Under the Maine Condominium Act, an entire condominium development is treated as only one parcel of land for many zoning related issues, such as lot size, frontage, density, etc. In addition, there are typically no space and bulk restrictions relating to the location of buildings or units to one another. This presentation will show how a number of recently developed projects have been able to meet project objectives by structuring the project as a condominium and being able to develop the project in ways that would not have been possible without the use as a condominium. It will review the use of land parcel condominiums or “lot line condominiums” where the unit boundaries are lots on the ground and show how the condominium structure enabled the development. It will also review the use of the Condominium Act as a development tool to meet other project financial or programmatic requirements. Finally, it will review a change in the language of the Condominium Act that MEREDA got enacted during the last legislative session and the importance of that change to make the Condominium Act a more useful development tool.
Gary Vogel, Drummond Woodsum – Moderator and Presenter
Brooks More, Development Director, South Portland Housing – Presenter
Nathan Szanton, President, the Szanton Companies – Presenter
This event is sponsored by Norway Savings Bank.