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June 7, 2023 at 1:10 pm · · Comments Off on Maine Real Estate & Development Association Awards Top 7 Notable Projects of 2022

Maine Real Estate & Development Association Awards Top 7 Notable Projects of 2022

The Maine Real Estate & Development Association (MEREDA), the state’s leading organization promoting responsible real estate development, honored projects from Portland to Biddeford to Bangor, with each receiving special recognition at MEREDA’s 2023 Spring Conference on May 25th.

Each year, 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 2022, 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.

Each of the seven projects was selected in part based upon criteria including: noteworthy and significant project completed* in 2022 (*Building Occupancy Permit issued by 12.31.22), environmental sustainability, economic impact, energy efficiency, social impact, uniqueness, difficulty of development and job creation.

The recipients of MEREDA’s Top 7 Most Notable Projects of 2022 include:

  • Chinburg Properties and LHL Holdings’ Lincoln Hotel & Lofts in Biddeford, is another successful adaptive re-use of a former textile mill in the expansive Biddeford/Saco Mills Historic District. The city of Biddeford saw the potential in restoring the mills and supported the effort of this project and others with community support, infrastructure improvements, and thoughtful planning. The Lincoln Mill was converted into a vibrant mixed-use property by the team of Chinburg and Atlantic Holdings and is now home to The Lincoln Hotel, a 33-room boutique hotel, 147 modern apartments, Batson River Restaurant, Impact Fitness, and Immortalata Nutrition. The property is the first in southern Maine with a rooftop pool and social space.
  • Community Concepts, Inc. & Avesta Housing’s Gauvreau Place is located in the heart of Lewiston. Gauvreau Place has great significance for the community. Developed by Community Concepts Inc. (CCI) in partnership with Avesta Housing, Gauvreau Place consists of 35 apartments, of which 28 are affordable and seven are market rate. Energy efficiency features include a building envelope equipped with high R-value insulation that exceeds building codes, water-conserving fixtures, and Energy Star qualified windows, appliances, and lighting. Gauvreau Place provides much-needed affordable housing for Lewiston, where rents have increased significantly in recent years. Among the new residents, there are 17 households who were living in a shelter or a hotel when they applied, and four households at risk of becoming homeless.
  • Bateman Partners, LLC’s Shipyard Brewing Redevelopment in Portland, is truly a mixed-use development, consisting of office, pharmaceutical manufacturing, brewery, hotel, and residential uses, all wrapped around, and over, a pre-cast concrete parking structure. Bateman Partners was asked by Shipyard Brewing to participate in the redevelopment of this property and the final plan created over 450,000 SF of new structures, representing the largest project built on the Portland peninsula in over 35 years. One of the major challenges faced during construction were the existing site conditions. The environmental remediation of the underlying soils, which were contaminated, required over $2M dollars in removal costs. The completed project represents an example of how a collaborative effort between the city, abutting neighbors, and owners can accomplish responsible development that is meaningful.
  • Portland Foreside Development Company’s Reconstruction & Reuse of Historic Building 12 in Portland has embarked on a multi-phased project to revitalize and reimagine a 10-acre neighborhood along Portland’s historic eastern waterfront. The reconstruction and reuse of Historic Building 12 was a complex piece of this larger project. After a detailed evaluation found it to be in poor condition, Foreside Development worked with a talented team, including the City of Portland, to undertake significant planning, permitting, documentation and preservation efforts that resulted in the disassembly, relocation, and reconstruction of historic Building 12. With careful documentation of the original building, including 360 laser scans of the facades, the original masonry structure was fully disassembled. The brick was cleaned and stored, and the post and beam timber, as well as salvageable joists and floorboards, were saved for reuse. The Building 12 footprint was then relocated 200 feet from its original location to a new home at 115 Thames Street, making way for construction of the roadway network identified in the City’s Master Plan. Historic Building 12 now houses a restaurant (TWELVE), office space, and a residential condominium, and has maintained its most notable feature – the recognizable ‘Portland Co.’ sign painted on the exterior western facade.
  • Zachau Construction’s L.Bean Corporate Headquarters in Freeport, a $110M, 390,000 SF Building, sits prominently on Route 1 in Freeport and has unique building features, including large entrance columns and a 900-seat conference center and events center. L.L.Bean decided to redevelop an existing warehouse building and create an office for the entire company to share. With multiple gathering spaces throughout the headquarters, it’s designed to be a place of collaboration. The pandemic actually expedited the project timeline by almost two years while L.L.Bean had their employees working from home. By providing this new facility for their employees, L.L.Bean is investing not only in the state but in their people.
  • Developers Collaborative’s Freedom Place at 66 State Street in Portland originally planned to be redeveloped into market-rate condominiums, a new vision was created for the building as a transitional housing complex for women after Developers Collaborative built a relationship with Amistad, a non-profit social services agency. Known as Freedom Place, this fulfills a significant unmet need in the Portland community and is a rare example of anti-gentrification. The facility provides residents with 38 single-occupancy bedrooms, communal bathrooms and kitchens, and gathering spaces, and Amistad offers residents wrap-around services including vocational training and treatment and recovery programming. Furthermore, to provide a full continuum of housing options for the community, a second phase of development providing 30 additional units of affordable housing is currently under construction on the site. The project enhanced the energy efficiency of the existing building and reinvigorated the existing on-site geothermal well to provide heating and cooling to both Freedom Place and the adjacent new affordable housing development. Freedom Place’s geothermal well has the distinction of being the first built in the city of Portland.
  • JB Brown & Sons & FD Stonewater’s 68,000 square foot Department of Veteran Affairs / New Community-Based Outpatient Clinic in Portland services more than 100,000 Maine veterans with primary care and specialty health services. The clinic also serves as a teaching site with space dedicated to enhancing affiliate relationships with Tufts Medical School and Maine Medical Center. The exterior design honors veterans, incorporating large graphics of service members in the two-story glass entry. An adjacent three-story, 385-space parking garage offers easy access into the clinic with a drop-off circle. Equipped with over 1,500 Solar Panels, the Clinic is the largest parking garage-mounted solar canopy in the State. The project also added a 10-foot pathway running the 1,400-foot length of the property, making the West End neighborhood more pedestrian-friendly.

