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V I E W P O I N T S W W W. M A I N E B I Z . B I Z 3 JA N UA R Y 2 3 , 2 0 2 3 From the Editor A part from the pandemic, the past three years in southern Maine has been defined in a large part by real estate growth. Home sales skyrocketed, to the point where there's a very limited supply, or "inventory," as the Realtors call it. Even the most recent home-sales numbers from the Maine Association of Realtors shows the median home price has remained at historic highs while the number of homes sold has declined from the 2020 surge. Cumberland and York counties were at the heart of the surge, with more than a third of the state's total home sales. At the same time, we've seen growth from a range of industries, and an ongoing labor shortage, with low unemployment rates. Herein lies the conflict: Maine companies, even going into an apparent economic slowdown, are still hiring and still looking for a skilled workforce, if not top-tier managers. Finding housing for those employees is getting harder and harder, with fewer homes on the market (coupled with a median home price of $330,000) and little available on the apart- ment market. If you work in Portland, you've no doubt seen an increase in the homeless population. I was recently at a ribbon cutting for a new condo development on Munjoy Hill. It provided just seven units, but the opening was hailed by a Portland City Council member and local officials because every bit is needed right now. In this issue One of the things that's made Portland an attrac- tive destination has been its restaurant scene. e industry had a shakeout in the pandemic, but, as Renee Cordes reports, legacy restaurants and new- comers alike are staging a comeback. See "Stirring the pot," which starts on Page 12. Maine has an estimated 5,000 miles of coast- line, but just 20 miles of it is devoted to working waterfront. Laurie Schreiber reports on the effort to transform a valuable boatyard property in Yarmouth into a diversified working waterfront area used by boatbuilders, oyster farmers, kelp growers and rec- reational users. e story starts on Page 18. Peter Van Allen pvanallen@mainebiz.biz Featured @ Mainebiz.biz For a daily digest of Maine's top business news, sign up for the Mainebiz Daily Report at mainebiz.biz/enews Get Maine's business news daily at mainebiz. biz. Below is our top content from Jan. 3–17. 1. Gone but not forgotten: Remembering Mainers who died in 2022 2. Investors in Freeport retail space see a downtown on cusp of transition 3. 2023 Forecast: With 17 stores, Renys says 'hiatus' on markups could end 4. 2023 Forecast: Discount retailer Marden's staying nimble 5. 2023 Forecast: Rock Row expects to add new tenants, start new construction 6. Law firm roundup: Personnel moves from around the region 7. Hello, Maine: New residents continued to pour in last year, though pace slowed 8. Northern Light deal transfers 1,400 employees to Minnesota health services firm 9. Tour boat operators return to Maine, buying Boothbay schooners 10. Words of wisdom: Maine business leaders reflect on the 'best advice' they received F I L E P H O T O / J I M N E U G E R 1 Finding housing for new employees is getting harder and harder, with fewer homes on the market and little available on the apartment market. When it comes to your real estate project, we'll keep you on track. bernsteinshur.com Be real. BE SHUR. Get to know us. We're the Real Estate Team at Bernstein Shur. Trusted advisors and advocates in all aspects of commercial real estate ownership, leasing, development, and financing. Southern Maine's economic engine needs worker housing The late Bob Smith of Sebasco Harbor Resort is remembered as a hospitality industry icon.

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