Unleashing Redevelopment Potential on Main Street & Financing Underperforming Historic Properties Workshop

Unleashing Redevelopment Potential on Main Street & Financing Underperforming Historic Properties Workshop

Lachman Architects & Planners was invited as a presenting panelist at Maine Municipal Association Annual Convention to describe how thousands of architecturally attractive historic commercial buildings are underperforming and hamper economic activity. With smart strategies many are candidates for redevelopment, which benefits both property owners (reduced expenses and increased income) and municipalities (increased property values and assessments).

This Annual MMA convention was attended by over 2000 attendees, exhibitors and speakers This workshop pointed out why and how targeted development and property values play important roles. Local officials can proactively encourage redevelopment and transition – from community liabilities into assets. Denis’s presentation described how real project examples became financial and community successes. Androscoggin Bank invited Lachman Architects & Planners to present Financing Downtown’s Underperforming Historic Properties because of their extensive statewide experience revitalizing downtowns and town centers.

Maine has thousands of underperforming properties needing improvement and requiring loans to make improvements. However getting cash up front to pay for improvements, so they better perform later, is the challenge. Many of these properties are eligible for special programs to offset costs of improvements. This interactive workshop for commercial lenders covered strategies and opportunities to tap into (1) performing properties, (2) underperforming “stuck” properties, (3) the bank’s own properties.