MEREDA congratulates its 2022 Notable Project Award Recipients and thanks its Membership for their continued commitment to responsible development in Maine.  Each project will be recognized in the Maine Real Estate Insider e-newsletter published by Mainebiz, running Summer of 2023.

For more information on these impressive projects, please click here or visit www.mereda.org.

June 6, 2023 at 10:00 am · · Comments Off on Listen Up! The June 2023 Episode of the “MEREDA Matters” Podcast is Now Available!

Listen Up! The June 2023 Episode of the “MEREDA Matters” Podcast is Now Available!

A Conversation with Deirdre Wadsworth, President of Hardypond Construction

Deirdre Wadsworth, President of Hardypond Construction, sits down with MEREDA Vice President Shannon Richards and MEREDA President Craig Young for the sixth episode of MEREDA Matters – the podcast that puts you in the room with the people who are driving responsible development in Maine. Wadsworth discusses the type of projects Hardypond specializes in, and how they are often completing renovations on buildings that are occupied. As one of three women in Maine to own a commercial construction company, Wadsworth talks about her journey from sweeping floors at the jobsite as a kid and hating construction to earning an MBA and taking over her dad’s company in her thirties. Wadsworth goes on to share her management style and how hiring a business coach was one of the best things she did when she decided she wanted to run Hardypond.

The group discusses the challenges in construction, such as material pricing and delays, and how this new norm requires a focus on scheduling and ordering materials upfront. The group also talks about how much has changed for women working in the industry over the last decade and why it’s so important to include women’s perspectives in development and construction.

What is one of the best books Deirdre has read recently? Listen to the conversation to find out! https://mereda-matters.simplecast.com/

Catch up on past episodes while you’re there!

