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.
Condos for Sale in Downtown Area
View all the for homes currently for sale in downtown Portland by visiting Downtown Condo for Sale. The homes displayed are from the three downtown area neighborhoods: Downtown, Old Town, and the Pearl District. You can expand your search by using the SpatialMatch search system.
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.
Pearl Tallest Tower: The Cosmopolitan
The Pearl District’s biggest landholder is laying the groundwork for three 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.
All three towers — the 28-story Cosmopolitan, the 16-story “Block 17″ project and the 26-story Overton Apartments — are all located within blocks of one another. Together, all three structures they will create more than one million square feet of real estate, 168 condo units, 565 apartments and 608 parking stalls. The project will cost about $80 million to build.
Development has turned in recent years to the northern edge of the Pearl District, the buildings have been more glassy, slim and contemporary. That slowed for a few years during the Great Recession, but today the real estate economy has returned, with numerous tall apartment and condo buildings planned.
Situated between Tanner Springs Park and the Fields Park, the quarter-block tower will rise 340 feet, making it not only the Pearl’s tallest building but one of the tallest in Portland, with only five buildings rising higher, all downtown: the Wells Fargo Center, US Bancorp Tower, KOIN Center, PacWest Center, Fox Tower and Standard Insurance Center. The Cosmopolitan will be 15 feet higher than the South Waterfront’s tallest building, the John Ross Tower.
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 Resumes
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.
The 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.
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.
Maps of Downtown Portland