By Associated Press - Monday, October 13, 2014

PORTLAND, Maine (AP) - Investors want to restore and redevelop the historic Portland Company complex near downtown Portland as a marketplace with residential buildings.

Developer Jim Brady tells the Portland Press Herald ( ) he envisions an empty building where the Portland Company once built locomotives returning to life as a marketplace akin to Boston’s Faneuil Hall.

Brady and Casey Prentice are business partners with the company CPB2 LLC which bought the Portland Company site last year. The building takes up 1,000 feet of waterfront near Portland’s downtown. The Portland Company started production at the site in 1847 and ceased operations in 1982. The company built locomotives, ship engines, buoys, lighthouse components and other heavy machinery.

The redevelopment plans are preliminary and depend on a zoning request and market conditions.

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