The MEREDA Matters podcast is sponsored by NBT Bank and Landry French Construction. Additional sponsors include Bangor Savings Bank, Clark Insurance, and The Boulos Company. A new episode will be released each month and each will feature new voices from the real estate and development industry.

June 6, 2023 at 6:00 am · · Comments Off on Building Solutions: MEREDA Spring Conference Tackles Housing Crisis

Building Solutions: MEREDA Spring Conference Tackles Housing Crisis

PORTLAND, Maine – On Thursday, May 25th, the Maine Real Estate & Development Association (MEREDA) hosted its annual Spring Conference where some 300 real estate professionals gathered at the Holiday Inn By the Bay, as well as virtually, to discuss solutions to Maine’s housing crisis. A complex issue rife with challenges such as low housing inventory, rising construction costs, labor shortages, inflation, and a possible economic recession on the horizon, the MEREDA event provided an opportunity for industry professionals to come together to learn from both local, regional, and national experts with a range of perspectives and insights.

“Housing is perhaps the most important topic for our state and our industry. We need more housing; more affordable housing, more workforce housing, more multi-families, more single-families…more everything,” said MEREDA President Craig Young. “It impacts our economy and it impacts the well-being of Mainers in every community. You simply cannot discuss development without discussing solutions for Maine’s housing crisis. To tackle important issues like this, we need to create opportunities to foster discussions with people who have different ideas and opinions. Let’s talk with each other and learn from each other and work with each other.”

With the goal of learning from different perspectives, the event kicked off with Keynote Speaker Sonja Trauss, the Executive Director of YIMBY Law, a national organization with the mission of ending the housing shortage and achieving affordable, sustainable, and equitable housing for all. YIMBY, or “Yes in My Back Yard,” was founded in San Francisco and now has 43 chapters in 19 states. Trauss is known for her relentless pursuit of affordable housing solutions and her innovative approach to addressing the nation’s housing crisis. She outlined YIMBY’s methods for organizing and fighting for housing solutions in communities, stressing how communities need people to speak up for housing and participate in local politics. “We need regular people speaking up for housing. If we don’t organize, only NIMBY shows up.” Trauss went on to discuss some of the policies that support abundant housing for communities, such as legalizing Accessory Dwelling Units (ADUs) and streamlining permitting.

Trauss’s national perspective was followed by a presentation on the macro-economic forces impacting housing by Kenneth J. Entenmann, the Chief Investment Officer and Chief Economist at NBT Bank. Situating the housing crisis within the classic economic equation of supply and demand, Entenmann’s discussion ranged from the definition of a recession to interest rates, and from the banking crisis to his concerns on the commodity market. Next, Elizabeth Frazier of Pierce Atwood, provided an update on the state-wide policies that are supporting housing creation and the current list of priorities for the state’s Housing Committee.

After a recognition of MEREDA’s 2022 Notable Project recipients and the reveal of the MEREDA Index, a key economic indicator for Maine, the conference concluded with a panel discussion featuring Nathan Szanton of The Szanton Company, Daniel Stevenson of the City of Westbrook, along with Keynote presenters Sonja Trauss and Kenneth Entenmann. The panel was moderated by Shannon Richards, Founder of Hay Runner and a MEREDA Vice President, as well as John Finegan, an Associate Broker at The Boulos Company. The dynamic discussion highlighted the wide range of intersecting issues at play when discussing housing solutions. Szanton provided insight into the complex way affordable housing projects are funded, while Stevenson discussed the success the City of Westbrook has had in facilitating and promoting housing creation, sharing several recent projects. The panel went on to discuss the dynamics affecting housing prices, the demographics of housing buyers, and the impact from the lack of young people entering the trades for a career. A question on whether Inclusionary Zoning (IZ) was an effective way to make housing more affordable, led to a discussion of some of the unintended consequences of it, such as how there have been no new housing projects over ten units since Portland’s IZ ordinance was passed. Trauss gave a helpful analogy, saying, “You’re taxing new housing. We tax things we don’t want, like cigarettes. You’re taxing density.” The panel all agreed that the ordinance was having the opposite effect of its intention.

