Old Bank Vault to Become Portland, Maine’s, Newest Speakeasy

If there's one thing you can count on in Portland, Maine, it's that someone has the next great restaurant or bar idea just waiting to be executed. And visitors to the city may not have to wait that long for that next idea to come to life.

According to the Portland Press Herald, a prominent developer has purchased the old People's United Bank Building in the heart of downtown Portland.

While it may invoke an eye roll from many, the developer plans to transform that historic building into the city's newest hotel while embracing the historic nature of the building as well as the history behind.

The hotel isn't likely to incite much excitement from locals but it's the developer's idea on what to do with the another part of the building that will.

For more than a century, the building has been home to a functioning bank. Which including a large vault in the basement of the expansive building. The developer plans to transform that old basement bank vault into one of the city's most talked about bars.

The developer also created the Press Hotel, one of Portland's most popular boutique hotels. With the Press Hotel, the theme was centered around the fact that the building was once home to the Portland Press Herald.

With this new hotel, you can expect that the boutique theme will be centered around banking. That will include the not-yet-named bank vault speakeasy.

The developer hopes to complete construction and open the hotel as well as the speakeasy in 2026.