Grand Opening Event for RiverPlace, Maine's First Luxury Rental Community, on waterfront in South Portland

WHAT: Media Open House/Brief Formal Ceremony re: RiverPlace, Maine's first luxury rental community. The $17 million, 136-unit project replaces an industrial wasteland on South Portland waterfront.

Media invited to tour site, including model units and just-completed clubhouse. Developer Howard Goldenfarb to receive Proclamation from City Manager Jeff Jordan. Residents and a neighbor available for interviews.

WHEN: Wednesday, July 23, at 11 a.m.

WHERE: RiverPlace by Ram (Follow Route 77 over the Casco Bay Bridge into South Portland. At the end of the bridge, take a left onto Broadway. Follow Broadway to the flashing yellow light at Mussey Street. Turn left on Mussey, and follow to RiverPlace Drive.)

DID
YOU KNOW?: - First of its kind ö No other rental community in Maine offers the luxury, views and amenities of RiverPlace.

- Before & After ö 11-acre RiverPlace site is former home of rusted, unsightly industrial buildings. 10,000 tons of material recycled or removed.

- Golden touch ö Developer Howard Goldenfarb is known for breaking new ground in Maine. He was among the first to renovate Old Port buildings into office space. Also developed Foreside Commons, area's first luxury condominiums; The Maine Outlet in Kittery, New England's first outlet mall; and Citicorp Park in South Portland, Greater Portland's first suburban office center.

- Rental crunch ö The area's rental market remains tight. RiverPlace will help alleviate by trickle-down effect.

- We're not Boston ö The Boston Sunday Globe recently reported that low interest rates are hurting luxury rental market there. Boasting a 40 percent occupancy rate with buildings still under construction, RiverPlace isn't feeling the pinch. Why not?

MEDIA CONTACT: Call Sherrin Vail at RiverPlace, 767-0900, or Jason Wolfe at Wolfe PR, 883-6083, for more info.