MEREDA Celebrates Real Estate Development in Maine and Recognizes 2012 Top Notable Projects

From l. to r. Drew Sigfridson, MEREDA President, Peter Connell, Ocean Properties, Ltd., Amy Cullen, The Szanton Company, Bill Bola, University of New England, Debora Keller, Avesta Housing, Matt Peters, Avesta Housing, Shelly R. Clark, MEREDA Business & Operations Manager.

l. to r., Drew Sigfridson, MEREDA President, Peter Connell, Ocean Properties, Ltd., Amy Cullen, The Szanton Company, Bill Bola, University of New England, Debora Keller, Avesta Housing, Matt Peters, Avesta Housing, Shelly R. Clark, MEREDA Business & Operations Manager.

PORTLAND, Maine– Drew Sigfridson, president of the Maine Real Estate & Development Association (MEREDA), the state’s leading organization for commercial real estate professionals, has announced the 2013 recipients of awards presented at MEREDA’s Annual Real Estate Spring Conference on May 22nd.

Annually, MEREDA recognizes the most noteworthy and significant Maine commercial development projects from the previous year, all of which embody MEREDA’s belief in responsible development. For 2012, MEREDA’s leadership chose to recognize six notable development  projects that were deemed “noteworthy & significant” by MEREDA’s leadership.

Honorees included:  Ocean Properties, Ltd. for the West Street Hotel in Bar Harbor, Avesta Housing for Oak Street Lofts in Portland, Park Street School in Kennebunk, and Emery School in Biddeford, The Szanton Company for The Lofts at Bates Mill in Lewiston, and the University of New England for the Harold Alfond Forum in Biddeford.

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Maine’s Most Notable Commercial Development Projects to be Recognized on Wednesday, 5/22

Bar Harbor, Lewiston, Portland, Kennebunk and Biddeford projects to receive awards from Maine Real Estate & Development Association

The Maine Real Estate & Development Association (MEREDA) will recognize the six most notable 2012 commercial development projects in Maine at its annual spring conference on Wednesday, May 22.

All of the projects being recognized embody MEREDA’s belief in responsible development; each was completed in 2012 and all are fully tenanted. Projects were selected based upon the following additional criteria:

  • Environmentally sustainability
  • Economic impact
  • Energy efficiency
  • Social impact
  • Job creation

Projects include:

  • Bar Harbor: West Street Hotel by Ocean Properties, Ltd.
  • Lewiston: The Lofts at Bates Mill by The Szanton Company
  • Biddeford: Harold Alfond Forum by the University of New England
  • Portland: Oak Street Lofts by Avesta Housing
  • Kennebunk: Park Street School by Avesta Housing
  • Biddeford: Emery School by Avesta Housing

Representatives from each of the above projects will be at the event to receive an award.

For more information about the conference and to register, visit www.mereda.org.

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Maine Real Estate & Development Association to Welcome National Retrofitting Expert to May 22 Conference in Portland

National expert to be joined by local panel for event entitled “The Retrofitting Movement: Repositioning Underutilized Commercial Real Estate” 

PORTLAND, Maine (May 3, 2013) – The Maine Real Estate & Development Association (MEREDA) will host a conversation around the cutting-edge concept of retrofitting and creative re-use planning at their annual spring conference, scheduled for May 22 in Portland. MEREDA will welcome to Maine a leading expert on the topic of retrofitting, Ellen Dunham-Jones, and will host a panel of local experts. Additionally, MEREDA will recognize the six most noteworthy and significant Maine commercial development projects from the previous year at the conference.

Dunham-Jones is a leading authority on suburban redevelopment.  She has been featured in The New York Times, Harvard Business Review, Harvard Design Magazine, Urban Land, Planning, Architectural Record, TEDx and other venues. Co-author of Retrofitting Suburbia, Dunham-Jones will share case studies of underperforming asphalt properties that have been redesigned and redeveloped into vital centers of community. Her presentation will focus on adaptive reuse of vacant buildings, environmental repair, revising zoning codes and public works standards and providing easements for future connectivity and adaptability.

Local experts who will participate on the panel include Sarah Schindler of the University of Maine School of Law, Denis Lachman of Lachman Architects & Planners, Tex Haeuser of the City of South Portland, Vanessa Farr of the Town of Yarmouth and Craig Gorris of The Maine Mall. Each have been involved in the retrofitting movement and will support Dunham-Jones’ presentation by addressing some of the practical challenges and opportunities with respect to retrofitting in Maine communities.

