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Prime Bayside Lots in Portland Now Being Marketed for Development

4 weeks ago in Local

Bayside lots being marketed for development in Portland - The Boulos Company

The city of Portland is moving forward to develop prime Bayside lots long mired in legal wrangling.

Federated Companies bought the four lots on 3.45 acres in 2016, but its project for the land stalled and legal entanglements ended with the city paying the developer $15 million to retake the land.

The city rezoned the property for dense commercial housing, among other uses, and is marketing the lots through the city of Portland’s broker, the Boulos Company. The city will consider offers for one or more of the four lots.

The property is situated on Somerset Street, adjacent to Marginal Way, and is walking distance from Whole Foods, Trader Joe’s and Hannarford, as well as the Bayside Trail.

“These parcels are also adjacent to a plethora of retail, cultural, educational, and dining options,” a release from the city said Monday.

Developers are encouraged to review the Requests for Proposal and submit proposals to the the Boulos Company.

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