PORTLAND PRESS HERALD • September 5, 2024
Observations about the Yard South project in South Portland: PK Realty bought the property in 2018 for $7.7 million as a speculative investment. If rezoned for residential development, the return on investment on the purchase price of $7.7 million, with views of the Portland skyline, would be astronomical. It would be a mistake to grant a zoning change before the new comprehensive change is completed and adopted. New FEMA floodplain maps, which project future sea level rise floodplain elevations, show that a 3-foot sea level rise, possible in the next 30 years, would have this tax parcel half underwater during a storm event. Given this, wouldn’t it be sensible to retain the existing working waterfront designation? ~ Jeremy Doxsee, South Portland