“Retrofitting is one of the important trends in play all around the country and MEREDA is pleased to host this discussion. Ellen is a true expert and it’s a real boon to have her in Maine,” said Drew Sigfridson, MEREDA President. “Attendees will explore how Maine communities, large and small, can reach their architectural, cultural, and economic potential by making best use of scarce community resources to enhance commerce, walkability and community heritage.”

MEREDA will also recognize the six most notable 2012 commercial development projects in Maine, all of which embody MEREDA’s belief in responsible development; projects include:

West Street Hotel in Bar Harbor by Ocean Properties, Ltd.
The Lofts at Bates Mill in Lewiston by The Szanton Company
Harold Alfond Forum in Biddeford by the University of New England
Oak Street Lofts in Portland by Avesta Housing
Park Street School in Kennebunk by Avesta Housing
Emery School in Biddeford by Avesta Housing

Sigfridson notes that MEREDA hosts a spring conference annually, and that while everyone is welcome, the intended audience is real estate developers and their allies, such as attorneys, architects, engineers, bankers, realtors, planners, municipal officials and/or “anyone interested in a creative and useful tool that creates value while enhancing community.”

MEREDA’s “The Retrofitting Movement: Repositioning Underutilized Commercial Real Estate” will take place on Wednesday, May 22 at the Holiday Inn By the Bay in Portland from 1 to 5 pm, with a social hour to follow. Admission is $95 and pre-registration is required. MEREDA members are offered a $20 discount and, this year, students and municipal officials and employees are offered free admission with pre-registration.

The conference is sponsored by Blais Civil Engineers, Libby Hill, Mainebiz, Pierce Atwood, EnviroVantage, Building Envelope Specialists, Bar Harbor Bank & Trust, SMRT and Sevee & Maher Engineers.

For more information and to register, click here.

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MEREDA’s Strikes for Scholars Bowl-a-Thon a Huge Success!

On May 2nd, the Maine Real Estate & Development Association (MEREDA) hosted its first annual “Strikes for Scholars” Bowl-a-Thon Fundraising Event at Bayside Bowl in Portland and raised over $10,000!  All proceeds will fund scholarships for Maine students pursuing studies in architecture, construction, or engineering through the ACE Mentor Program (www.acementor.org).

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AAA Energy’s David Kelley, MEREDA’s Shelly R. Clark, and Celtics great, Cedric Maxwell

Special thanks to AAA Energy for securing special guest, former Boston Celtic, NBA MVP and current radio broadcaster for the Celtics, Cedric Maxwell who brought a great energy to the event.  Check out the video and write-up in the Bangor Daily News!

Many thanks also to our sponsors Bath Savings Institution and Dead River Properties, our bowlers, and those bidding on some great sports memorabilia in the silent auction.

Congratulations to First Place Winners from Team “Split Happens”, (Verrill Dana) and Runners-up, Team “Pinheads”, (Creative Office Pavilion)!

Check out photos from the event here.

 

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Multiple Offers Making a Comeback

Drew Sigfridson, SIOR | Designated Broker, Partner, CBRE | The Boulos Company
April 30, 2013

One of the best indicators of a thriving real estate market is the presence of multiple offer scenarios consisting of at least two viable competing offers for a single piece of property. This common occurrence took a hiatus during the height of the previous recession, but over the past several months the multiple offer scenario has returned.

Read the Article

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Cedric Maxwell, former Boston Celtic, NBA MVP and current radio broadcaster for the Celtics, will appear at Maine Real Estate & Development Association’s (MEREDA’s) “Strikes for Scholars” Bowl-a-Thon Fundraising Event on May 2, 2013 !

Courtesy of our sponsor, AAA Energy, Cedric Maxwell, former Boston Celtic and NBA MVP and current radio broadcaster for the Celtics, will be going team to team for handshakes and hellos. Cedric will also be at the silent auction table helping inspire bids to raise more money for MEREDA’s Strikes for Scholars Fundraising Event!  Among the items available from local and national sports teams are a Bruins game and dinner package with NHL title-holder Ray Bourque, and a baseball autographed by Red Sox infielder Dustin Pedroia.  MEREDA members are encouraged to attend and bid even if not playing on a team!

Special thanks to AAA Energy for securing such a heralded past NBA player and current team broadcaster in between playoff games!

Thank you, also, to our additional sponsors, Dead River Properties and Bath Savings Institution, and to our Twenty Bowling Teams for making this fundraiser a success!

