 (1) (1).png)
News:
Northern New England
Posted: December 6, 2024
PROCON, Dartmouth College, and Cube 3
break ground on new residential hall
Hanover, NH Dartmouth College, in partnership with PROCON and Cube 3, has officially broken ground on a new apartment-style residential hall for juniors and seniors at 25 West Wheelock St. Designed by Cube 3, this project marks a significant step in Dartmouth’s commitment to expanding housing capacity as part of president Sian Leah Beilock’s pledge to add 1,000 new beds over the next decade.
The groundbreaking ceremony, held in August, celebrates the beginning of construction on the approximately one-acre site on the north side of West Wheelock St. The five-story structure will provide 285 beds in a mix of two-, three-, and four-bedroom apartments. Each unit will feature a full kitchen, living room, and ample storage space to house undergraduate students.
“We are excited to get to work on this residential hall,” said Josh Keniston, senior vice president of capital planning and campus operations at Dartmouth. “This project is an important step in addressing the critical need for more housing on campus and in the Upper Valley.”
The new apartment-style building is designed with a strong emphasis on health, wellness, and sustainability, aligning with the priorities outlined by president Beilock. The building will target LEED Gold certification and utilize high-performance materials designed to meet energy conservation goals. The facility is also planned to be net carbon-neutral, relying heavily on sustainable energy sources and being largely independent of fossil fuels.
“We are proud to partner with Dartmouth on this significant project,” said John Stebbins, CEO of PROCON. “Our team is dedicated to delivering a facility that not only meets Dartmouth’s housing goals but also reflects their commitment to sustainability and student well-being. We look forward to bringing this innovative space to life.”
Construction is expected to begin in October, with the anticipated completion date set for summer 2026. This project represents Dartmouth’s broader efforts to meet its students’ housing needs and is part of a larger strategy to provide additional housing for graduate and professional students, as well as faculty and staff. Further announcements are expected later this year.
MORE FROM Northern New England
Reveler Development celebrates final phase of work at The Levee - new 51-unit apartment building in Biddeford
Biddeford, ME Reveler Development has begun construction on 10 Upper Falls Rd., the fourth and final phase of Reveler’s master-planned development in downtown,The Levee. “We’re thrilled to embark on this major milestone at The Levee,” said John Laliberte, CEO of Reveler
.png)
Quick Hits
.png)
Columns and Thought Leadership
Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
The Greater Portland industrial mid-year market update - by Nate Roop
The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for
Residential is here to untie the office space doom loop - by Thomas House
The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
Interest rates and inflation - by Matthew Bacon
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.