An official at Port Property Management said that while planning is still in the early stages, the vision for the project includes existing commercial tenants while gradually adding multifamily housing.
The real estate firm bought the parking garage within weeks of acquiring a portfolio of buildings for $25 million, bringing its total recent investment in West Bayside to $45 million.
A 239,000-square-foot mixed-use building planned for 82 Hanover St. in West Bayside, Portland, is the last and most ambitious piece of a four-year effort that has transformed several blocks that were the former public works depot.
The 171-apartment building, which will also have 6,500 square feet of retail space, is the final of six city public works department properties listed by the city in April 2017 to be redeveloped.
Tom Watson, of Port Property Management, had already developed another of the public works properties, 82 Hanover St., into a mixed-use building that includes restaurants, bars and office space. He originally planned 16 units of maker space for the 8,435-square-foot maintenance garage at 52 Hanover, but once the neighborhood started to take shape, so did the vision for the property.