EYP Architects and Engineers, a national company, with offices in Boston. The building will incorporate cross-laminated timber.
The 200,000-square-foot building in the Westbrook development, as well as well as the two that make up Rock Row s medical campus, aren t EYP s first in Maine. The integrated design firm, which specializes in higher education, government, health care, and science and technology architecture, designed
Jackson Lab s Ellsworth campus, renovating a former Lowe s into a 135,000-square-foot state of the art research center. It also designed
Acadia National Park s new ranger station.
It is the company s first CLT building in Maine, as well as Maine s largest and first commercial building to be made from the timber product. The
The building boom that has shown no sign of slowing down, even amid the pandemic, is made up of a wide range of projects and planned uses.
As Renee Cordes reports in our cover story, there are three hotels underway on the Portland peninsula. See “Staying power,” which starts on Page 20.
Four years ago, the city of Portland moved its public works depot out of the Bayside neighborhood and opened it up for redevelopment. Now the sixth and final parcel is being developed and it may be the most ambitious project yet, with 171 apartments and ground-floor retail, as Maureen Milliken reports in “Portland’s economic development gamble paying off,” which starts on Page 24.
A year ago, companies were just starting to make their revised sales projections for the year.
When the federal government quickly stepped in with the Paycheck Protection Program, the Small Business Administration and banks scrambled to figure out how to dispense the money. Businesses went into overdrive trying to figure out how to get loans. There were a lot of sleepless nights. In the first round of lending alone, some 28,000 Maine businesses received $2.3 billion in loans.
For our cover story, Renee Cordes takes us behind the scenes to show what it was like as bankers and businesses tried to make sense out of the pandemic chaos and the PPP loans. Lending officers, many of whom were now working from home, rushed to help clients take advantage of the program before the money was snapped up. As one business owner told Renee, “The biggest concern we all had was that the money would run out that first weekend” of lending. See “Loan rangers,” which starts on Page 16.
A bill co-sponsored by U.S. Sen. Angus King, I-Maine, would set aside $120 billion to help independent restaurants and small franchises who face long-term challenges due to the pandemic.
“Maine’s restaurants are central parts of our economy and our communities, King said in a news release. The coronavirus pandemic has threatened this industry, putting livelihoods and small businesses at risk. Congress needs a response that meets the scope of the challenge, providing restaurants with the funds they need to cover payroll, rent, utilities, and more.
He also noted that the bill is bipartisan, calling on fellow lawmakers to get this done, and protect these local treasures until we bring this pandemic under control.”
Wealth management and retirement typically garner thoughts of investment portfolios, 401(k) plans and IRAs. But, as this issue illustrates, investments in Maine also include real estate and even art collection.
As Renee Cordes reports in our cover story, even amid a pandemic year, money continued to flow into art investment. She talks with a range of gallery owners and investors, who are investing in works ranging from $200 to $90,000 and more. See “Picture this” on Page 10.
Another investment vehicle that’s gained notice in recent years is the 1031 tax exchange, which allows real estate investors to buy and sell properties without onerous capital gains taxes. But, as Maureen Milliken reports, the 1031 provision, so named for its IRS code, faces elimination. See “Is 1031 all done?” on Page 16.