Mainebiz

V O L . X X I I I N O. V I I A P R I L 3 , 2 0 1 7 22 R E A L E S TAT E / C O N S T R U C T I O N / D E S I G N F O C U S Benthien likes the neighborhood's synergy. " ose of us in West Bayside are really proud: We're all talking about how to make it better," he says. "I'm excited by the possibilities, and generally by the neighborhood's excitement to see things get done." New residential life for former factory Another major redevelopment is the emergence, nearly complete, of 55 residential units inside a historic John Calvin Stevens-designed building until recently occupied by sauce manufacturer Schlotterbeck & Foss. Located at 117 Preble St., it's now called 117 Lofts. e project preserves historic elements while building new systems and modern amenities. A group of investors bought the building in January 2016 and invested about $7 million, with the idea that demand for housing in Portland begged new stock and that this location contrib- uted to West Bayside's transformation. " e location is compelling," says investor John Anton, a Portland-based community development and housing consultant. "It's two blocks from Monument Square, you can do everything on a pedestrian basis, but if you need to drive somewhere you're also two minutes from the highway on-ramp." Construction was recently wrapping up and mar- keting ramping up. e lower two fl oors are already occupied by Maine College of Art students. While Portland's transformation in the suburbs- to-city migration now has history behind it, Anton says, West Bayside's identity is still emerging. "I think it's a chance for a little more of a middle- income resident base. at's a market segment under a lot of pressure on the peninsula," he says. "We'll get more people living in Bayside at all income levels and really contributing to the vibrancy that we already have in Portland, but expanding it and serving a broader range of folks." The city's active role in redevelopment Economic Development Director Greg Mitchell says a huge catalyst for development will be the city's sale of seven Department of Public Works » C O N T I N U E D F RO M P R E V I O U S PA G E MANAGED SERVICES DATA CENTER SERVICES ETHERNET VOIP DATA NETWORKING MANAGED Ask Us About LARGE ACCOUNTS Earl Baumgardner – 844 556-1159 TOLL FREE BUSINESS Shawn Caron – 855 895-2441 TOLL FREE Ryen Alicandro – 888 604-3964 TOLL FREE VISIT BUSINESS.FAIRPOINT.COM OR EMAIL BUSINESS@FAIRPOINT.COM TO LEARN MORE. DATA & NETWORKING SOLUTIONS Dedicated Ethernet & NEW Managed Wireless LAN connectivity options HOSTED PBX/SIP TRUNKING Cloud-based, easy-to-manage voice and data service DATA CENTER SERVICES Physically secure space for computing and storage equipment FairPoint offers the largest, most robust fiber network in northern New England with more than 17,000+ fiber route miles and 380 network access points. FairPoint offers the largest, most robust fiber network ADVANCED SERVICES FROM FAIRPOINT CALL YOUR PORTLAND AREA FAIRPOINT REPRESENTATIVE: *Not all services available in all areas. Services and pricing subject to change. Uninterrupted service not guaranteed. Terms and conditions apply, and term commitments may be required. © 2017 FairPoint Communications, Inc. All rights reserved. COMMERCIAL PRE-WIRE & POST-WIRE SERVICES ON MAINE'S PREMIERE FIBER NETWORK EXCEPTIONAL MTU & PROPERTY MANAGER PROGRAMS! R E N D E R I N G / C O U R T E S Y C B R E | T H E BO U L O S C O M PA N Y The 117 Lofts, a redevelopment of the former home of Schlotterbeck & Foss Co., at 117–119 Preble St. in Portland. Once a sauce-manufacturing site, it is now home to 55 apartments. It was a key part in providing West Bayside more of a residential presence.

• Cover