PORTLAND (WGME) -- Portland's most iconic building, is now in foreclosure.
Facing low occupancy and years of neglect, the downtown landmark is seized by the bank. The Time & Temperature building is 92 years old this year and tenants say, that is in desperate need of a little TLC.
Attorney Joe Lewis and engineer Robert Bowker, who have offices on the tenth floor, say previous owners have neglected the building. And it cost them. Several businesses have moved out. "It's staggering to me that we're in such a bad place with such a great building," says Joe Lewis, attorney
"It's a beautiful old building. It's just unfortunate to see people leaving and the building just kind of going into disrepair," says Robert Bowker, engineer. Chris Roberts owns one of a handful of shops on the ground floor. He says back in it's hey day this was Maine's first indoor mall, even before anyone heard of the word mall. Now, this iconic building is in foreclosure as Wells Fargo takes possession. "You're seeing people leave, but you're not seeing anything new come back in. It gets a little unsettling after awhile," says Chris Roberts of High and Tight. Some of the tenants, say foreclosure may not be the worst thing. They're hoping Wells Fargo puts some money into the Time and Temperature Building so they can find a buyer, and that that buyer will put even more money into the building to restore it to its former greatness." "It's kind of like this hidden gem in Portland. And there's so much potential I would love to see it just kind of thriving again," says Mary Zarate of Z Fabrics "I would love to see an anchor store go into the corner space when the radio station leaves and it fills the whole building up with businesses," says Leigh Slaughter of The Bead Hound. All it takes, they say, is the right buyer for those dreams come true.
"It's an important landmark building for Portland. And frankly, there's good bones to this building. So it would be wonderful if somebody would dress it up and really take care of it," says Lewis.