The Mark at Cumberland Foreside is almost ready to break ground, with hopes of being in the dirt the first week of August.
The high-end, 45-unit condo project by developer Mark McClure will feature one- and two-bedroom units from 620 SF to 1,133 SF, with price points starting at $440,000 up to $696,000, featuring a solid range of options for all budgets. Amenities will include a workout room designed by Gronk Fitness, a billiards room with a community bar area, dog washing station, car charging ports and much more.
Renderings from Mark Mueller Architects shows plans for the interior of The Mark at Cumberland Foreside. Courtesy GenX Capital Partners.
Situated right off Route 1 in Cumberland, between Falmouth and Yarmouth, The Mark’s tree encapsulated location will offer tranquility while remaining a quick trip to Interstates 95 and 295, downtown Portland, shopping at The Maine Mall, downtown Falmouth, and shopping in Yarmouth and Freeport.
“We are ready and raring to go,” said McClure. Prior to groundbreaking, McClure stated that the development intends to soft launch a certain number of units. Then once in the ground, they are planning an all-out marketing campaign throughout New England and into Washington D.C., New York, New Jersey, and other locations.
“People have been hammering us with emails for the last several months,” said McClure. “They’re asking about unit mix, pricing, availability, et cetera. There seems to be a massive segment of investors looking to buy more than one unit, as The Mark will not only be a great place to live, but an incredible long-term investment, especially with this growing market and huge shortage of housing.”
McClure should know. He and his partners Paula Wallem and Ronnie Goddard developed The Cottages at Pine Meadow in Saco, a 32 home, over 55 community. In less than a year, current owners have seen appreciation in values for their homes ranging from 15 to more than 30 percent in some cases.
Renderings from Mark Mueller Architects shows plans for the interior of The Mark at Cumberland Foreside. Courtesy GenX Capital Partners.
“As a developer who has also financed more than $500 million in projects nationwide, I like to leave a little meat on the bone, if you will, for a buyer,” McClure added. “I want them to have immediate equity when they walk away from the closing table, helping them hedge against any downturn in the market, enjoy a larger take home profit if they decide to sell in a few years or, if they go to refinance, to pull some cash out of the asset. I don’t want to squeeze out every penny, we want to leave enough in there for it to appraise well and give the customer some cushion.”
Portland-based broker Tom Landry and his firm, Benchmark Real Estate, will handle the sales and marketing for The Mark, targeting audiences throughout the Northeast and down the Eastern Seaboard.
“Bottom line, these units are going to sell as fast as they are listed,” said Landry. “There hasn’t been a new build like this in Greater Portland for quite some time, offering an unparalleled blend of fit, finish, amenities, location and more, all at incredible prices. Whether you’re a first-time buyer just starting out, you’re downsizing/rightsizing, you’re a snowbird looking for the perfect place for summers in Maine or even an investor you won’t want to miss out. It’s going to be exciting!”
For inquiries about the steps in securing a unit, call Tom Landry of Benchmark Real Estate at 207-939-0185.
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