All proceeds will fund scholarships through the ACE Mentor Program (www.acementor.org) for Maine students pursuing studies in architecture, construction, or engineering.

As an organization whose mission is to promote an environment for responsible development and ownership of real estate throughout the State, MEREDA wants to help support the next generation of professionals who will ultimately continue its work of advocating for responsible development.

About MEREDA (www.mereda.org)
Founded in 1985, MEREDA is an organization of commercial real estate owners, developers and related service providers, whose mission is to promote an environment for responsible development and ownership of real estate throughout the State of Maine.

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MAINE REAL ESTATE & DEVELOPMENT ASSOCIATION BRINGS TOGETHER NATIONAL AND LOCAL EXPERTS TO ANNUAL SPRING CONFERENCE – THE RETROFITTING MOVEMENT: REPOSITIONING UNDERUTILIZED COMMERCIAL REAL ESTATE

Maine’s communities face the daunting dual challenge of a push for energy-conscious development and planning and existing buildings and developments that are abandoned or in decline that thwart or hinder planning and development efforts. Find out how Maine communities, large and small, can reach their architectural, cultural, and economic potential by making best use of scarce community resources to enhance commerce, walkability, and community heritage.  The cutting-edge concept of retrofitting and creative re-use planning is one of the important trends in play all around the country and MEREDA is pleased to host this discussion, and to welcome a leading expert on the topic of retrofitting, Ellen Dunham-Jones.

Dunham-Jones is a leading authority on suburban redevelopment.  She has been featured in The New York TimesHarvard Business ReviewHarvard Design Magazine, Urban Land, Planning, Architectural Record, TEDx and other venues.  Co-author of Retrofitting Suburbia; Urban Design Solutions for Redesigning Suburbs , Dunham-Jones will share case studies of “underperforming asphalt properties” that have been redesigned and redeveloped into walkable, sustainable vital centers of community. Her presentation will focus on adaptive reuse of vacant buildings, environmental repair, revising zoning codes and public works standards, providing easements for future connectivity and adaptability.

This event will inspire and inform developers and their allies (attorneys, architects, engineers, bankers, realtors, et cetera), planners, students, municipal officials, and/or anyone interested in a creative and useful tool that creates value while enhancing community.

Local experts, Sarah Schindler, Associate Professor of Law, University of Maine School of Law, Denis Lachman, Principal, Lachman Architects & Planners, Tex Haeuser, Planning & Development Director, City of South Portland, Vanessa L. Farr, CNU-A , Planning Director, Town of Yarmouth, and Craig Gorris, Senior General Manager, The Maine Mall, who have been involved in the retrofitting movement, will support this discussion by addressing some of the practical challenges and or opportunities with respect to retrofitting suburban layouts in our Maine communities.

MEREDA will also recognize the Top Notable Projects for 2012 and provide an overview of the “MEREDA Index“, a new metric that will illustrate the statistical changes and measure the pulse of the commercial real estate industry in Maine, including sale and lease activity, construction starts and other data.

The conference will be held on May 22 at the Holiday Inn By the Bay in Portland from 1:00-5:00 pm with a social hour from 5:00–6:00 pm.

The conference is sponsored by:  Blais Civil Engineers, Libby Hill, Mainebiz, Pierce Atwood, EnviroVantage, Bar Harbor Bank & Trust, SMRT Architects | Engineers,  Building Envelope Specialists, and Sevee & Maher Engineers.

For more information and to register, visit www.mereda.org or download the brochure.

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Maine Real Estate & Development Association (MEREDA) to Award $5000 in Scholarships to Maine Students

On May 2nd, MEREDA will host the first annual “Strikes for Scholars” Bowl-a-Thon Fundraising Event at Bayside Bowl in Portland. Thanks to our Bowling Teams and Sponsors, all proceeds will fund scholarships through the ACE Mentor Program (www.acementor.org) for students pursuing studies in architecture, construction, or engineering.

As an organization whose mission is to promote an environment for responsible development and ownership of real estate throughout the State, MEREDA wants to help support the next generation of professionals who will ultimately continue its work of advocating for responsible development.

In addition to bowling, the event includes a silent auction including a special surprise sports celebrity guest, with all proceeds to benefit the MEREDA scholarship fund.

Thank you to our generous sponsors:

AAA Energy Svc 2012  Bath Savings 2013 Bowl-a-ThonDead River Prop

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Director John Gallagher of Maine State Housing Authority to Address MEREDA Members

Join the Maine Real Estate & Development Association (MEREDA) on April 25th as John Gallagher, Director of the Maine State Housing Authority shares his vision for MaineHousing and the state’s affordable housing sector, and outlines a couple of the initiatives already under way to change the housing and construction landscapes.

