DOWNTOWN PORTLAND DEVELOPMENT …...nation’s top “up-and-coming” universities, including in...

DOWNTOWN PORTLAND DEVELOPMENT OPPORTUNITY0.12 ACRES • SW PORTLAND • 35 POTENTIAL APARTMENTS

Investment Real Estate www. hfore.com • (503) 241.5541

OFFERING MEMOR ANDUM

2809 SW Water Avenue& 30 SW Meade Street

SW WATER + MEADE STREET APARTMENT SITE0.12 ACRE PARCEL • DOWNTOWN PORTLANDThe Water Avenue offering is an exceptional opportunity to acquire a centrally located, high-density development site in downtown Portland – one of the strongest apartment markets in the nation.

Just minutes from the city’s Central Business District, Portland State University and the trendy Pearl District, the Water Avenue property is also adjacent to the National University of Natural Medicine and is ideally situated for young professionals and students. The property boasts Walkscore.com rankings of 69 points for walking, 86 points for transit and 80 points for biking. Other nearby walkable destinations include:

• The Portland Farmer’s Market at PSU

• Keller Auditorium

• The Portland Art Museum

• Providence Park (home of the Portland Timbers)

• The South Waterfront and OHSU’s Collaborative Life Sciences Building

The Water Avenue land is zoned for High- Density Residential use, which generally allows for a 4-to-1 floor area ratio and a 75-foot height limit. The sellers have preliminary plans for a 6-story, 35-unit apartment complex with ground-floor lobby, bike parking, and communal area. The zoning’s tall height limit paired with the property’s naturally elevated position above SW Kelley Avenue would provide future tenants unparalleled views of the downtown cityscape, the Willamette River and Mt. Hood.

PROPERTY HIGHLIGHTSPrice: $1,300,000 ($250 psf )

Site Size: 5,208 sf / 0.12 acres

Zoning: RH – High Density

Height Limit: 65’

Parcels: R128817 & R128816

FOR MORE INFORMATION Lee Fehrenbacher • [email protected] Frick • [email protected]

2424 SE 11th AvenuePortland, Oregon 97214

www.hfore.com(503) 241.5541 Fax: (503) 241.5548Please do not disturb tenants.

Architect’s Rendering

2 HFO INVESTMENT REAL ESTATE

SW WATER + MEADE STREET APARTMENT SITE0.06 ACRE PARCEL • DOWNTOWN PORTLAND

Lloyd District

Downtown Portland

Pearl District

Central Eastside

South Water Front

Mt. St. Helens

SW N

aito

Pkw

y

SW Kelly Ave

SW Water Ave

Pacifi

c Hwy W

5405

Development Site

SW WATER + MEADE STREET APARTMENT SITEAERIAL VIEW TO THE NORTH

30.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR

SW WATER + MEADE STREET APARTMENT SITEAERIAL VIEW TO THE NORTH FROM 6TH FLOOR

Downtown Portland

SW Naito Pkwy

SW Kelly Ave

Pacific Hwy W


SW WATER + MEADE STREET APARTMENT SITEAERIAL VIEW TO THE EAST FROM 6TH FLOOR

Mt Hood

Tillicum Crossing Ross Island Bridge

Roberson Life Sciences Building

SW Macadam Ave


Center for Health and Healing

South Waterfront

Willamette River

Portland Aerial Tram

Ross Island Bridge

SW Kelly Ave

SW Corbett AveSW Hooker St

5

Development Site

SW WATER + MEADE STREET APARTMENT SITEAERIAL VIEW TO THE SOUTHEAST


National University of Natural Medicine

SW Kelly Ave

Headquarters

Pacific Hwy W

Development Site

SW WATER + MEADE STREET APARTMENT SITEAERIAL VIEW TO THE WEST


POTENTIAL APARTMENT RENDERINGS

The sellers have created early plans for a 6-story, 35-unit apartment complex. Units range in size between approximately 350 and 450 square feet and would feature unparalleled views of Downtown Portland, the Willamette River and Mt. Hood. The ground floor includes lobby, mail room and bike parking areas. Additional plans available upon request.


