PORTLAND, Maine — Construction delays on a Portland, Maine, housing project have cost residents over $170,000.
The Portland Press Herald reports (http://bit.ly/2soi1Pl ) taxpayers have paid interest on a Department of Housing and Urban Development loan taken out by the Federated Cos. for a project that includes housing units and a parking garage. Federated purchased the land from the city for $2.3 million in June.
The firm hasn’t started construction even though site plans were approved in 2015.
Federated changed plans in favor of taller buildings even after a lawsuit against the high-rises was filed by residents. The firm has also marketed a portion of the project to other developers and switched construction plans.
Portland’s economic development director Greg Mitchell says he is hopeful construction will start this year.
Information from: Portland Press Herald, http://www.pressherald.com