PORTLAND, Maine (NEWS CENTER) -- The owners of the property at 58 Fore Street in Portland released images of the proposed plans for the property.
It includes 59,873 square feet of retail space, 638 residential units, 123,917 square feet of office space, a 132-room hotel, and a 2,600 square foot Marina with 220 slip spaces.
"We see this as one of the most prominent and exciting sites to be developed along the entirety of the East Coast," said James Brady, of CPB2, LLC, the developing company. "It would create new jobs, new tax revenue, new workplaces for the city."
Brady said 10 percent of the housing is "workforce housing," per the city's "inclusionary zoning" ordinance.
"There will be a wide range of housing that will accommodate all levels of income," said Brady.
Mayor Ethan Strimling said it would alleviate the city's housing crisis, in part.
"That's something our city desperately needs," said Mayor Strimling. "Anytime somebody's investing a quarter of a billion dollars into the city it's going to open the mayor's eyes and it's going to open the community's eyes."
The plans will go before the city council for possible approval.
This story will be updated.
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