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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 F E B R UA R Y 5 , 2 0 2 4 From the Editor T he old joke is that real estate decisions are driven by three things: Location, location, location. at's still true, but it's taken on another mean- ing as well. As Senior Writer Renee Cordes reports in our cover story, a "location" near the water can be a red flag for developers. Call it climate change or call it a bunch of freak storms, Mainers have definitely had their hands full in recent months protecting real estate from storm waters. In our cover story, which starts on Page 12, Renee talks to developers and real estate pros about how they're planning for rising waters, whether it's more frequent storms or the seasonal high tides that beset places like Commercial Street in Portland's Old Port. "When we build something, it's for the next 100 years, not for the next 20, so seawalls and breakwaters have to be included in any plan we do," said one business owner and developer with interests on the midcoast. A Realtor says homebuyers and renters are approaching waterfront property with skepti- cism: "We have seen renters in riverfront homes that have flooded, that have had enough," she says. "Additionally, buyers are becoming more cautious, seeking properties with water views and access, but not necessarily direct frontage." Elsewhere in the issue, we touch on real estate news at locations in Ellsworth, Kittery, Westbrook, Bangor, Skowhegan, Augusta, Waterville, Brunswick and other spots. Our real estate coverage starts on Page 9 with the Building Business column. As much as the real estate market has been affected by higher interest rates, a shortage of supply and even Mother Nature, developers have continued to break ground on new projects in Maine. 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 all the news every day on Mainebiz.biz or by subscribing to the Daily Report and Real Estate Insider newsletters. Here is the top content from Jan. 16–30: 1. Boston construction firm Suffolk expands to Portland 2. Kennebunk Savings Bank CEO announces retirement, and his successor 3. Former Bernstein shareholders launch education-focused law firm 4. Off to the races: Investor group bets big on harness racing in southern Maine 5. Martin's Point Health Care plans $40M office, garage complex on historic Portland campus 6. A Carrabassett Valley restaurant known for loyal customers is sold to one 7. Hallowell's Water Street has become an investment hub 8. Team behind Time & Temp conversion gets OK for Brunswick housing development 9. After pandemic bump, Acadia National Park visitation drops for second straight year 10. Should Portland let 142 Free St. be razed, as part of the art museum's expansion plans? (poll) P ROV I D E D P H O T O / T O M A R B A N 1 Even with so much of the economy in flux, developers remain active in Maine. bernsteinshur.com Meet Beth. A real estate attorney with an eye for the big picture and the details, Beth helps her clients find cost-effective, practical solutions to commercial real estate challenges, including development, leasing, and financing. We're attorneys. But we're people first. Beth A. Smith, Attorney and Shareholder Location, location, location still drives real estate projects

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