Portland hotel-condo project scaled back

PORTLAND – Developers seeking to build a $110 million hotel and condominium complex on the site of a former meatpacking plant at the edge of the Old Port district are scaling back the project, citing a softening of the condo market.

“We try to be light on our feet and respond to market conditions,” said Tom Niles, executive vice president of development for the Procaccianti Group, the Rhode Island firm leading the project.

The original plan included a 230-room Westin hotel, 92 luxury condos, about 20,000 square feet of retail space and hundreds of underground parking spaces.

Niles said the plan now calls for a “significantly” smaller number of condo units and a reduction in the number of hotel rooms, although he provided no specific figures. He said the cost of the project also would drop, but he had no firm numbers.