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October 3, 2017

Portland selling four parcels in Bayside neighborhood

Four city-owned parcels in Portland's Bayside neighborhood are poised to be redeveloped in mixed-use projects, following the City Council's vote on Monday to sell them for nearly $4 million.

The Portland Press Herald reported that the sales agreement for the Bayside properties bounded by Portland, Parris, Hanover, Alder and Kennebec streets requires buyers to complete their mixed-use proposals, including 100 units of housing, within certain time-frames. If the buyers don't meet those conditions, the city can either repurchase the property or receive payments from them, the newspaper reported.

The newspaper reported that parcels will be sold to the following developers: Jack Soley; Tom Watson & Co. LLC and Barrett Made, a design and building firm. Developer Nathan Szanton and Bayside landowner Ross Furman are being recommended to buy and develop a small parcel surrounded by property Furman already owns, it added.

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