Issue link: https://nebusinessmedia.uberflip.com/i/1466261
W W W. M A I N E B I Z . B I Z 27 M AY 2 , 2 0 2 2 F O C U S R E A L E S TAT E / C O N S T R U C T I O N / E N G I N E E R I N G Culley is developing an 81-unit project at 45 Forest Ave. that includes affordable housing units, but that proj- ect made economic sense due, in part, to historic tax credits. "With the Green New Deal and inclusionary zoning, there will be no large-scale developments in Portland. It's really unfortunate because we have a significant housing crisis," Culley says. Amid housing shortage, the 'Airbnb effect' stirs debate B y L a u r i e S c h r e i b e r As Maine cities and towns struggle with housing shortages and demand for affordable housing for area work- ers, short-term rentals have been a focal point of debate. Some places have sought to restrict short-term rentals through zoning. Others have put curbs on short-term rentals at otherwise unoccupied homes. e city of Portland capped the number of non-owner-occupied mainland units at 400. South Portland banned non-hosted short-term rentals in residential districts. At Business Lending Solutions, we do it all. Through solid partnerships with area credit unions, we provide Maine and New Hampshire businesses with highly competitive rates, local market experience, and expertise, plus personalized service that's second to none. Whether you need new equipment, new offices, or warehousing, or want to acquire a business, we have the solutions that can help you thrive. Our business is helping your business succeed. Equipment Loans | Commercial Real Estate Business Acquisition Loans mainebls.com | 866-736-2804 C O N T I N U E D O N F O L L OW I N G PA G E » S O U R C E : Town of Bar Harbor THE PORTLAND EXAMPLE BAR HARBOR VACATION RENTALS Portland has 700 total units registered as short-term rentals. The number of vacation rental units in Bar Harbor doubled from 2009 to 2019 — and soared in 2021 in anticipation of a referendum, which passed, that capped the number of units that are not occupied by the owner. The data includes both first-time registrations and renewals. 84 are island rentals 208 are owner-occupied 22 are tenant-occupied on the mainland 386 are non- owner-occupied S O U R C E : City of Portland 2009 2010 2011 2019 2020 2021 0 0 100 100 200 200 300 300 400 400 500 500 600 600 700 700 800 800 208 185 141 425 471 740