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Development of the island was explored in the 1980s, with wells drilled for 14 potential properties, but these plans fell through due to a weak real estate market. The island was purchased in three parcels by the Maine Coast Heritage Trust in 2003 and 2004 for a total cost of $6.3 million. [4]
The Old Port district is located on the southeastern side of the Portland peninsula, overlooking the wide mouth of the Fore River and the Port of Portland.It is bounded on the east by Franklin Street (U.S. Route 1A), with Commercial Street running southwest along the waterfront, and 19th-century buildings on its north side as far west as Maple Street.
Real estate on Frye Island has skyrocketed over the past decade or so, and many of the waterfront homes assess at extremely high values. On the island, there are two marinas, various athletic and recreational facilities, several public beaches, a convenience store, an ice cream stand, a restaurant with a bar, and a golf club with a lounge that ...
The Navy Covenant arrangement includes further contingencies for MRRA in that the 25 percent annual share is required for real estate proceeds in excess of $7 million and up to $37,400,000. If proceeds are excess of $37,400,000 and less than $42,400,000, MRRA is not required to pay the government any portion of the proceeds.
The Maine Coastal Island Registry (CIR) catalogs 3,166 of these coastal islands, along with some notable inland freshwater islands, such as Frye Island in Sebago Lake. According to the most recent CIR data, 1,846 islands are registered to private owners, while 204 islands, which contain four or more structures, are exempt from registration.
4. WELLS, MAINE. Wells may be the third oldest town in Maine (it was established back in 1641 and named after the city of Wells in Somerset, England) but we wouldn’t dare put it in the bronze ...