It cost the city $15 million to settle 3 court cases with a Florida developer, but Mayor Mark Dion believes the land is valuable enough that the city will come out on top.
economic development
Posted inBusiness, Local & State, News
Portland to pay $15M to move on from failed Midtown housing project
The City Council voted Monday to buy 3 vacant lots for nearly $13 million more than the original purchase price and put almost a decade of litigation behind it.
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Posted inBusiness, Local & State, News
What to know about the failed ‘Midtown’ housing project in Portland
The City Council will decide whether to pay $15 million to end a legal battle and buy back vacant land it sold to a developer that promised to build hundreds of apartments.
Posted inBusiness, Local & State, News
Madison’s TimberHP emerges from Chapter 11 bankruptcy with eye on ‘sustainable’ future
The wood fiber insulation manufacturer that brought Madison’s former paper mill back to life had filed for Chapter 11 bankruptcy protection in March.
Posted inArts & Entertainment, Local & State
Waterville film fest to honor British actor Clive Owen
The Academy Award-nominated Owen, 60, has starred in many films including ‘Croupier,’ ‘Duplicity,’ ‘Closer’ and ‘Gosford Park.’
Posted inLocal & State, News
Developers of rejected Scarborough housing proposal offer new, scaled-down plan
Residents and officials opposed the South Portland Housing Development Corporation’s 96-unit proposal for a slew of reasons. Now, a new plan influenced by that criticism is being presented.
Posted inBusiness, Local & State, News
What’s next for Madison’s TimberHP after Chapter 11 bankruptcy filing?
Those who have supported the Madison manufacturer said the bankruptcy was unfortunate, but not unexpected, and are cautiously optimistic that the restructuring will allow the company to succeed.
Posted inBusiness, Local & State, News
Waterville hospital staff reflect on imminent closure, seek new jobs
Employees at Northern Light Inland Hospital in Waterville say they are worried for their peers and concerned about patients who will lose their health care when the hospital closes.
Posted inBusiness, Local & State, News
Maine Senate confirms economic development commissioner
Michael Duguay was sworn in as the head of the Department of Economic and Community Development.
Posted inBusiness, Local & State, News
Another former scrapyard in Portland is targeted for housing
Redfern Properties wants to build more than 500 market-rate apartments in Bayside, but the economic climate would have to improve significantly for the project to move forward.