DOWNTOWN - NORTH OF THE PROPERTY

Washington Park

Pioneer Courthouse

Square

Restoration HardwareWilliams-Sonoma

Papa Haydn

Portland Art Museum

Union Station

Bridgeport Brewing

Deschutes Brewing

Portland Saturday Market

Good Samaritan Hospital

Oregon Convention

Center

Portland State University

DOWNTOWN

GOOSE HOLLOW

OLD TOWN CHINA TOWN

WIL

LAM

ETTE

RIV

ER

W Burnside St Burnside Bridge

Steel Bridge

SW Madison St

SW Washington St

Hawthorne Bridge

Morrison Bridge

SW Clay St SW Jefferson St

SW Alder St

SW Market St

SW Pa

rk Av

e

SW Br

oadw

ay

NW Na

ito Pk

wyTo

m Mc

Call W

aterfr

ont P

ark

NW Glisan StSW

23rd

Ave

NE M

artin

Luth

er Ki

ng Jr

Blvd

NE G

rand

Ave

NW Everett St

99E

84

405 5

26

Lincoln High School


PORTLAND DOWNTOWN: MAJOR EMPLOYERS

Portland International Airport

Development Site


PORTLAND DOWNTOWN: LIFESTYLE AMENITIES

Rose Garden Washington Park

Keller AuditoriumPioneer Place

Portland Public Library

Columbia River GorgeLloyd Center Mt Hood

Development Site


PORTLAND MARKET SNAPSHOT

4.95% Metro-area vacancy

3.84% Year-over-year rent growth*

48.2% Portland residents age 25+ years (with a bachelor’s degree or higher)

38.3% Metro area renter-

occupied housing rate

$68,125 Median household income

3.8% Unemployment rate

(June 2019)

21,345 New Portland residents

(2016-2018)

4,474 Portland residents

per square mile

*Multifamily NW Apartment Report (April 2018-2019)


20142012 20162013 20182017

UNEMPLOYMENT RATEANNUAL: PORTLAND/VANCOUVER METRO AND U.S. (December 2012 - December 2018)

2015

4.0%4.7%

5.6%

Portland U.S.

12%

10%

6%5%

2%

8%

4%

0%

Source: Multifamily NW Apartment Report

Perc

enta

ge6.3%

7.6%

4.6%

3.6% 3.8%

5.6%

3.9%4.1%

5.0%

6.7%

7.9%

PORTLAND/VANCOUVER MSA MARKETEMPLOYMENT

Attracted by Portland’s educated workforce and relatively low cost of doing business, high-tech companies continue to relocate or open major branches. Companies with major operations include: Amazon, Airbnb, Google, Squarespace, Mozilla, Simple (HQ), SurveyMonkey, SalesForce, CD Baby (HQ), eBay, and New Relic, Inc.

Portland’s homegrown tech companies include:

• Act-On• AWS Elemental• Brandlive• Consumer Cellular• Electro-Scientific Industries• Expensify• FLIR Systems• Form Factor• Jama Software• Janrain• Laika Entertainment• Lattice Semiconductor• Pop*Art• Puppet Labs• Rentrak• Simple• Tektronix• Thetus• Tripwire• Urban Airship• Vacasa• Viewpoint

In June, 2019, the Portland unemployment rate was 3.8% the same as one year earlier.

The metro area’s healthcare sector continues to expand, most notably on Portland’s South Waterfront with significant additional clusters of specialty research and treatments in numerous new OHSU office towers.


The nationally-prominent Oregon Health and Science University (OHSU) is Oregon’s only public academic health center. As such, it leads the way in government-funded healthcare—and secures numerous grants for the advancement of health sciences. OHSU was founded in 1887, and currently has 2,796 faculty supporting 4,070 students and trainees. OHSU also offers joint programs with Portland State University, Oregon State University, and the Oregon Institute of Technology. OHSU has a $4.3 billion impact on Oregon’s economy, and supports nearly 34,000 jobs. Its annual operating budget is $2.8 billion.

OHSU is nationally ranked by US News and World Report for 7 specialties and 7 children’s specialties.

OHSU educates health professionals and scientists, and provides cutting-edge patient care, community service and biomedical research. Its hospitals and clinics serve over a quarter of a million patients yearly with innovative care and treatment models based on the most up-to-date knowledge available.

OHSU’s four missions are healing, teaching, discovery and community outreach/public service. Its university prepares students for biomedical and science education through its Office of Science Education Opportunities, which collaborates with other OHSU departments and community partners. Over 17,000 practicing healthcare professionals across the state of

HEALTHCAREOREGON HEALTH AND SCIENCE UNIVERSITY

Oregon engage in lifelong learning in OHSU’s continuing education programs, which occur yearly and focus on dentistry, medicine, nursing and child development.

