in its continued pursuit of advocating for legislation in Augusta that encourages responsible development and sensible planning, as well as providing quality opportunities for learning and business development.”

Since joining the Board of Directors in 2010, Paul has chaired the Conference & Seminar Committee and also serves on its Executive Committee.

MEREDA also announced its 2016 / 2017 slate of officers which include President Paul Peck of Drummond & Drummond, Vice Presidents Bruce Jones of Creative Office Pavilion and Brian Curley of PDT Architects, Treasurer William Shanahan, of Northern New England Housing Investment Fund and Secretary Shelly R. Clark, who also serves full time as MEREDA’s Vice President of Operations.

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

June 30, 2016 at 12:00 am · tkcDev · Comments Off on Maine Real Estate & Development Association Recognizes Retiring Board Member

Maine Real Estate & Development Association Recognizes Retiring Board Member

PORTLAND, Maine – The Maine Real Estate & Development Association (MEREDA) has announced that Lawrence A. Wold, president of TD Bank has retired from MEREDA’s Board of Directors after 18 years of service. During this time, Larry served as president from 2000 – 2002 and was recognized with MEREDA’s Volunteer of the Year Award in 2003.  During his tenure, Larry spearheaded an initiative to assist with MEREDA’s new member recruitment efforts.  Fourteen years later, the TD Bank Membership Recruitment Matching Funds Program continues to help introduce new members to the organization and makes a major contribution to MEREDA’s continued growth and success. 

“MEREDA has benefited significantly from Larry’s wisdom, broad experience, and unwavering support through the years.  We are grateful and thank Larry for his countless contributions to the organization,” commented Shelly R. Clark, Vice President of Operations for MEREDA.

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

June 7, 2016 at 12:00 am · tkcDev · Comments Off on MEREDA Index comes in at a healthy 91

MEREDA Index comes in at a healthy 91

Last week, the Maine Real Estate & Development Association, announced that the latest MEREDA Index had achieved a healthy 91, indicating that as Maine sales continue to achieve high water marks for sales prices and square footage sold, there will be strong fluctuations from Press Release to Press Release. The MEREDA Index is an economic metric that measures the health of Maine’s commercial real estate market twice annually relative to pre-recession 2006 levels.

The previous MEREDA Index numbers came in at 100 and 110, in the fall and spring of 2015 respectively. Previous to that, the four MEREDA Indexes completed to date, between spring 2013 and fall 2014, had not managed to top 80.

“While the MEREDA Index appears to have dropped from the previous two Press Releases, that relates to the effect of the three large transactions – One and Two Portland Square and 100 Middle Street, all in Portland – primarily felt in the commercial component of the Index and, more specifically, square footage sold. However, the actual dip in commercial exclusive of these very large sales was small. The residential component was a primary positive driver; sales of existing homes and new mortgage originations both saw strong increasing trends,” said Michael O’Reilly, Senior VP at Bangor Savings Bank and MEREDA President, in making the announcement.

The Index has risen 5.2% over the past year, but the past six months have seen a more modest 1% growth, led by a very strong performance in the residential sector. This is as expected, as slower growth in the first and fourth quarters compared with the second and third quarters has become a common theme.

The commercial market component of the Index, which represents fifty percent of the total, suggests a slowing in this sector, up only point five percent over the past year and down slightly over the past six months. The volatile square foot sold and leased measure and the average sales price are the weak points.

The residential market comprises 40% of the Index. This is where we see double-digit growth in the three of the four components over the past year, leading to a strong 13.2% growth in the residential index. Residential permits are up 14%, mortgage originations are up 37%, and existing unit sales are up 17%. The median price index continued a steady climb, now at 95% of the 2007 peak, but the rate of growth in this index is usually the slowest of the residential components.

The construction component of the Index is 10% of the overall whole. Here, construction employment has been the slowest changing components of the Index, up only 12% since its lowest level in the first quarter of 2001 and still 14% below the 2006 level. That said, this report shows a fairly strong showing over the recent stretch, up 3.7% over the year and up 3.4% over the past six months.

“The lack of existing housing stock is driving demand for new residential construction in both the single family and condominium market,” said O’Reilly. “While the construction industry continues to deal with a workforce shortage, the construction component of the Index is exhibiting a gradual rise.”

In fact, the construction component of the MEREDA Index is now at its highest since 2008.

“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,” concluded O’Reilly.

Learn more about this important metric of Maine’s real estate economy by watching the video on our website.

Download the full spring 2016 MEREDA Index report.

View the MEREDA Index archives.

May 17, 2016 at 12:00 am · tkcDev · Comments Off on Maine Real Estate & Development Association Awards Top 6 Notable Projects of 2015

Maine Real Estate & Development Association Awards Top 6 Notable Projects of 2015

The Maine Real Estate & Development Association (MEREDA), the state’s leading organization for commercial real estate professionals, has announced the recipients of its 2015 Notable Projects Awards at its annual Spring Conference in Portland on May 17.

