Tag Archives: apartment

New Developments in the Pearl

If you take a walk around the north Pearl it seems every other block has a “Notice of Public Hearing” sign on a wall or fence. Pretty much all of these represent what’s likely to become a new apartment complex. With the Pearl having one of the lowest vacancy rates in the Portland metro area, it’s no surprise developers are jumping at the chance to build there.

Here’s a few buildings that you should be seeing in the near future. For more on new Portland developments, check out April’s Portland Monthly.

1. The Parker.

The Parker

 It’s being developed by Bob Ball of Astor Pacific. It’ll have 177 apartments at 6 stories, and 165 parking spots. More information HERE.

2. Block 17 

Developer Hoyt Street Properties and architect Boora, are putting up the 16 story, 281 unit complex on NW 11th and Overton. More information HERE.

3. The Abigail

Bridge Housing and Ankrom Moisan are behind this new addition to the Pearl. Ankrom Moisan also did The Ramona which will be across the street from The Abigail. It’ll have 142 mixed-income units that include affordable housing. It parks 81 cars and 258 bikes. More information HERE.

4. Riverscape

Developed by Fore Properties, Las Vegas, and designed by Robert Leeb. These will be built on Front St. along the river and  hold 243 units with 236 parking spots. More information HERE.

5. The Overton

This is a taller building, at 26 stories, developer Unico and architect ZGF plan to add 285 apartments to the Pearl. It’ll have 6 live/work units, and one small retail spot. More information HERE.

6. 1420 Pearl 

There’s a lot less information out there for this building, but if it works out it will be going up where Cash and Carry currently is at 1420 NW 14th. Mill Creek Residential will be putting 269 apartments in this 8 story building.

7. Block 15, or Hoyt Towers

This one has been getting a lot of attention. It’s a 28-30 story condominium being built by Hoyt Street Properties. It’s a thin, tall building holding 168 condos. This has been in the works for a couple of years now, and isn’t official yet. More information HERE.

Investing in Portland Apartments

“With a rental vacancy rate of 3 percent,” said Wendy Culverwell, in Portland Business Journal, ”Portland should be a landlord’s dream. But the City of Roses was dinged for its relatively low capitalization rate . . .”

In her article Culverwell sheds light on the Seattle-based All Property Management report, which shows even though Portland may have the second tightest apartment market, we’re still only in the middle for investing.

Read the article HERE