Guide to New Downtown Condos Projects
 

937 Condominiums

937 Condominiums 937 Condominiums features innovative floor plans designed to maximize light, attentive concierge service, and easy access to Portland's shops & restaurants. The design of 937 is based on fractal geometry, the idea of similarly shaped elements repeating throughout a visual landscape. It's seen in nature, and in the condominium design it takes shape as a random pattern of windows and solid space.

The mixed-use, 16-story tower occupies the half-block site at NW Glisan Street between NW Ninth Avenue and NW 10th Avenue, replacing an existing commercial retail building. Retail space is on the ground floor, with two levels of parking below and 114 condominium units above. The building stands 170 feet tall, and has a floor-area-ratio of 9-to-1.

The retail level is glass and pre-cast concrete, meant to give the impression of massive display boxes marching down the street. The geometry of the upper levels is carried out in wheat-colored stack-bonded brick, glass, steel and rain screen stucco. The building's balconies, enclosed in wine-colored glass, are stacked in vertical rows of various heights. 

John Holmes and the team at Holst Architecture created the 937 design, with Ankrom Moisan adding detailing and acting as the architect of record. Holmes and Mack Selberg worked together at Holst for four years, and Mack said joining forces was a natural.

Sales Update

As of early 2012 there are still new units available for sale at the 937.  There may also be units for resale — see Pearl District Condos

• Location:  NW 10th Avenue & Glisan Street
• Description:   The 937 is one of the few high-rise condo in the U.S. to be LEED Platinum certified. 937 features innovative floor plans designed to maximize light, attentive concierge service, and easy access to Portland's shops & restaurants. The 114 condos range in size, from 900-1600 square feet with penthouse residences ranging in size from 1250-2500 square feet.
• Number of Units: 16 stories (170 ft) − 114 condominiums
• Year Built:  October 2008
• Architects: Holst Architecture and Ankrom Moisan
• Developer: W&K Development (Geoff Wenker & Patrick Kessi)
• Green:  Platinum LEED
• Parking: 937 has 135 parking spaces on two underground levels.

The Encore

The Encore  Hoyt Street Properties announced in early 2006 that it is going ahead with its latest project between Northwest Ninth and 10th avenues north of Overton Street - a 15-story condo project called the Encore - designed by Boora Architects.

The Daily Journal of Commerce report this information about the Encore: The 175-foot building will be a gateway development from the existing Pearl to what's expected to rise in the next decade, said John Spencer, a planning and urban design consultant who worked on the master plan.  "One of the big concepts" in the master plan, Spencer said, are "buildings that have thin towers facing north with a lot of emphasis on glass and transparency and views of the river, and the parts that face back toward the Pearl District would be designed to be more contextual with the built neighborhood."

It was the first structure in the Pearl to be built in a semicircle on one face.  It was "the first project with eyes on the park," referring to a to-be-designed city-owned park between Northwest 10th and 11th avenues and Overton and Pettygrove streets.

Sales Update

As of early 2012 there are still new units available for sale at the Encore  There may also be units for resale — see Pearl District Condos

• Location:  Between NW 9th and 10th Avenue and north of NW Overton Street.  The 16-story building rises next to land that will become the Pearl's largest park.  The Encore is on the Portland Streetcar line.  See map of downtown.
• Developer:  Hoyt Realty Properties. Other projects that Hoyt Realty Group has done include Bridgeport Condos, The Lexis, Park Place Condos, The Pinnacle, Streetcar Lofts, and Tanner Place.
• Construction Type:  New building. 
• Number of Units:  The Encore is a 15-story building that is the first structure in the Pearl to be built in a semicircle on one face.  Their are 177 units to include lofts, one and two bedroom, townhomes, and penthouses.  
• Style:  Traditional.
• Green:  Leed green.
• Pricing:  Lofts, one and two bedroom starting at $248 to $617,000. Penthouses $1,303,000 to $2, 020,500 with square footage from 1,820 to 2,521. Townhomes $700,000 to $956,000.
• Parking:  Underground.
• Sales Office:  Hoyt Realty Group, 1130 NW 10th Avenue, Portland, Oregon.  Telephone: (503) 227-2000.  Showroom and sales office open daily 10-6 Monday-Friday, 11-5 Saturday and Sunday.
• Completion:  Construction started in the summer of 2006 and was completed in fall 2008.

Park Avenue West, nicknamed PAW, is a high-rise building that started construction in the spring of 2008 and halted construction a few month later when the bottom dropped out of the condo market. When completed it will stand at a height of 515 feet and become the third tallest building in Portland behind the Wells Fargo Center and the US Bancorp Tower.

Park Avenue West was scheduled to be completed in 2010 and was being developed by Tom Moyer (TMT Development). When completed, the tower will have a total of 32 floors and offer retail space, office space and 85 housing units. The plans call for the top 12 floors to be condos. It will also have a five floor underground garage with 315 parking spaces. The roofline will be at 476 feet, but the building will have two twin spires at the top, which put the building at a height of 515 feet. The twin spires are expected to be lit up at night.

According to the plans, the parking garage will connect to the parking garage under Park Block 5 (adjacent on the south side), which also connects to the Fox Tower.

