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V O L . X X V I N O. I I I S O U T H E R N M A I N E A $90M bet on BIDDEFORD Turning an empty lot into an urban 'pearl' B y R e n e e C o R d e s A s Portland gets more crowded and expensive, Biddeford has become a new hotspot for developers attracted by its location and easy interstate access, young population and new businesses moving into renovated textile mills. "ere's a lot of benefits that lead me to believe that Biddeford is long-term going to be a great economic engine here in the state," says Jim Brady, president of Fathom Cos. in Portland. Brady has seen changes firsthand after buying a former post office building in 2017, at 27 Washington St. He added a copper roof and removed mold, old boilers and asbestos-related insulation materials. As he seeks the right tenant — most likely for an open-space office or food and beverage facility — he's embarking on a much larger undertaking in the same city. Together with fellow Portland developer and inves- tor Brian Eng, Brady aims to create the Pearl Street Riverfront District on two parcels inside the former Maine Energy Recovery Corp. waste-to-energy site, at 3 Lincoln St. Except for a smokestack, it's an empty lot screaming for new life. Brady and Eng are planning a whole new neigh- borhood around the $22 million city parking garage, construction of which is expected to start in March, and a planned riverfront park the city estimates will be completed by summer 2021. ey envision an urban, pedestrian-friendly, transit-oriented mixed- use neighborhood to complement the ongoing downtown renaissance. "Regardless of what Jim and I do, there's around $100 million of development that's occuring, and we have the opportunity to activate and integrate more innovative, transit-oriented urban development," Eng says. He also says that while high construction costs are scary, "one of the exciting things about ground-up con- struction is that we can really think about how we want this whole riverfront district to work, and how we want it to relate to the buildings that are already there." e Pearl Street project has an estimated $90 million tab for 300,000 square feet of new construc- tion, according to Brady. His past collaborations with Eng include Philadelphia's "luxury lifestyle" Fitler Club, which opened last year. Closer to home, Eng's Portland-area projects include 6 City Center and Chaval restaurant in the city's West End neighborhood and Westbrook's Stockhouse Station. Brady's Portland portfolio includes the Press Hotel, in a 1920s-era former newspaper building, and the 135-room Canopy by Hilton hotel, now under construction. 'Unique, long-term opportunity' Turning their attention 20 miles southwest of Portland, the duo are keen to make their mark on Biddeford's urban revival. "We see this as a great, unique, long-term opportunity to help create a new urban fabric development in Biddeford that adds jobs, adds pub- lic excitement, areas for the public to enjoy like the park and urban streetscapes, and ultimately being able to build more housing, retail and office spaces," says Brady. "at's very good for the local economy and for the city of Biddeford." Eng, sitting with Brady at Fathom's Exchange Street Portland headquarters, adds: "I view it as a regional opportunity. As the greater Portland area sees economic development, and we're facing ques- tions of congestion, how can we do smart, innova- tive development that really complements existing transit assets in a way that is not novel elsewhere, but Maine has not quite done it yet?" ey've worked on their plan with the city over the past year, holding brainstorming sessions, known as charrettes, with architects, engineers, urban plan- ners and their consultants, Boston-based Goody Clancy and Portland's Acorn Engineering. Expected to get the official green light from the city by early spring, the plan includes building a P H O T O / T I M G R E E N WAY Tale of two projects As Portland gets more congested (and expensive), Biddeford and Scarborough become new hotspots F O C U S F E B R UA R Y 1 0 , 2 0 2 0 12 In the plan for the Pearl Street Riverfront District in Biddeford, Jim Brady, left, and Brian Eng envision an urban, pedestrian- friendly, transit-oriented neighborhood that complements the city's ongoing renais- sance. They estimate the building cost at $90 million for 300,000 square feet.

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