November 29, 2016

FAME Approves Financing for Thompson’s Point Project

Forefront Brick South, LLC Plans Events Center

The Finance Authority of Maine (FAME) recently approved a $500,000 direct loan to Forefront Brick South, LLC to help finance property improvements and working capital related to the redevelopment of a vacant building into an events center at Thompson’s Point in Portland. Forefront Brick South, LLC plans to develop and eventually operate a 35,000 square foot events center at Thompson’s Point. The events center is part of a comprehensive $120 million mixed-use development project on the thirty-acre waterfront site. This particular project, which helps to rejuvenate a former railyard, is expected to create ten jobs. FAME partnered with Portland Development Corporation on the financing for this project. “FAME is pleased to support this exciting and worthwhile development,” stated FAME Chief Executive Officer Bruce Wagner. “We are happy to help finance this development at Thompson’s Point and the creation of an events center with good-paying Maine jobs.” “We are grateful for FAME’s assistance on this important project,” said Christopher Thompson, principal with Forefront Partners I, LP. “This financing will allow us to proceed with renovation of the Brick South historic rail building into a multi-use event center, which will showcase the building’s historic character and provide much-needed event space for a variety of event types, from weddings and trade shows to corporate events, arts events and performances, and more. It will offer a custom-created catering kitchen, bar, breakout rooms and support space, and will provide the type of venue that is much-needed in the Portland market.”