News: Northern New England

North Branch Construction continues construction on Rivermere Community Housing in Lebanon

North Branch Construction of Concord continues construction of Rivermere Community Housing. This project consists of 2 new two-story wood-framed buildings that are now weathertight. Permanent power was established in January when a new electrical service was extended to the site. Flooring and painting are currently taking place in Building 1 which will be complete by the end of March. Insulation and drywall are underway in Building 2. Building 2 is on track to be complete at the end of April. Sitework and landscaping will be finished in May. The completed project will provide a total of 21 affordable rental townhouse units along the Mascoma River. Building 1 will provide seven 2-bedroom townhouse units. Building 2 includes fourteen 2-bedroom townhouse units and two ADA accessible 2-bedroom apartment units, as well as a community room with laundry facilities. Construction has continued straight through the winter with an anticipated completion in May. Rivermere Community Housing is owned by Twin Pine Housing Trust and the project is being funded by the New Hampshire Housing Finance Authority (NHHFA), USDA-Rural Development, and the CDFA/CDBG - City of Lebanon. George Hickey Architect of Sanbornton, N.H. is providing architectural services for the project.
MORE FROM Northern New England

Reveler Development celebrates final phase of work at The Levee - new 51-unit apartment building in Biddeford

Biddeford, ME Reveler Development has begun construction on 10 Upper Falls Rd., the fourth and final phase of Reveler’s master-planned development in downtown,The Levee. “We’re thrilled to embark on this major milestone at The Levee,” said John Laliberte, CEO of Reveler
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Columns and Thought Leadership
The Greater Portland industrial mid-year market update - by Nate Roop

The Greater Portland industrial mid-year market update - by Nate Roop

The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for
Residential is here to untie the office space doom loop - by Thomas House

Residential is here to untie the office space doom loop - by Thomas House

The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
Interest rates and inflation - by Matthew Bacon

Interest rates and inflation - by Matthew Bacon

As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.