- Associated Press - Saturday, June 20, 2015

PORTLAND, Maine (AP) - The developer of a much-anticipated residential and retail development in Portland is threatening to sue the city after officials said the purchase agreement for the property had expired.

Miami-based Federated Cos. had proposed to build 440 apartments.

The Portland Press Herald reports (http://bit.ly/1IVsdhf ) that the developer told city officials recently that it was considering replacing two of the four apartment buildings with hotels.

The city sent a letter to Federated Cos. Thursday saying it would have to submit new plans for review if it wants to build hotels and that the option to buy the land had expired.

Federated Co. said in a letter Friday that it would have no option but to litigate if the city forces it to go before the City Council to renew the purchase agreement.

___

Information from: Portland Press Herald, http://www.pressherald.com

LOAD COMMENTS ()

 

Click to Read More

Click to Hide