Among OHSU’s specialties are pediatric care, based at the renowned Doernbecher Children’s Hospital. This hospital focuses on bone and joint care, cardiology, cancer and blood diseases, surgery and neurology—services that can be difficult to find in the pediatric field. OHSU serves a large number of low-income children and families in the metro area—often free of charge.

In July of 2014, OHSU opened the Collaborative Life Sciences Building (CLSB) and Skourtes Tower in the South Waterfront. Skourtes Tower is the new home for the OHSU School of Dentistry, while the CLSB is an integrated space meant for students and faculty from OHSU, PSU, and Oregon State University. OHSU has spent millions of dollars over several years building up its South Waterfront campus to include the Knight Cancer Institute and additional facilities offering support to patients’ families.


Founded in 1946, PSU is an urban research university in the heart of downtown Portland. Its 50-acre campus contains 50+ buildings and serves over 27,000 undergraduate and graduate students. The school’s most popular majors include Psychology, Health Studies, Biology, Art & Design, and Accounting. PSU has eight schools with a total of 226 programs.

Since 2014, PSU is Oregon’s only university to offer a Four-Year Degree Guarantee, which promises full-time freshmen the support and courses they need to graduate in four years—or they won’t be charged additional tuition.

U.S. News & World Report has consistently named Portland State University one of the nation’s top “up-and-coming” universities, including in its 2015 Best Colleges rankings. In 2017 PSU is ranked in ninth place in a list that recognizes “the most promising and innovative changes in the areas of academics, faculty, student life, campus, or facilities.” PSU also has top-ranked programs in the areas of urban planning and public affairs, speech language pathology, education and engineering, among others.

From 2002 to 2012, the university’s student body grew 47 percent to 29,703 people. That growth has created a significant need for housing downtown, even as the city is trying to address a regional housing crunch. As of the 2016-2017 school year, only 10% of students at PSU live in on-campus housing.

HIGHER EDUCATION RIGHT NEXT DOORIn 2014 PSU celebrated the opening of the 650,000-square-foot Collaborative Life Sciences building on the South Waterfront. A joint effort between PSU, Oregon Health and Science University and Oregon State University, the $295 million facility is located just one mile south of campus and is expected to bring approximately 3,400 students, faculty and medical professionals to the area every day.

In March 2017, Portland State, Portland Community College, and OHSU announced that they are working with the city to build a $100 million, 200,000 square foot building on the corner of SW 4th Avenue and Montgomery Street. The new building will be home to PSU’s Graduate School of Education, PCC’s dental programs, the OHSU-PSU School of Public Health, and a Portland city bureau. The plan for the site also includes restaurants, low-cost mental health services, and a community dental clinic. It is scheduled to open in September 2020.

PORTLAND STATE UNIVERSITY

Development Site


A variety of employment opportunities are found throughout close-in Portland. Major institutions include hospitals (OHSU, Legacy Hospital, the Portland VA Medical Center and Providence); government employers including federal, state, city and county; Portland Public Schools, Portland State University, and major banks, grocery store chains, retailers and hotels. Close-in Portland is packed with technology companies and start-ups. Many large and small employers like Vestas, Microsoft, and others have established offices in brand-new, or recently redeveloped, buildings in the Pearl.

CLOSE-IN PORTLAND SUBMARKETSince the 1990s, companies that have moved their world, North American or U.S. headquarters to Portland include Adidas, Daimler Trucks, KinderCare and Keen. Other close-in Portland-based companies are Umpqua Holdings, Weiden+Kennedy, NW Natural, PacifiCorp, PGE, New Seasons, Storables, McMenamins, McCormick & Schmick’s, Franz Bakery, Portland Brewing, Stumptown Coffee, Banfield Pet Hospital, Powell’s Books, ZGF Architects and the major west coast law firms Stoel Rives and Schwabe, Williamson & Wyatt.

DEMAND GENERATORS Portland is consistently ranked as one of the world’s greenest cities. In 2016 Travel+Leisure magazine ranked Portland as the #1 most pedestrian and transit-friendly city and the 14th friendliest city in the United States. With reviews like that, it’s easy to understand why the area’s population continues to increase. Companies continue to relocate to Portland, and area employment is on the rise.

