On a tree-ringed site in coastal Maine, construction is underway for The Mark, a 45-unit market rate condo building with high-speed elevator to all four floors, deeded parking, and a gym outfitted by Gronk Fitness. This area directly north of Portland is highly desirable for people at all stages of life, offering gorgeous landscapes, top rated schools, and proximity to word-class restaurants, cultural events, and medical services.
The development team of The Mark attends a ground breaking event on Thursday, Nov. 3 in Cumberland, Maine.
List prices at The Mark will start at $449,000 about half the price per square foot as new builds in Portland, according to Tom Landry, broker and owner of Benchmark Real Estate. “We’re in the midst of a housing crisis,” he said. “Despite interest rate hikes, we are not seeing prices around Portland fall because there is still very high demand and very little supply.” Landry also considered the cost of energy and other economic uncertainties as to why many current or potential homeowners are looking for the more controlled costs of a condo. “The Mark is just what we need at the perfect time, for first time buyers to downsizers,” he added.
The first listings will hit the market on Tuesday, Nov. 8, and Landry is so excited to meet future residents that he’s offering a bonus for the first ten units under contract by Jan. 1, 2023—both the buyers and their agent will receive a $100 gift card to local grocer Rosemont Market and the buyers will receive an additional $5,000 credit toward closing costs or buying down their interest rate.
“There hasn’t been a project around here that’s widely accessible like this in quite some time,” said Mark McClure of GenX Capital Partners, which has financed over $500 million in projects nationwide. In his home state of Maine, McClure takes extra interest in projects that build immediate equity for buyers. “It’s exciting,” he added. “We’re ready and raring to go.”
For more information, visit themarkcumberland.com. For sales, contact Tom Landry at 207-939-0185 or landryteam@benchmarkmaine.com.
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