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W W W. M A I N E B I Z . B I Z 21 A U G U S T 1 9 , 2 0 1 9 F O C U S G R E AT E R B A N G O R / N O R T H E R N M A I N E to the parking garage entrance at neighboring Pickering Square. e goal is to better define pedestrian, public transportation and private vehicle flow; add amenities like EV chargers and bike storage spaces; and create better connec- tions between the downtown and the waterfront. e project builds on previous public infrastructure and beautification projects. e city also maintains lines of communication with developers. For example, when the city was planning to revamp the sidewalks and street on Exchange Street, it offered Moskovitz and others on the block the option of installing a heated sidewalk in front of their buildings. "We're looking to other communi- ties and to our businesses and residents to tell us what they'd like to see in terms of great place-making," says Emery. Slow but steady change Observers say the downtown's trans- formation has been slow but steady. Carol Epstein, of Epstein Commercial Real Estate in Bangor, says that, for investors and developers, Bangor can be a challenging market. Rehabilitation costs are high and rents don't always jus- tify the numbers. "So while people can buy something here at what seems like an appealing price, the rehab is expen- sive and the rents are modest," she says. "It's a difficult balance." Still, her team is seeing continued rehabilitation and redevelopment of older downtown buildings for residential and commercial use. e office sector is strong, she adds. "Office tenants appreci- ate being downtown," she says, adding that it's a popular choice to help with employee recruiting and retention. Nevertheless, she says, "We have to keep it in perspective. It's a Bangor level of high activity." For Morrison, that level works just fine: "Right now I get calls every day from businesses outside of Bangor wanting to come to Bangor, wanting to be part of the excitement. As soon as a space opens, it fills up." Laurie Schreiber, Mainebiz senior writer, can be reached at lschreiber @ mainebiz.biz In 2017, 105 Main St., a 25-unit retail and apartment building, built in 1871 and known as the Adams-Pickering Block, sold for $1.875 million to an out-of-state buyer. The listing received multiple offers within the first week and went under contract after two weeks, due to expectations of a sizeable return on investment. Next door is 91 Main St., refurbished by Heather and Abe Furth and recently leased by Portland Pie Co. Adam Moskovitz purchased a portfolio of six historic buildings on Exchange Street in 2016 and has been performing upgrades while honoring historic features such as the original brick walls in the restoration of 187 Exchange St., built in 1892 and known as the Nichols Block, for tenant Thompson-Hamel LLC. P H O T O / L A U R I E S C H R E I B E R P H O T O / L A U R I E S C H R E I B E R P H O T O S / L A U R I E S C H R E I B E R Vance Aloupis purchased 99 Franklin St., Bangor Savings Bank's former headquarters, for conversion into a luxury apartment complex called Tower 99, designed by Ervin Architecture of Bangor. Amenities will include a high-end gym, rooftop patio, meeting space and waterfront walking trails. Aloupis, a Bangor obstetrician/ gynecologist, expects Tower 99 to be operational by year's end. Applications are already coming in. Trustworthy Reliable Strategic Partner Experienced RUDMAN WINCHELL 207.947.4501 rudmanwinchell.com C O U N S E L O R S A T L A W Everything you need to protect your family, business and community. Office tenants appreciate being downtown. — Carol Epstein Epstein Commercial Real Estate

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