Fathom Companies Receives Approval to Build Boutique Hotel, Luxury Condominiums in Portland, Maine
The Maine-based Hospitality Management and Real Estate Development Firm Currently Operates Two Hotels, Three Restaurants, with Six Additional Projects - Mixed-use, Hotel, Residential - in Predevelopment
PORTLAND, Maine, February 21, 2023 (Newswire.com) - Fathom Companies, the Maine-based hospitality enterprise, is pleased to announce they received City of Portland approval on the Major Site Plan for 385 Congress Street - a boutique hotel including nine luxury condominiums - which is part of the larger Herald Square development project in the heart of Portland. The plan to the city was approved on Feb. 14, 2023, by a unanimous vote of the City of Portland Planning Board.
This project ("385 Congress Street") is part of a mixed-use development ("Herald Square Project") that will be comprised of two residential buildings being developed by Reger Dasco in addition to the hotel by Fathom Companies.
Fathom Companies has purchased the lot known as 385 Congress Street. When complete, the 12-story 385 Congress Street building will consist of up to 179 rooms and suites spanning nine floors with nine luxury condominium units on the top two floors. Each condominium will have access to a balcony or private terrace and will be assigned parking spaces from the two-story parking facility underneath the hotel. Hotel amenities will include a full-service restaurant with outdoor seating, a state-of-the-art fitness center with outdoor space for yoga classes and guest offerings, as well as meeting and pre-function spaces with direct access to the garden terrace. This property will offer interior finishes and amenity levels comparable to a luxury four-star brand hotel.
Fathom Companies is known for successfully developing high-end projects by adding value through thoughtful design and fastidious attention to detail. Each property provides an authentic and unique local experience by creating a natural extension of its neighborhood with a connection to local art, food, drink, and culture.
On the 385 Congress Street development, Fathom Companies President Jim Brady said, "We are committed to reinvesting in our community and creating jobs in the tourism and hospitality sector which fuels many of the small businesses in Greater Portland. As the developers and management company of The Press Hotel, it feels uniquely special to be the future stewards of the property where the printing press for the Portland Press Herald once was." Brady continued, "As with The Press Hotel and all of our different properties, we take pride in our careful consideration of how this new building will fit within the fabric of our community and be a welcomed respite for residents and visitors."
Fathom Companies is comprised of two main divisions: a hospitality management arm that focuses on operations, sales, marketing, revenue management, and accounting and a real estate investment and development arm concentrating on developing and providing consulting services for ground-up construction, historic renovations, and repositioning of hotel, office, residential, and mixed-use properties.
Fathom Cos. focuses on exceeding expectations at every touch point, delivering operational efficiencies and bottom-line results, as well as balancing business success with the commitment to building strong relationships and community partnerships. Fathom continues to expand its hospitality portfolio through development, ownership and/or joint venture partnerships as well as third-party management agreements.
Source: Fathom Companies