Flooding Fears Again Delay Major Portland Apartment Plan
PORTLAND, Maine - A much-anticipated Portland development is being delayed again because of concerns about flooding.
Miami-based developer The Federated Companies wants to building 445 units outside of downtown Portland, the state's largest city. Residents say it could have a major impact on the rental market in Portland, which has very low vacancy rates for prospective tenants.
The Portland Press Herald reports a last-minute snag facing the project involves a plan by the city and developer to raise part of a street by two feet. The owner of a nearby business worries that the raised street would cause flooding.
The development initially called for four 16-story apartment towers, two parking garages and ground floor retail space, but was scaled back after a lawsuit from residents who argued it was too massive.