The city of Portland is considering a $200 million to $300 million redevelopment project to build new condos, hotels and shops downtown on Congress Street.
Three hundred condominiums, a 150-room hotel, shops and parking would be built east of City Hall if the project is approved. The development would be named Herald Square, paying homage to the former site of the Portland Press Herald’s printing plant, the Portland Press Herald reported Thursday.
The first stage of construction could begin next year if the project is approved by the Portland Planning Board, according to Joe Dasco, operating partner of the project for Reger Dasco Properties of Portland.
Kevin Kraft, deputy director of the city’s Planning and Urban Development Department, said he has begun reviewing Dasco’s application for the project. An initial planning board workshop on the proposal will be held later this spring.
Dasco will have to receive approval for the site’s plan and then individual approval for each stage of the project, Kraft said.