By Staff
The city of Portland has acquired 27 acres of forested land and plans to preserve the parcel through the municipal land bank, according to a news release Monday.
The property, at 204 Rand Road, will join existing preserves at the adjacent Fore River Sanctuary and Jewell Falls.
The city bought the parcel from the Avangrid Foundation for $325,000 after the Portland City Council approved the purchase in December. The foundation donated 85% of the appraised value or roughly $275,000 to the Portland Land Bank to support the acquisition.
Drew Sigfridson and Jon Rizzo of the Boulos Co. brokered the deal, which closed Feb. 26.