The new Director Park is located just east of the Park Avenue West Tower (South Park Block 5).  Phase 2 construction begun in 2008.  A second restroom has been added to the cafe building design because of the projected number of cafe patrons. The second restroom will open to the interior and is anticipated to serve cafe activities. The building will extend 3.5 more feet to the north, but views from the corner into the park have been preserved. The cafe leasing process resulted in the selection of Dwayne Beliakoff who opened a cafe, named Viola after the stringed instrument.

 December 2009:  Park Avenue West Construction May Resume

Tom Moyer, one of Portland's most successful real estate developers, halted work on April 13, 2009 on Park Avenue West.  Park Avenue West is anchored on prime downtown land. The building, originally scheduled to open in 2011, already was more than half leased by a law firm and a Nike store. TMT Development said that construction financing could not be found. Lenders have tightened their requirements on loans and cut the amount of debt that borrowers can incur. In past years, lenders would allow developers like Moyer to borrow up to 75 percent of a property's value. Now, it's 45 percent. 

Construction was supposed to resume in early 2010 on Park Avenue West. But in December, 2009, it remains unclear if owner TMT Development can secure the financing it needs to complete the $150 million project at Southwest Park Avenue and Yamhill Street.

• Location:  431 S.W. 12th Avenue - SW Park Avenue and SW Yamhill Street.  See map of downtown.
• Developer:  Tom Moyer and TMT Development Company.  It falls just a few blocks from Moyer's previous downtown tower, the Fox Tower and the 1000 Broadway building.
• Construction Type:  New construction.
• Green:  They are shooting for a LEED designation.
• Number of Units:  85 condominiums on 12 floors.  
• Prices:  Unknown.
• Parking:  Parking spaces will be available.
• Completion Date:  Park Avenue West was scheduled to be completed in 2011 but the suspension in 2009 will mean the building will be completed later.

Downtown Condos Currently for Sale  Downtown Condos.

The Sheldon:  Cooperative Housing

Green Light Cooperative announced in early September 2009 that they are in the process of building a 50 unit cooperative housing unit for seniors in Northwest Portland.

The Sheldon will be a limited equity age 55+ housing cooperative that is member owned and controlled. The project will be financed through membership equity shares and, most likely, a HUD insured mortgage held by the cooperative corporation and secured by the building and land. Cooperatives represent a fresh option for active adults 55 or older. Housing Co-ops focus on the preservation of assets as well as maintenance of community and personal control and allow residents to own a share of the building in which they live. Unlike an apartment or Continuing Care Retirement Communities, the entire asset is controlled and owned by those who live in it.

The Sheldon will offer 1, 2, and 3 bedroom homes on six floors.  A large part of the lower floor will be a commons area to include a wellness center, library, and lounge. The commons area will also include a garden and terrace. The lower level will have 54 underground parking spaces along with space for storing bicycles. There is also an area on the ground floor set aside for a restaurant.

The building is named after Bing Sheldon, the chairman and founder of SERA Architects.  SERA is designing the building. Bing has led the charge for the development and construction of Oregon’s first senior cooperative housing project where he intends to reside with his wife Carolyn.

 Oregon's First Limited Equity Co-op

The Sheldon will be the first limited equity co-op in Oregon.  In a limited equity cooperative, the individual does not need a mortgage for their unit. Individual share purchase prices are usually very low. Co-op share ownership entitles one to a long-term lease on a unit and a vote in corporate governance. The individual is both a "tenant" because of their lease with the corporation, and an "owner", because of their stock ownership and participation in group governance. The co-op members elect a Board of Directors who make most decisions about the co-op.

In a co-op, residents are never evicted unless they violate their lease. Many members stay for decades. When residents leave they sell their share(s) of stock and not their unit, as condominium owners would. In a limited equity cooperative, the value one can obtain for one's stock at sale is restricted by a specific formula, to make the housing affordable for current and future residents. Limited equity co-ops are non-speculative homeownership.

• Location:  In the Northwest District neighborhood. Green Light Cooperative has an option to purchase a parcel of land at NW 19th Avenue between NW Lovejoy and NW Kearny.  See map of downtown.
• Developer:  Green Light Cooperative.  The partners are Mark Desbrow and Noel Johnson. 
• Construction Type:  New construction.
• Green:  They are aiming for a LEED designation.
• Number of Units:  50 condominiums on six floors. Common space includes a wellness center, library, lounge, terrace, and gardens.
• Style:  The Sheldon will have 1, 2, and 3 bedroom homes available.  Storage space will be available for each unit in the lower level of the building.
• Prices:  To be determined.
• Monthly Fees:  Monthly homeowner dues, which are proportionate, will be used by the co-op to pay the common mortgage, property taxes, operating expenses and reserves kept for future building operations and repairs.
• Parking:  Underground parking spaced available.
• Sales Office:  Telephone 503-928-7473.
• Reservations:  The Green Light Cooperative started taking reservations on September 21, 2009. Call 503-928-7473 for details.
• Completion Date:  As of early 2012 construction has not started.

Downtown Condos Currently for Sale  Downtown Condos.

Maps of Downtown Portland

• Downtown Buildings and Projects  Map showing the location of major buildings, condos, projects under construction, and planned projects as of August 2005

• Public Transportation in Downtown  Map showing the MAX light rail route, streetcar route, and bus routes in the downtown area.