While he’s only been on the job as director of the Maine State Housing Authority for six months, John Gallagher has not wasted any time in ensuring that the agency’s statewide leadership role as a provider of decent, safe, and affordable housing to Maine’s low-income households is a priority. He’s accomplishing that by empowering MaineHousing’s mission-driven staff to take initiative in their efforts to help more people with fewer available funds, and by meeting with partners such as MEREDA’s membership to strategize on solutions to get more individuals and families into affordable housing.

Mr. Gallagher is no stranger to the housing authority sector, having served as executive director of Westbrook Housing Authority for more than 11 years and as development director at MaineHousing prior to that. With larger-scale issues such as sequestration and the economy challenging MaineHousing, Mr. Gallagher’s small-agency experience makes him relatable and approachable to MaineHousing’s partners who are facing the same hurdles.

For more information and to register, visit www.mereda.org.

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MEREDA Makes Recommendations to City of Portland’s Tax Increment Financing (TIF) Policy

Drew Sigfridson, SIOR | Principal/Designated Broker
CBRE | The Boulos Company | Brokerage Services  / President of MEREDA 

Last fall, MEREDA provided members of the City of Portland’s Housing and Community Development Committee with recommended changes to the City’s Tax Increment Financing (TIF) Policy.  Promoting sustainable economic development in the City of Portland is an incredibly important goal, the success of which will improve the lives of all Portland taxpayers.   Tax Increment Financing is a powerful economic development tool at the City’s disposal and MEREDA felt that because we represent the business development community, we have important insights into what will help to promote economic development.  In addition, it may have an impact on the way other municipalities view the use of TIFs.  

Last month, the City Council approved the TIF policy by unanimous vote and MEREDA’s input and recommended changes were largely incorporated throughout the policy document. I speak for the members of MEREDA when I say how proud we are to be an integral part of this positive change for the City of Portland. New strategies for encouraging development will broaden and deepen the tax base and lessen individual tax burdens, benefiting the City of Portland in numerous ways:    

1. Tax shift benefit

Assume the City could generate $25 million in new tax revenues over the next 20 years.  Under current formulas for state school funding, state revenue sharing subsidies, and county taxes, $10 million of that $25 million will be lost from the City.  This point is worth highlighting:  $.40 out of every $1.00 in new tax revenue leaves the City. With the TIF policy, the city will establish TIF districts in areas of targeted new development and invest in development-related infrastructure and programs. This will allow the City to avoid the $10 million in lost tax revenue and at the same time invest in its public infrastructure.            

2. Grow tax base

TIF districts encourage new development, redevelopment and grow the tax base for the future.  Portland has dilapidated buildings, stagnant parking lots and other underutilized areas in its downtown.  If implemented properly, this TIF policy will encourage development of fallow land and repurposing of vacant buildings which will increase overall tax revenue and the number of people and jobs in the City, the lifeblood of a thriving and economically diverse community.  This type of sustainable economy will defend us better against local and global economic recessions and help minimize the increases on residential taxes and subsequent budget constraints for our schools and general municipal services.   

3. Public infrastructure is public

Before this approval, the city expected developers to pay for City improvements in the area of their proposed developments – make overdue street repairs and upgrades, sidewalk improvements, sewer line and utility upgrades, etc. (the super-added infrastructure cost of developing property in Portland has been described as “exorbitant” by more than one City Councilor).  Predictably, many developers pursuing projects in Portland, have requested assistance through the TIF program.  A more principled approach is to have the City go back to fixing its own streets, in a manner which encourages development that will, through taxes, pay for infrastructure upgrades and much more.  Such a structure will likely result in fewer requests for credit enhancement agreements on individual projects and help avoid the sharp increases in costs that come with deferred maintenance.   

Developers will be more interested in working in the Portland market as the City starts to use TIF districts proactively to address infrastructure needs and create a rational, predictable environment to develop new buildings.  If a developer knows that the City will take care of their side of the deal – the public infrastructure – we should see additional new development proposals in the near future.  

As President of the Maine Real Estate & Development Association (MEREDA), I speak for many of our members who are excited to collaborate with City officials in supporting an environment whereby the City of Portland takes a proactive role in defining where they want growth to occur and they encourage that growth through area-wide TIF districts.  MEREDA is pleased the City has chosen to address this policy and we look forward to assisting in the implementation process.

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