Portland Development Firm Buys Casco Bay Island for 5.35 Million Dollars

Wait until you see the view from one of the bathrooms!

A tiny little island in the heart of Portland Harbor is some prime land. The 12-acre northern half of House Island, in the center of Portland Harbor, was brought for almost 5 1/2 million dollars. The company that bought it is going to use it as an investment for the Portland Foreside projects. What is Portland Foreside? According to their website:

Portland Foreside's 10 acres will become a mixed-use neighborhood in the best sense of the term. The buildings are being designed to meet the historical significance of the area allowing for year-round enjoyment of Portland’s waterfront through much needed housing (apartments and condominiums), office space, hotel lodging, restaurants, local and national retail, and impeccably designed outdoor spaces to promote communal gathering.

According to MaineBiz, Casey Prentice and Kevin Costello are the managing partners of the PF Capital Fund and Portland Foreside Projects. Prentice is also the president of the Prentice Organization and Prentice Hospitality Group, which owns and runs (to name a few) Chebeague Island Inn, EVO Kitchen + Bar, Twelve, a restaurant opening this summer in Portland, and Portland-based catering company 58 Culinary. So, they've got some skin in the game and they know what they are doing. Now, back to that island they bought.

There are three original homes on the island from around 1907 that have been under renovation since 2014. The homes are gorgeous. Original charm with modern-day amenities. They even brought in power and public water from Peaks Island. Now we're talking luxury. But there is a view in one of the homes from the bathroom that would make me spend even more time in the bathroom! How would you like to brush your teeth while gazing at Fort Gorges?

The property sold is in the northern part of Hope Island. The southern half of the island is home to Fort Scammel, a fortress constructed in 1808 and used to protect Portland during the War of 1812 and the Civil War. Obviously, there is a lot of history that comes with the island and that is why it was designated a historic district by the Portland City Council in 2015. That means that the Portland Historic Preservation Board looks over any improvement. Don't look for a Walmart popping up anytime soon.