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W W W. M A I N E B I Z . B I Z 23 JA N UA R Y 9 , 2 0 1 7 C O M M E R C I A L D E V E L O P M E N T F O C U S e college also bought fi ve buildings in down- town Waterville that it plans to redevelop. Work will begin this year on a 42-room hotel, which is expected for completion in 2018. Meanwhile, aging roads and municipal water and wastewater systems, in need of upgrade and repair, are expected to create more opportunities for con- tractors, engineers and all related trades. A report by the American Society of Civil Engineers recently issued Maine a grade of a C-. What's ahead Looking ahead, Marks at the Associated General Contractors of Maine is hopeful that energy and hydropower projects could provide more opportu- nities for contractors in the short term and, in the long term, help mediate the cost of doing business in Maine, while encouraging private investment. "Energy development was a shining light during the great recession," Marks says. "I think everyone is watching to see what direction Maine will take in the next few years with regards to energy policy." Yarmouth-based Ranger Solar, for example, has work underway at the Sanford-Seacoast Regional Airport and the Loring Commerce Center, and in Farmington. e Sanford project, which is expected to cost at least $50 million, would be the state's largest solar project and is expected to begin permitting this year. Marks also hopes to see more activity around the state, like the investment in the International Marine Terminal in Portland. C O N T I N U E D O N F O L L OW I N G PA G E » A Real Estate Development and Investment Company Site Planning Permitting Construction Management Traffic Retail National Tenants Medical Build-Outs Maximizing Value Consulting Daniel M. Catlin, CEO / Partner: 207.841.2701 ¡ dcatlin@commercialpropertiesinc.com I N C. Richard J. McGoldrick, Founder / Partner Seaport Lofts 113 Newbury St., Portland Project details: Condominium development Estimated cost of construction: $10.5 million Construction manager: Landry/French Construction Completion date: 2016 The Park Danforth 777 Stevens Ave., Portland Project details: Five-story, 95,000 square-foot addition to senior living facility, includes parking garage and renovations to existing facility in Portland; will include 58 residential units. Estimated cost of construction: $20.8 million Construction manager: PC Construction Financing: NBT Bank Completion date: Early 2017 P H O T O / P E T E R VA N A L L E N P H O T O / P E T E R VA N A L L E N N O TA B L E D E V E L O P M E N T P RO J E C T S