Carol McCracken (Post # 2,435)
The Grand Trunk Office Building at 1 India Street was recently sold to Gorham Savings Bank to be used as office space for the bank according to a source familiar with the deal. The Bank recently opened a branch at 118 Congress Street on Munjoy Hill. It has a new Interactive Teller Machine (ITM) which is the latest advance in banking technology.
One India Street has a fascinating history as an important part of Portland’s financial success dating back to the 1800s. The 3-story building was built in 1903 as the office building for the Grand Trunk Railroad, the pet project of John Poor – a visionary for the City of Portland. It will require extensive renovation as it has empty for years now. For newbies in the area interested in Portland’s history, the history of John Poor is worth checking out.
Also, the roughly 1 acre of empty land located on Fore Street at Hancock Street will go to closing in November 2015. Located near the Marriott Residence Inn, the property will be a mixed use development according to a source familiar with the deal. A hotel on the property is likely. So that mystery will soon be over!
Also noteworthy is that the six unit rental building located at 14-16 North Street is for sale. However, there is no ‘For Sale’ sign on the front lawn. The building is owned by Barbara Vestal and Ned Chester, attorneys, who live and have a law firm on the Hill. They are also founders of the Souls, the group trying to stop the redevelopment of 58 Fore Street through a referendum on the November 3rd ballot.