Federated might enlarge Portland, Maine, project
The firm, with offices in Miami and Boston, wants taller apartment buildings, a hotel and offices
October 29, 2016 01:30PM
Rendering of Federated Companies’ development in Portland, Maine
Federated Companies, with offices in Miami and Boston, wants to expand the scope of its planned development of a trio of six-story apartment buildings, plus ground-floor retail space and a parking garage, in Portland, Maine.
Federated wants to increase the height of the apartment buildings and to add a hotel and office space to its development, according to residents of nearby neighborhoods who met with Portland’s city manager on October 23.
Portland City Manager Jon Jennings declined to comment on the details his meeting with the Bayside Neighborhood Association. Jonathan Cox, the founder and chairman of Federated Companies, also declined to comment.
Federated Companies bought the vacant, 3.5-acre development site from the City of Portland in June for $2.3 million.
Last year, an affiliate of Federated Companies paid $17.8 million for the Fort Lauderdale headquarters of Show Management Convention Services, operator of the Fort Lauderdale International Boat Show. [Portland Press Herald] — Mike Seemuth
Source: The Real Deal