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Guide to New Downtown Condos Projects
Let me Help You Find the Right Condo
I can help you with finding a new or existing condo in the Portland metro area. If you’re interested in in a condo, call me at (503) 497-2984 or e-mail me at Susan Marthens.
Search for Condos
To search for homes in downtown Portland, go to Search Downtown. You can use over 100 search parameters and then select a specific area off a neighborhood map by drawing a box around that area. Alternatively, you can just specify the criteria and obtain all the current listings in the downtown area.
Comparing Condos CondoCompare is a Web site that focuses solely on the condo market. The Web site populates its live listing data from the Regional Market Listing Service (RMLS). The format allow you to compare units and buildings in two different ways. First, you can compare any building to other buildings in both the same market as well as buildings in other markets. Secondly, you can compare units in the same building as well as units in other buildings. CondoCompare also allows you to sort units and buildings side-by-side so you can compare them in one place. CondoCompare has its only real estate agents but we think their idea of comparing condos is so important, we are willing to point the site out to you.
List of Condos in the Portland Metro Area
Skyscrape has a very complete list of condos in the metro area. You can view the list by clicking here.
SkyscraperPage.com’s forum has been one of the most active skyscraper enthusiast communities on the Web. The global membership discusses development news and construction activity on projects from around the world, alongside discussions on urban design, architecture, transportation and many other topics.
Hoyt Properties, one of the largest developers in the Pearl has their master plan (as of 2009) online. You can access the document by clicking here.
Lawsuits Filed by Four Condo Owner Associations
The Oregonian reported in mid August 2013 that “A flood of lawsuits over allegedly leaky water pipes has tied up at least four Portland condominium buildings in court, leaving hundreds of condo owners essentially unable to sell their units until the legal wrangling is over.” The owners associations of the Elizabeth Lofts, the Avenue Lofts, the Benson Tower, and The Edge Lofts have all filed lawsuits against Victaulic Co., a Pennsylvania company that supplied the products owners claim are failing and causing property damage. Together, the buildings comprise 621 condo units.
But for owners and would-be residents, the biggest inconvenience may come from the lawsuits themselves. Litigation tends to cut off financing for purchases in affected condo buildings, so owners are left to find all-cash buyers. Identical products were installed in many other area buildings during the condo boom of the mid-2000s, too, meaning the current battle may only be a precursor to an even bigger fight down the road. Property managers in other buildings have notified residents they’re inspecting the plumbing and examining their options.
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.
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
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.
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
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 was to have a total of 32 floors and offer retail space, office space and 85 housing units. The original plans call for the top 12 floors to be condos. It was suppose to have a five floor underground garage with 315 parking spaces. The roofline was to be at 476 feet. The building will have two twin spires at the top and 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.
October 2013: Construction to Resume by the End of 2013
With the law firm Stoel Rives back on board as an anchor tenant, PCCP LLC, a California-based real estate finance firm, and the Ohio Public Employees Retirement System agreed to provide a construction loan.
Also key to securing financing was TMT’s plan to convert 15 floors to high-end apartments, and bring the tower’s total height to 30 stories. (Plans originally called for 33 stories, including condos, but the tower was downsized to 26 in response to the economic downturn.) The first two floors would be devoted to retail tenants.
The revised proposal still needs city approval, but TMT can start construction under its existing permit for the 26-story version of the tower, a city planner said this week.
Stoel Rives will take 131,000 square feet and nine of the 13 floors dedicated to office space, downsizing from its 11-floor lease it had agreed to in 2008. The firm, which today employs 138 attorneys in Portland, has downsized in head count and, like many firms hardened by the recession, learned to be more efficient with its space.
TMT is billing the tower as the most environmentally friendly building in Oregon. It’s pre-certified for LEED Platinum, the highest level offered in the U.S. Green Building Council’s rating system. It’s expected to reduce potable water usage by 40 percent from a typical building of its size, in part by harvesting rainwater into a 40,000-gallon tank, and cut energy costs by 32 percent.
Downtown Condos Currently for Sale Downtown Condos.
December 2012 — The Pearl District’s biggest landholder is laying the groundwork for two new high-rises on the district’s North fringe, where development stalled during the recession. Hoyt Street Properties, which controls eight undeveloped blocks in the area, is selling one for an apartment building that could stretch 18 stories high. It would be built through a partnership between a national developer based in Atlanta and two of Hoyt Street’s four partners.
At the same time, the firm is submitting plans for a condominium tower on one of its other blocks that, at up to 30 stories, could become the tallest building in the Pearl District. Both buildings would be on Northwest Overton Street, adjacent to The Fields neighborhood park currently under construction. The apartment project will go forward without Joe Weston, a partner at Hoyt Street who has provided the financial backing for its previous projects such as The Encore and The Metropolitan. Tiffany Sweitzer and Clay Fowler, two other Hoyt Street Partners, will instead partner with Wood Partners, one of the nation’s most prolific multifamily housing developers.
The project — still in planning stages — would cost about $80 million to build and include 250 market-rate units. In November 2013 invitations were sent out to potential buyers to view the floor plans, renderings, and finishes. Construction is slated to begin in late 2013.
Downtown Condos Currently for Sale Downtown Condos.
Maps of Downtown Portland