Olympia To Develop Maine State Pier

In an expected 5-3 vote, the newely elected Portland City Council on Monday named Olympia Companies to develop the Maine State Pier. The vote comes after repeated attempts to decide between Olympia and Ocean Properties of Portsmouth, NH. A number of previous votes had ended in ties.

According to councilors the decision for the $100 million project came down to Olympia’s design over Ocean Properties’ funding. The seven-acre development will include a mega-berth for cruise ships, a hotel and office and retail space.

Many are questioning the decision as Olympia has not presented a bona fide plan as to how the project will be financed and how state and federal permitting issues will be overcome. A strong benefit of working with Ocean Properties was that the company could internally finance the project, ensuring its completion.

Voters changed the balance on the City Council by electing an Olympia supporter to replace a councilor who backs its competitor. The council had been deadlocked 4-4 on whether to choose Olympia or Ocean Properties. John Anton’s victory over incumbent Jim Cloutier apparently gave Olympia the five council votes it needed to be selected the city’s partner for the project.

Cloutier had been a strong advocate for Ocean Properties. Prior to the council vote Anton reaffirmed his support for the Olympia Cos.

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