MEREDA’s Spring Conference brought together people from across industries and experts from across the country to tackle Maine’s Housing crisis and propose solutions. While some specifics were debated, at the end of the day everyone agreed that Maine simply needs more housing, and that any kind of new housing development will help lower the cost of housing.

May 31, 2023 at 1:00 am · · Comments Off on MEREDA’s Annual “Strikes for Scholars” Bowl-a-Thon Fundraiser Raises Funds for Scholarships for Maine Students

MEREDA’s Annual “Strikes for Scholars” Bowl-a-Thon Fundraiser Raises Funds for Scholarships for Maine Students

MEREDA is thrilled to announce that it’s 2023 Strikes for Scholars Bowl-a-Thon Fundraiser was a great success! MEREDA is 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 Maine. 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!  All net proceeds from the event will support students pursuing studies and experience in the building trades.

MEREDA’s Board of Directors made the decision this year to provide $5,000 designated towards scholarships to each of the following:  Associated General Contractors of Maine’s Education Foundation, Associated Building and Contractors of Maine, and the ACE Mentor Program of Maine.

MEREDA began its scholarship program for students in the building trades and professions 11 years ago and has continued to grow and support the program. Since the fundraiser’s inception, MEREDA is proud to have raised and donated over $166,000 to deserving Maine students. This includes this year’s donation of $15,000!

We are deeply appreciative of everyone involved in this event, sharing our goal of supporting Maine’s students pursuing education related to construction, design, engineering, and architecture. Our Sponsor Machias Savings Bank, as well as our bowling teams, and those who purchased raffle tickets!

Additional thanks to the folks at Port Property for allowing us the use of their Lancaster Street parking lot to help with the overflow of guests.

 

May 30, 2023 at 9:25 am · · Comments Off on Interest Rates Take a Bite Out of Real Estate in 2022: 2023 MEREDA Index Unveiled at Spring Conference

Interest Rates Take a Bite Out of Real Estate in 2022: 2023 MEREDA Index Unveiled at Spring Conference

On May 25th, over 300 real estate insiders gathered both in-person at the Holiday Inn By the Bay and virtually for the Maine Real Estate & Development Association’s (MEREDA) annual Spring Conference. As part of the Conference, MEREDA released its 17th edition of the MEREDA Index. A key economic indicator for the state of Maine, the latest edition of the MEREDA Index showed a decline of 0.8% between 2021 and 2022. The decline was driven by the typically thriving residential sector, which fell 7.3% as interest rates began to seriously bite into the market. However, the commercial market and construction sector saw some solid growth in 2022. Beyond the data, the MEREDA Index also highlights “boots on the ground” perspectives from leading experts in Maine’s real estate industry which help to paint a full picture of the activity in the marketplace.

“2022 was another fascinating year for Maine’s real estate economy, with strong demand, limited supply, and inflation impacting the shape of the markets,” shares MEREDA President Craig Young. “With residential prices continuing to increase, buying a home in Maine remains a challenge. We want people moving to Maine, and we also want the Mainers who already live and work here to be able to access safe and affordable housing. This truly is the issue our generation must collaborate on to find viable solutions that move our state in the right direction.”

The MEREDA Index is a measure of real estate activity designed to track changes in Maine’s real estate markets. The Index is a composite of nine seasonally adjusted measures reflecting both new development and transactions involving existing properties and it covers both the commercial and residential markets statewide. This most recent edition covers the year 2022. The MEREDA Index was tabulated by economist Dr. Charles Colgan with commentary from Stephen Nahley of East Brown Cow, Leanne Nichols of Keller Williams Realty, and Drew Wing of Zachau Construction. This edition of the MEREDA Index was underwritten by Eaton Peabody, with support from Katahdin Trust Company and XPress Copy.

To download a copy of the report or watch a video about the MEREDA Index, please visit www.mereda.org.