NET JOB GROWTH BY INDUSTRYDECEMBER 2018: YEAR-OVER-YEAR

CONSTRUCTION

FINANCIAL ACTIVITIES

MANUFACTURING

INFORMATION

TRANSPORTATION & WAREHOUSING

Job Growth (#) Job Lose (#)Source: Qualityinfo.org

PROFESSIONAL & BUSINESS SERVICES

HEALTH CARE & SOCIAL ASSISTANCE

LEISURE & HOSPITALITY

5,300 7.5%

1,000 1.4%

4,900 3.9%

800 3.2%

-300 -0.7%

-2,700 -1.5%

11,400 8.0%

3,200 2.6%


CLOSE-IN PORTLAND SUBMARKETPUBLIC TRANSPORTATIONAll of downtown and close-in Portland is accessible by public transit that includes an extensive (and expanding) light rail system and streetcar and a national award-winning public bus system. Portland is ranked among the most bicycle-friendly cities in the world, with approximately 8% of commuters biking to work—the highest proportion of any major U.S. city. Currently, TriMet is working on a plan to add a new MAX light rail line that would connect Downtown Portland to Tigard in Washington County.

RECENT AREA CONSTRUCTION & ACTIVITYPlanning for additional construction in the South Waterfront area continues. The $160 million Oregon Collaborative Life Sciences Building wrapped up construction in 2014. Over 30 additional acres are in various stages of development along the South Waterfront. In September, 2015, the area began service on a $135 million transit, bicycle, and pedestrian bridge across the Willamette River known as the Tillikum Crossing.

Many areas of close-in Portland continue to experience growth, rejuvenation and renewal. New apartments are under construction all over the City of Portland. Despite the uptick in building, a shortage of apartments, along with population and economic growth, are expected to keep apartments in high demand.

POPULATION GROWTH BY COUNTY2010 to 2017

Portland’s close-in neighborhoods and regions include Alberta Arts District, Belmont, the Central Eastside, Division/Clinton, Downtown, Hawthorne, Lloyd District, Mississippi/Williams, NW Portland/Nob Hill, Old Town Chinatown, the Pearl District, South Waterfront and Sellwood-Moreland.

Portland

Multnomah County

Washington County

Clackamas County

Deschutes County

Marion County

Lane County

Jackson County

Clark County, WA

600,000 900,000500,000 800,000400,000 700,000300,000200,0000 100,000

647,805

807,555

588,957

412,672

186,875

341,286

374,748

217,479

474,643

583,799 64,006

72,386

59,093

36,678

29,142

25,943

23,035

14,273

49,283

735,169

529,864

375,994

157,733

315,343

351,713

203,206

425,360

20172010Change


APARTMENT MARKETThe Portland Metro Area consistently ranks among the nation’s lowest for apartment vacancy rates according to the U.S. Census Bureau and other third-party services like REIS, MPF Research, and Axiometrics. The U.S. Census Bureau pegged Portland’s Q3 2018 vacancy rate at 4.5% and the U.S. average at 7.1%.

REIS forecast 2018 Portland metro year-over-year rents growth at 3.0% and the Multifamily NW Apartment Report survey proved average October 2017-18 year-over-year rent growth at 3.3%.

SKILLED WORKFORCE & STRONG EMPLOYMENTIn a 2018 WalletHub report comparing 150 of the largest U.S. metros, Portland is listed as the 15th most educated city in America. More than half of Multnomah County workers have a college degree, well ahead of the national average of 38.5%.

According to the State of Oregon’s Employment Department, Portland enjoys one of the fastest job growth rates in the Pacific Northwest, and the entire nation. Data indicates the area added 31,000 jobs in 2016, 28,000 jobs in 2017, and 29,000 in 2018.

TOP 10 LISTS

Portland consistently receives glowing reviews and rankings from the media.

2018 lists include: • #1 Restaurant City of the Year (Bon Appetit)

• #1 Best Foodie City in America (Wallethub & Travelpulse) #6 (Jetsetter)

• #3 Healthiest City in the U.S. (Active.com)

• #4 Best City for Biking (Fast Company)

• #5 Best Bike City in America (Bicycling Magazine)

• #5 Fittest Cities in America (American College of Sports Medicine)

• #6 Best Place to Live in the U.S. (CNBC/U.S. News)

• #9 Top City for Entrepreneurs and Start-Ups (Business.org) #23 (CNBC)

• #10 Greenest City in America (Newsweek)

• #10 Most Entrepreneurial State (Amazon.com)

• #15 Most Educated City in America (Wallethub)

• #19 Best Large City in America, 59th best city in the World (Best Cities.org)

DIVERSIFIED ECONOMYPortland is home to the headquarters of Fortune 500 companies Nike and Lithia Motors. Fortune 1000 companies headquartered here include Columbia Sportswear, Greenbrier Cos. and Portland General Electric. Fortune 500 companies based outside Oregon with major operations here are Precision Castparts and Intel.

