Another developer hightails it from Portland’s waterfront

The Portland Forecaster reports that Eric Cianchette, owner of the Portland Regency, will not be pursuing a building project on the Maine Wharf at this time. The Maine Wharf, which is roughly behind the Dry Dock Restuarant, would have been home to a 120 room hotel, with the first floor dedicated to marine dependent business. Along with the $45 million hotel, Cianchette planned to reconstruct the aging pier for roughly $10 million.

Cianchette’s lawyer cited upcoming amendments proposed by property owners in the Waterfront Central Zone as his reason for not continuing with the project at this time. Cianchette is taking a wait and see approach for now.

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