May 16, 2023 at 6:00 am · · Comments Off on Solving Maine’s Housing Crisis

Solving Maine’s Housing Crisis

MEREDA to Host Dynamic Panel Discussion at Spring Conference

PORTLAND, Maine – On May 25, 2023, the Maine Real Estate & Development Association (MEREDA) will host a vital and forward-looking conference on Maine’s housing crisis. Facilitating a sophisticated and multifaceted discussion, MEREDA’s Spring Conference brings together a line-up of thought-provoking and informative speakers and panelists to explore solutions to one of our state’s biggest concerns – housing.

“Housing is the topic on everyone’s minds and we need to be having more conversations with more people about solutions to this crisis,” says MEREDA President Craig Young. “We want to go beyond NIMBY and policy debates to really explore this issue in new ways. Our Spring Conference brings together both industry experts and thought leaders to provide an opportunity for us to learn fresh ideas and think creatively.”

MEREDA will host a keynote speaker Sonja Trauss of the San Francisco housing advocacy group, Yes in My Back Yard. Complementing her national perspective, the conference will include an economic presentation from Kenneth J. Entenmann of NBT Bank and a Maine housing presentation from Elizabeth Frazier of Pierce Atwood. Building upon their contributions, the stage will later turn to a moderated discussion with Trauss, Entenmann, as well as Nathan Szanton of The Szanton Company, and Daniel Stevenson from the City of Westbrook. The panel will be moderated by Shannon Richards of Hay Runner and John Finegan of The Boulos Company.

MEREDA will also unveil its 2023 MEREDA Index, which is underwritten by Eaton Peabody, and supported by Katahdin Trust Co. and XPress Copy; as well as recognize its 2022 Notable Project recipients at the Spring Conference. According to MEREDA’s Executive Director, Shelly Clark, the conference will be held at The Holiday Inn By the Bay from 1pm to 5pm on Thursday, May 25 with a virtual attendance option. In-person attorney and architect attendees are eligible for Continuing Education Credits. This event is sponsored by NBT Bank, Sebago Technics, Evernorth, Haley Ward, Mainebiz, BELFOR Property Restoration, Criterium Engineers, Efficiency Maine, Pierce Atwood, Pouliot Real Estate, and Sevee & Maher Engineers. For more information, or to register for the conference please visit www.mereda.org.

April 26, 2023 at 2:55 pm · · Comments Off on MEREDA Announces Appointment to its Board of Directors

MEREDA Announces Appointment to its Board of Directors

Erik Jorgensen of Portland 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. Erik is senior director of Government Relations and Communications at the Maine State Housing Authority (MaineHousing). In that role, he serves both on the agency’s senior management team and as its primary legislative and congressional liaison. Prior to joining MaineHousing, he served eight years in the Maine House of Representatives, where he represented Portland and sat on the Appropriations and Financial Affairs Committee.

Erik has more than 20 years of experience in nonprofit and foundation leadership. His other professional background includes service as the Administrative Trustee of the Morton-Kelly Trust and Executive Director of the Maine Humanities Council, Maine’s statewide affiliate of the National Endowment for the Humanities.

He holds a BA from Bowdoin College and an MPA from Harvard University.

“Erik will be a great addition to the MEREDA board. He has been active already on MEREDA’s Public Policy Committee, and we look forward to his participation now at the board level”, says Shelly R. Clark, Executive Director for MEREDA.

For further information, please contact MEREDA’s Executive Director, Shelly R. Clark at 207-874-0801 or visit www.mereda.org.

 

April 19, 2023 at 3:00 pm · · Comments Off on MEREDA’s 2023 Annual Spring Conference: Solving Maine’s Housing Crisis is May 25th

MEREDA’s 2023 Annual Spring Conference: Solving Maine’s Housing Crisis is May 25th

Maine’s Housing Crisis is characterized by a shortage of affordable housing options, a high demand for rental properties, and an increase in housing costs that exceed wage growth. This crisis is exacerbated by a lack of new construction and an aging housing stock that requires costly renovations to meet modern standards. Additionally, homelessness, lack of workforce housing, and housing insecurity are significant issues, with many individuals and families struggling to find stable housing. From rent-burdened tenants to employee recruitment, homelessness and unattainable housing, Maine’s Housing Crisis is an issue that negatively impacts daily life for all Mainers in one way or another.

