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#1 ·
QUOTE: Minimaha

Phase-1 of the urban renewel in downtown Portland. Phase-2 I would assume would be the OHSU campus-expansion on the south waterfront (to the right of the current development on the south waterfront). Also the area by the Rosegarden and the burnside bridge is going to be redeveloped with towers. Not to mention the huge renewel of Vancouver, Wa's waterfront projects. The area is going to look vastly different (imo) in years to come

 
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#625 ·
#626 ·
Langley proposes 750 apartments in Lloyd District development



Published: Friday, March 02, 2012, 7:07 PM Updated: Friday, March 02, 2012, 7:09 PM By Elliot Njus, The Oregonian

Portland-based Langley Investment Properties is planning to build about 750 apartments in the heart of the Lloyd District in one of the largest single apartment projects in the city's history.

A mixed-use project on the Lloyd District "superblock" site has been in the works for some time, but Mayor Sam Adams announced fresh details of the project in his State of the City address Friday. He said it would cost about $250 million, calling it the city's "largest private sector-only investment in years."

This project alone would almost equal the 852 apartment units granted building permits citywide in 2011. Those projects, spread across 21 developments, cost an estimated $87 million combined.

In a city craving new apartments -- the U.S. Census Bureau said this week the city had the second-tightest major rental market in the country, with 3.4 percent vacancy -- commercial real estate brokers say the project will have no problem filling up.

"I'm not saying (the Lloyd District) can absorb 700 units easily, but I'd rather be putting 700 units there than in Northwest, with everything that's going on there," said Greg Frick, a partner with HFO Investment Real Estate in Portland. Several smaller-scale projects are in the works in the Pearl District and the Alphabet District.

A one-bedroom apartment in or near the Lloyd District would currently fetch an average of $969 a month in rent.

"I would expect that this new project will be absorbed quite quickly," said Gary Winkler, a managing broker with Winkler & DuPont Commercial Real Estate Services. "It's just a matter of who they're going to cater to and whether construction will be offset by the rents they're going to get."

A document provided by the Langley describes the development as a transit-oriented "urban village." The four towers would be near the Rose Quarter transit center, where three MAX light rail lines converge, and a new streetcar line. They would be LEED certified and designed by GBD Architects.

Scott Langley, the chief executive officer of Langley Investment Properties, declined to comment further on the proposed development.

It's Langley's first development project since it split from Connecticut-based Ashforth Co. last year.

As was Ashforth's practice, Langley will be a minority partner in a joint venture. Its investor partner in this case, San Diego-based American Assets Trust Inc., bought the site of the proposed development from Ashforth last year.

It was not Ashforth's practice, however, to venture into Portland apartment buildings. The company generally stuck to Lloyd District and downtown office buildings.

It's not clear when the construction will begin, but Adams said it would create 3,000 construction jobs. Langley said the project is currently in the design and entitlement phase.
 
#631 ·
$250 million for 750 apartments? Wow that is expensive. At over $330,000 per apartment, what kind of rents will they be getting to justify the cost? $969 for a one bedroom won't cut it. Are they getting any special tax deals to justify the investment? I can see the 852 apartment for $87 million ($102,000 each) that have been built across the city, but these seem a little over the top in cost for apartments. $330,000+ per unit cost for upscale condos makes sense, but not for apartments. What am I missing?
 
#636 ·
Pedestrian bridge connecting Lair Hill to South Waterfront is now open
By KATU.com Staff Published: Jul 14, 2012 at 11:11 AM PDT Last Updated: Jul 14, 2012 at 11:29 AM PDT




PORTLAND, Ore. - Portland's newest pedestrian bridge opened Saturday morning.

The Gibbs Street Pedestrian Bridge runs over Interstate 5, connecting the Lair Hill neighborhood just south of downtown Portland to the South Waterfront area. The Portland Aerial Tram runs overhead.

A ribbon cutting ceremony was held Saturday to officially open the new walkway.

The bridge has been ready to go but there was a delay in opening it up to the public because the city wanted to make sure the elevator was working properly.

Rides on the Portland Aerial Tram will be free until 5 p.m. on Saturday for the event.

more photos






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http://www.katu.com/news/local/Pede...ll-to-South-Waterfront-is-open-162468826.html
 
#648 ·
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#650 ·
Oregon Sustainability Center


http://serapdx.com/projects/oregon-sustainability-center/

The Oregon Sustainability Center in downtown Portland was envisioned as the gateway to the region’s sustainability community. A high-rise designed in alignment with the Living Building Challenge framework, the Center would have integrated, under one roof, sustainability-driven businesses and non-profits, university-level education and research, energy policy and planning, workforce development, and public agencies.

http://serapdx.com/projects/oregon-sustainability-center/
 
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