BANGOR – A Bangor partnership unveiled initial details Friday for an upscale condominium complex proposed for the city’s waterfront redevelopment zone.
Development plans for Belvedere on the Riverpark, as the complex has been named, were submitted to the city’s Planning Office on Friday by Penview Associates, a Bangor partnership composed of Mo Fer, a commercial and residential real-estate broker with ERA Dawson Bradford Realtors and Brian Ames, president of Ames A/E, an architectural and engineering firm.
Fer said he and Ames each plan to occupy one of the units, Fer said.
“This is like my epitaph,” he said. “I see it like a signature project for me.”
From the Italian belle vedere, meaning “beautiful view,” the name for the complex refers to an architectural structure designed to overlook attractive scenery, according to an announcement issued by Penview Friday.
The complex will feature a penthouse-level belvedere, which Fer described as akin to a widow’s walk, similar to those found on some of Maine’s grand waterfront homes.
City councilors in late January approved a purchase and development option with Penview Associates for a city-owned parcel at the corner of Railroad and Summer streets.
That parcel currently is the only one designated for residential use in the city’s waterfront master plan.
Penview’s plan calls for the construction of 28 to 30 residential condominium units, with a minimum investment of $5.3 million.
As Fer sees it, some of the best views of the Penobscot River and historic neighborhoods existing along it will be some of the Belvedere’s biggest selling points.
Fer recently had the chance to see the views himself from the bucket of a cherry picker elevated to a height equivalent to the penthouse level of the complex.
“It was quite amazing and quite exciting,” he said.
To protect the views from the complex, Penview’s development pact with the city includes a “view line conservation easement.” The easement prohibits additional development that would obstruct views of the river from the condominium complex for 50 years.
Amenities will include a swimming pool, private health club, heated indoor parking, security systems, ample storage and easy access to the walking trails the city plans to develop through its proposed 13-acre riverfront park.
According to Fer, construction will begin around August and units, which will range from about 1,100 to 3,000 square feet, will sell for roughly $200,000 to $400,000, depending on the size and floor plan. Each unit will include a balcony overlooking the Penobscot River.
The site is adjacent to Bangor Waterfront, which includes the city marina and a proposed outdoor amphitheater.
Fer noted that the Belvedere also will be within a short walk of downtown restaurants and pubs, cultural attractions, shops and a racetrack casino being developed at Bass Park.
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