“MEREDA is thrilled to recognize these exemplary projects, all of which not only embody MEREDA’s belief in responsible real estate but also involved a significant investment of resources and job creation statewide,” noted Michael O’Reilly, President, MEREDA Board of Directors and Senior Vice President, Southern Maine Commercial Banking Team Lead, at Bangor Savings Bank.

Each of the selected six projects were selected for recognition based upon criteria including environmental sustainability, economic impact, energy efficiency, social impact and job creation.

The recipients of MEREDA’s Top 6 Most Notable Projects of 2015 included:

• In Bangor, the Circular Block Building: Robert Perry Builders;
• In Augusta, the Capital Judicial Center: Maine Judicial Branch;
• In Portland, the Press Hotel: Brady Enterprises;
• In Dover-Foxcroft, The Mill at Dover-Foxcroft: Arnold Development Group;
• In Portland, West End Place: LWS Investments and Redfern Properties; and
• In Biddeford, Pepperell Mill Campus: Doug Sanford

For more information about each of these impressive projects, please click here.

May 17, 2016 at 12:00 am · tkcDev · Comments Off on Employees ‘win career lottery’ at office of the future conference in Portland

Employees ‘win career lottery’ at office of the future conference in Portland

PORTLAND, Maine – 75 percent of employees, nationally, are not happy with the place they go to work, according to the research and design firm Gensler. Dean Strombom and Sven Govaars of Gensler traveled from Houston, TX to Portland to serve as keynotes at last week’s Maine Real Estate & Development Association (MEREDA) conference. The event, meant to discuss "the office of the future," included robust conversation about how place and technology work together, with real-world examples from Maine.

The good news, according to Strombom and Govaars, is that 30 percent of employees feel engaged and enjoy their work. That said, 18 percent of U.S. employees are unhappy, disengaged and undermine what their engaged colleagues accomplish, and 52 percent are disengaged (just show up, do their job and go home). The focus of the event was how to get that 52 percent engaged, and to discuss the reverberations for commercial real estate, the spaces we build, own, and lease and how the Maine market is changing as a result.

Case in point, the New England-based Creative Office Pavilion was on-hand and set up a sample office, featuring benches (instead of chairs) and a large communal table under a pergola. "This arrangement affords employees in an office to collaborate in a casual setting," said Bruce Jones, the company’s director of business development and a MEREDA board member. "Some of the best collaborations happen when folks are comfortable and able to share ideas with one another."

The conversation was augmented by a panel of executives from three Maine companies that have embraced the tremendous business opportunity that comes with providing choice to today’s enlightened worker.

One of those executives, Kathy Shafer, IDEXX’s senior director of worldwide facilities, said that employees at IDEXX can choose whether or not to have a fixed or mobile office, and that many are choosing the mobile. She said that a large part of what makes this work is a paperless environment with wireless printing and other technologies, such as Skype chats and meeting spaces equipped with flat screen TVs. Shafer also noted their wellness center with fitness classes and a health clinic run by Intermed, four dining centers across the campus, and opportunities for on-site gardening, cooking and dancing, which "combine to foster mental and physical health as an important aspect of work."

"We used much of that same toolkit," said Paul Larkins, director of corporate planning and construction at Unum Group. Like Shafer, Larkins noted that "teams define their own spaces" at his company. In fact, he said that only 63 percent of employees are in the office daily and that they "rely on engaged employees to stay on top of the trends and opportunities."

"Colorful, clean, engaging space means a lot," said Brett Austin, president of Kepware. "Real estate is our primary driver to ensure that employees feel they ‘win the career lottery.’ It’s a continuing conversation: we always try to help people live their lives while keeping them highly engaged. And, in fact, in 2015, 98% of our employees were ‘highly engaged.’ This has made Kepware a lot of money."

"Companies no longer have to undertake a massive expansion when they are adding new employees," said Brian Curley, MEREDA board member and president of PDT Architects. "Instead, companies can be creative in terms of reducing the amount of square footage needed for each employee and, instead, add amenities and features that keep employees engaged."

"The conversation offered great lessons for developers and builders here in Maine," said Michael O’Reilly, MEREDA president and senior VP at Bangor Savings Bank. "As more companies look to expand to Maine, where real estate is more affordable than other locales, and as we see increased development in the commercial real estate space, it’s important that we, as an industry, stay on top of these trends, which help improve employee engagement, performance and well-being, with benefits for companies’ bottom lines."

Click here to watch videos from MEREDA’s Annual Spring Conference “Office of the Future and the Future is Now” including speaker presentations and a Q&A session.

May 3, 2016 at 12:00 am · tkcDev · Comments Off on MEREDA’s Morning Menu Breakfast Event – Environmental Update: The Latest from the Trenches in Due Diligence and Changes at the Department of Environmental Protection

MEREDA’s Morning Menu Breakfast Event – Environmental Update: The Latest from the Trenches in Due Diligence and Changes at the Department of Environmental Protection

MEREDA’s Morning Menu Breakfast Event – Environmental Update:  The Latest from the Trenches in Due Diligence and Changes at the Department of Environmental Protection

Join the Maine Real Estate & Development Association (MEREDA) for breakfast on June 7, 2016 from 7:30 – 9:00 AM at the Clarion Hotel in Portland for an update on Due Diligence and Changes at the Department of Environmental Protection.

