Mark McClure Closes on Approved 50 Unit Development in Cumberland Foreside, Maine
McClure, Managing Partner of GenX Capital Partners, a real estate investment banking and development firm based in Miami, FL and Portland, ME, has closed on 100 RT 1 in Cumberland Foreside Maine, a fully approved, 50 unit condo development site off Rt 1 and parallel to US 295
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CUMBERLAND CENTER, Maine, October 27, 2021 (Newswire.com) - Located on 100 RT 1 in Cumberland Foreside, Maine, The Mark at Cumberland Foreside will be a 50 unit, luxury 1, 2 and 3-bedroom condominium development that will fuse a Metropolitan style and feel with a flavor of coastal Maine, stated Todd Stanton, head of PR at GenX Capital Partners. The 5-story building and 22 car underground garage (90 spaces) will be located between RT1 and US 295, providing tranquility and privacy surrounded by a wooded area, yet only minutes away from the hustle and bustle of downtown Portland to the south, Freeport to the north and all the various shopping, businesses and company campuses that make up Southern Maine. The project was approved in August to Jonathan Snell, who in turn sold it to McClure after the Town of Cumberland Planning Board granted transfer of ownership approval and granted approval for a small redesign McClure needed for the site plan.
"Sevee and Maher did an exemplary job designing the site plan, and I will say it was a pleasure to work with the Town of Cumberland and their planning board. Great people, entrepreneurial minded and forward thinking," McClure stated.
"As for the project, there hasn't been a condo development like this in quite some time, certainly not in the Cumberland, Falmouth, Yarmouth and Freeport vicinity, so when this site was presented to us off-market, we jumped at it, " McClure stated. "Our goal will be to deliver style with substance and high-end design, privacy with a prime location, top-notch amenities and exemplary customer service and management for our residents. The Mark will have it all," he added.
Unit sizes will range from 1 bedroom/1 bath and 700 square feet to 3 bedroom/2 bath and 1,230 square feet at The Mark. Condos prices will run in the mid $400,000s for the smaller units all the way to the $700,000's for those on the fifth floor with their own rooftop deck. Amenities include a fitness room, meeting space, complimentary Starbucks coffee station, outdoor grills, dog walking area and much more.
Over the next 120-160 days, McClure and his design team (Mueller Architects and Shinberg Consulting) will look to create a bespoke product that will stand out to the most discerning eye, while launching a marketing campaign prior to Christmas to begin taking reservations.
"We are excited for sure. We haven't even started marketing this to the public, just some word of mouth to family, friends and colleagues, and we already have several of the units spoken for. We anticipate breaking ground end of February and launching a full-blown marketing campaign for any units we have left," McClure added.
Source: Todd Stanton
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