MEREDA’s 2023 Spring Conference takes a deep dive into Maine’s housing crisis through the lens of a diverse group of speakers who will provide their viewpoints and experiences.

Check out the great lineup of experts joining us! 

Save the Date and make plans to join your colleagues and other professionals at MEREDA’s 2023 Spring Conference!  We’ll also unveil the 2023 MEREDA Index, as well as recognize our 2022 Notable Project Recipients.

 

In Person OR Virtual. Pre-Registration Required.

Where:

Holiday Inn By the Bay

88 Spring Street

Portland, ME

When:

May 25, 2023 @ 1:00 – 5:00 PM

Registering for this Event:

Members: $85 each | Non-Members: $125 each

Prices increase by $15 after May 18.

Registration Closes at 5:00pm on May 24, 2023.

Your RSVP is requested by May 18. 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 May 18.

CLICK HERE for more information and to register.

 

The MEREDA Spring Conference is generously supported by Gold Sponsors NBT Bank and Sebago Technics.  Silver Sponsors Mainebiz and Haley Ward.  Bronze Sponsors Belfor Property Restoration, Efficiency Maine, Pierce Atwood, Pouliot Real Estate, & Sevee & Maher Engineers.

March 15, 2023 at 4:12 pm · · Comments Off on Join MEREDA’s Emerging Leaders Committee for its next Lunch & Learn Event!

Join MEREDA’s Emerging Leaders Committee for its next Lunch & Learn Event!

April 5, 2023 – 11:30 AM – 1:00 PM

In-Person – Pre-registration is required.

Holiday Inn By the Bay
88 Spring Street
Portland, ME

Lunch: 11:30-12:00
Program: 12:00-1:00

About the Event:

Meet a Broker: A Broker’s Role in the Development Process

Join MEREDA’s DevelopME Committee for its next Lunch & Learn Event! This event will feature three top producing real estate brokers with a diverse range of experiences, ranging from condominium conversions to large multi-unit leasing, and retail and industrial space development deals. This will be the first in a continuing series on the various team members and their roles throughout the development process.

Participants include John Finegan, Associate Broker at The Boulos Company, and Elise Loschiavo, Partner, Broker at Vitalius Real Estate Group.

DevelopME Committee Co-chairs, Matt Pitzer of Simpson Gumpertz & Heger and Gwen Hulit of Bangor Savings Bank will moderate the program.

Click here for more information and to register.

Sponsored by: Bangor Savings Bank & Sebago Technics

February 15, 2023 at 12:14 pm · · Comments Off on MEREDA’s Morning Menu: A Peek into Developing Boutique Hospitality in Maine

MEREDA’s Morning Menu: A Peek into Developing Boutique Hospitality in Maine

FOR IMMEDIATE RELEASE

Join us as we discuss the “ins and outs” of developing businesses and real estate in the hospitality industry. As one of the largest contributors to the Maine economy, the hospitality industry is not without risk – our panel will discuss key points, drivers, successes and challenges of owning restaurants, hotels and breweries in Maine – and why these owners continue to invest in “Vacationland”.

About the Event:

In Person. Pre-Registration Required

Where:
Holiday Inn By the Bay
88 Spring Street
Portland, ME

When: March 8, 2023

Time:
Buffet Breakfast: 7:30 – 8:00 AM
Program: 8:00 – 9:00 AM

We welcome Casey Prentice, President of The Prentice Organization, Joshua Miranda, owner and founder of the Miranda Group, and Thomas Madden, Brewer & Co-Founder of Lone Pine Brewing Company. MEREDA Vice President Shannon Richards of Hay Runner will moderate.

Registering for this Event:
Members: $45 each | Non-Members: $55 each
Prices increase by $10 after March 1.

Refund Policy: Your RSVP is requested by March 1. 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 1.

For more information and to register, visit https://mereda.org/event/meredas-morning-menu-boutique-hospitality/ 
This MEREDA Morning Menu Breakfast Event is Sponsored by Norway Savings Bank.