Tech and software companies continue to relocate their operations here or open major outposts in Portland. These companies enjoy Portland’s educated workforce, affordable high quality of life, and a low cost of doing business compared to the Bay Area.

Companies which have opened major branches in Portland include Airbnb, Google, Squarespace, Mozilla, Simple, Survey Monkey, SalesForce and New Relic, Inc. Portland’s tech startup companies include Viewpoint, Jama Software, Thetus, Urban Airship, Acquia, Elemental Technologies, Act-On, Puppet Labs, and The Clymb.

PORTLAND REGIONOregon’s largest city, Portland, is near the confluence of the Willamette and Columbia Rivers. The Portland Metro Area consists of four counties: Multnomah, Washington, Clackamas, and Clark County, Washington.

PORTLAND METRO SNAPSHOT


GOVERNMENTThe U.S. Federal Government is Portland metro’s overall largest employer, with 20,500 workers. The State of Oregon gives employment to an additional 14,000 residents.

HIGH TECH & CHIP MANUFACTURINGAttracted by the Portland area’s educated workforce and relative low cost of doing business, tech companies continue moving to Portland—opening major branches and, in some cases, relocating to the area entirely.

With over 19,300 employees, Intel is the area’s largest private employer. Intel acquired its first Portland location in 1974. The company is currently expanding its presence with forthcoming D1X microprocessor chip facilities at the Ronler Acres Campus in Hillsboro. This is part of a five-year, $6 billion expansion, and is part of the company’s long-term plans for growth. Intel is the largest property taxpayer in Washington County, with payments of approximately $30 million a year.

Other notable Portland-area high-tech companies include ON Semiconductor and Tektronix.

SPORTSWEARNike has its world headquarters in Beaverton and employs 12,000 Portland-area residents. The company designs, develops and manufactures footwear, apparel, equipment and accessories. From here, Nike orchestrates production and design for one of the world’s most recognizable brands. In 2019 Nike will complete a $1 billion expansion of its Washington County campus.

Nike’s two key competitors have a major local presence as well. Those employers include the North American headquarters of Adidas with 1,200 employees, and a new 70,000 SF outpost of Under Armour. Under Armour has moved 100 employees into an iconic former YMCA.

HEALTHCARE AND RESEARCHHealth services are another major employment sector for the Portland area. The top healthcare employers in the area are Providence Health Systems, with 17,543 employees, and The Oregon Health Sciences University (OHSU), with 16,200 workers. OHSU is the recent recipient of a total of $1 billion in donations for cancer research from over 10,000 Oregon donors. Grants from the National Institutes of Health totaled $182.7 million in 2016.

MANUFACTURINGIn trucking and transportation, Daimler Trucks—with nearly 3,000 area workers—has big plans for the Portland area. The company recently spent $150 million renovating its Portland facility and invests heavily in research and development, including autonomous driving.

PORTLAND MARKET SNAPSHOTMAJOR EMPLOYERS


TOP AREA EMPLOYERS

20,000 area employees 12,400 area employees 12,000 area employees

11,250 area employees



Intel is the area’s largest private employer. Recently, following a five year, $6 billion expansion, the company unveiled vast, long-term plans for future growth.

Kaiser has 35 medical facilities, 18 dental offices and 1,400 doctors in the Pacific Northwest. It employs more than 10,000 in the Portland metro region and serves 11.8 million members nationally. Kaiser is headquartered in Oakland, California.

In 2019 Nike wraps up a $1 billion expansion of its Beaverton world headquarters. The company added 1.3 million square feet of office space and parking for 3,300 vehicles.

Legacy is a locally-owned nonprofit based in Portland, Oregon. It is the only health system covering the Portland/Vancouver area south to Salem with multiple hospitals and a hospital dedicated to exclusively serving children.

With nearly 50,000 students, Portland Public Schools is Oregon’s largest district. Portland is currently in the midst of a massive voter-approved high school and middle school reconstruction and modernization program.

In 2017 voters approved $790 million in taxes to rebuild one middle school and three high schools.

Fred Meyer offers one-stop shopping at 133 department stores in four western states.

18,286 area employeesProvidence is a non-profit network of hospitals, health plans, physicians, clinics and related services. It operates in Alaska, Washington, Oregon, Montana and California. It was originally founded by the Sisters of Providence in Montreal Quebec in 1843.


