Portland’s cityscape is on the brink of transformation as the Herald Square project takes shape at 385 Congress Street. Developed by Fathom Companies, this multi-phase endeavor is reimagining the space that once housed the Portland Press Herald printing press.
Phase I
In February 2023, the Portland Planning Board gave the green light to Phase I of the project, primarily centered around the hotel. Phase I encompasses the construction of nine upper-floor condos and a 75-space parking garage. While specific construction details are still in the planning stages, optimism surrounds the project’s outlook.
Circumnavigating Inclusionary Zoning Requirements
Herald Square is aligning with Portland’s inclusionary zoning requirements by opting for a financial contribution to the affordable housing trust fund. This amounts to approximately $700,000 for the 179 hotel rooms instead of providing low-income units.
Next Phases
The project’s remaining phases, including the construction of two condo buildings, are currently awaiting board approval. The sequencing of development, whether the hotel or condos will take precedence, remains undecided.
Retail & Restaurant Space
A substantial aspect of the Herald Square project involves earmarking approximately 11,500 square feet of space for retail establishments. Additionally, a 5,100-square-foot restaurant is poised to infuse vitality into the area, offering an array of dining and shopping experiences.
Recreational Space
Herald Square’s plans incorporate recreational spaces and provide more than 330 parking spots, catering to the practical needs of residents and visitors alike. This approach aims to enhance the overall community experience.
Summary
Herald Square is a development project that has the potential to significantly change Congress Street. Its historical significance, being situated next to Portland City Hall and on the former site of the Portland Press Herald printing press, adds a layer to its evolution. As the project progresses, it endeavors to shape Portland’s urban landscape, bringing both opportunities and challenges to the city.
