East End Condo Plan Scaled Down ; the Village Cafe Project Goes From 250 Units to 185, and the Projected Price of Each Drops by $200,000.

Summary

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A developer is scaling back a condominium proposal for the site of The Village Cafe in Portland's East End, pleasing city officials and others who feared that the project would overwhelm the neighborhood's rustic seaport architecture.

GFI Residential of Boston is redesigning the project to reduce building costs, get bank financing and make it easier to sell the condos once they are built, a spokesman said.

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Extract

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East End Condo Plan Scaled Down ; the Village Cafe Project Goes From 250 Units to 185, and the Projected Price of Each Drops by $200,000.

GFI had planned to construct five buildings ranging from six to nine stories and containing 250 condominiums. The project would cover two acres at Newbury, Hancock and Middle streets and include str...

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