After several decades of living with environmental liabilities, most developers and brokers understand the road map through environmental issues, and the value of an environmental site assessment.  

BUT – completing All Appropriate Inquiry, obtaining liability protections – AND getting the deal done in a timely and cost effective manner?  Is it possible?   It can be done, but only if you know the path forward, avoid the pitfalls, and execute the plan appropriately.  Come learn from the mistakes of others, so your transaction goes smoothly.  

This breakfast seminar will focus on practical problem-solving strategies to keep deals on track and resolve environmental issues.  And the DEP VRAP is here to help. Really. 

Whether you are:  buying, selling, or leasing property,  a potential owner, or potential lessee, a lender or bank,  a developer or municipal or county planner, or an environmental professional or brownfields specialist, you will not want to miss this breakfast briefing.   

Registering for this Event:

Member: $45pp | Non-Member: $55pp 
Prices increase by $10 after June 1st

Your RSVP is requested by June 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 June 1st. 

For more information and to register, click here

Sponsored by:  Norway Savings Bank

April 21, 2016 at 12:00 am · tkcDev · Comments Off on Nationally renowned architects to headline MEREDA’s spring conference

Nationally renowned architects to headline MEREDA’s spring conference

PORTLAND, Maine – The Maine Real Estate & Development Association announced today that two nationally renowned experts will travel to Portland next month to keynote the group’s annual spring conference scheduled for Tue., May 17 and entitled “Office of the Future.”

Architects Dean Strombom and Sven Govaars, from the Houston, TX-based Gensler, will lead a conversation about how place and technology work together to improve employee engagement, performance and well-being, with benefits for companies’ bottom lines.

“It is a coup to have these guys in Maine. The pair will offer real world examples of these trends, and why company leadership ought to embrace them,” said Brian Curley, MEREDA board member and president with PDT Architects. “Attendees will learn how to put these ideas into action, deal with resistance to change and measure the benefits of this new way of working.”

The conversation will be augmented by a panel of executives from three Maine companies that have embraced the tremendous business opportunity that comes with providing choice to today’s enlightened worker. Additionally, attendees will learn about the reverberations for commercial real estate, the spaces we build, own, and lease and how the Maine market is changing as a result.

The event is perfect for developers, workers, architects, facility managers and others who operate in the commercial real estate and construction space. “Office of the Future” is scheduled for Tue., May 17 at the Holiday Inn by the Bay in Portland, beginning at 12 noon. Registration and additional details are available at MEREDA.org. The early bird deadline ends on May 11.

April 11, 2016 at 12:00 am · tkcDev · Comments Off on Office of the Future to be unveiled May 17

Office of the Future to be unveiled May 17

PORTLAND, Maine – The Maine Real Estate & Development Association (MEREDA), the trade association for commercial real estate in Maine, will host a half-day conference about the “Office of the Future” on Tue., May 17 in Portland.

“These so-called ‘new offices’, without cube-farms and, instead, conferencing and meeting spaces that look more like living rooms, offer positive impacts for companies,” said Bruce Jones, a MEREDA board member and executive with Creative Office Pavilion. “Place and technology work together to improve employee engagement, performance and well-being. MEREDA is excited to bring this conversation to Maine.”

Motivated by the rapid changes to work styles, expectations of younger generations and accelerating technological advances that have disrupted conventional notions of the office, workers have abandoned the cubicle, first introduced 50 years ago, for buildings which require less square footage, demand more open, flexible and adaptable environments, and pay dividends on the bottom line.

The event takes place on Tue., May 17 at the Holiday Inn by the Bay in Portland, beginning at 12 noon. Registration and additional details are available at MEREDA.org. The early bird deadline ends May 11.

March 14, 2016 at 12:00 am · tkcDev · Comments Off on MEREDA’s Morning Menu – “Historic Masonry Reborn” – the care of historic brick and stone buildings in Maine

MEREDA’s Morning Menu – “Historic Masonry Reborn” – the care of historic brick and stone buildings in Maine

Join the Maine Real Estate & Development Association (MEREDA) on April 5th at DaVinci’s Eatery in Lewiston to learn how to address the  challenges of repairing historic masonry buildings.  Our panelists will review how to analyze the conditions of existing buildings, propose solutions that meet budget, design and constructability considerations  as well as ensure the Secretary of Interiors Standards for Rehabilitation are met. As stewards of Maine’s historic buildings, owners and developers want to work to keep and maintain real value and this conversation will help us all do just that.

This work is a team sport and the presenters will discuss the role of each team member and review critical design considerations as well as how the end product will meet historic standards while meeting performance objectives.
Click here for more information and to register.

This MEREDA "Morning Menu" Breakfast Event is Sponsored by Norway Savings Bank and Building Envelope Specialists.