Oregon Health Sciences University (OHSU) leads the way in government-funded healthcare — and secures numerous grants for the advancement of health sciences. OHSU recently acquired a $1 billion gift for cancer research.

Grants from the National Institutes of Health have held steady from around $184 million in 2011 to $219 million in 2017.


Among the influx of companies to the Portland metropolitan area—including many who have transplanted their world, North American or U.S. headquarters here—are Adidas, Daimler Trucks, KinderCare and Keen.

Other significant companies in the close-in Portland metro area include Umpqua Holdings, Weiden+Kennedy, NW Natural, PacifiCorp, PGE, New Seasons, Storables, McMenamins, McCormick & Schmick’s, Franz Bakery, Portland Brewing, Powell’s Books, ZGF Architects, and two major West Coast law firms: Stoel Rives and Schwabe, Williamson & Wyatt.

Full time employment increased 1.8% between March 2018 – March2019, an increase of 21,800 positions. Below is an overview of net job creation by industry from March 2018 through March 2019:

According to the State of Oregon Employment Department, the Portland Metro region created jobs at the rate of 1.6% in 2018. Portland ranks 16th among the 50 largest metropolitan areas in the United States.

JOB GROWTH BY INDUSTRYMSA PORTLAND

2,800 Construction, Mining, Logging

3,200Trade, Transportation & Utilities

Leisure & Hospitality

4,500 Manufacturing

2,000

2,500

Healthcare & Social Assistance

6,100Education & Health Services


I-5 runs the length of the entire West Coast between the U.S. borders with Canada and Mexico.

I-84 runs east and west, with its western terminus at I-5. From there it heads east through the suburbs of Gresham and Troutdale, and to the scenic Columbia River Gorge on its way to its eastern terminus east of Salt Lake City, Utah.

I-205 is a 37-mile bypass running north-south skirting downtown Portland to the east. It begins in Vancouver, Washington, and ends south of Portland in Tualatin, Oregon. This helps commuters avoid traveling through downtown Portland.

I-405 is an additional 4.25-mile highway connector on the west side of downtown Portland.

Hwy. 26 runs east and west, with its western terminus on the Oregon Coast. Hwy. 26 is an expressway and is part of the Mount Hood Scenic Byway. Its eastern terminus is Ogallala, Nebraska.

COLUMBIA RIVER

VANCOUVER

GRESHAM

WASHINGTON

OREGON

OREGON CITY

LAKE OSWEGO

PORTLAND DOWNTOWN

Portland International Airport

9 miles (20 min.)

10.9 miles (18 min.)


BEAVERTON

TIGARD

7.9 miles (20 min.) 17.3 miles (30 min.)


10.6 miles (2 min.)

84

205

405

5

26

26

224

213

210

8

99E

217

30B

84

205

405

5

26

INTERSTATE HIGHWAY SYSTEMPortland has three interstate highways running through it: I-5, I-84 and I-205. These freeways help mitigate the amount of congestion on city streets.

TRANSPORTATION SYSTEMS

Development Site


PUBLIC TRANSITThe Portland/Vancouver metro area including Clackamas county and the City of Happy Valley, is well served by an outstanding public transit system. In 2015, TriMet, the area’s public transit agency, made a number of upgrades to the area’s transit options. These upgrades addressed the concerns of residents and workers who depend on bus and light-rail train service to get to and from jobs, schools and other daily events.

SW Park + Columbia street Apartment site is within 2 blocks of both MAX light rail and the Portland Streetcar lines.

The MAX Blue Line was the first of the light rail’s five separate projects to be built, and was the first federally funded light rail project that used money initially earmarked to build freeways. The initial 15 miles of the Blue Line opened in 1986, with 30 rail stops that connect downtown Portland with the City of Gresham.

The Green Line was completed 2009 connecting Clackamas, along Interstate 205, to the Gateway Transit Center. The 8.3 miles of track provides transportation between 8 additional stations before connecting to the previously built I-84 track.

• The Blue Line continues through downtown Portland to the cities of Beaverton and Hillsboro

• The Red Line terminates at the Portland International Airport

• The Green Line connects to Clackamas Town Center

• The Orange Line is the MAX’s newest extension and connects to the City of Milwaukie

WIL LAM

ETTE R I V ER

CLACKAMAS

WILLAM

ETTE RIVER

GRESHAM

BEAVERTONHILLSBORO

MAX Blue Line

MAX Green Line

MAX Orange Line

MAX Red line

MAX Yellow Line

Portland Streetcar A Loop

Portland Streetcar B Loop

Portland Streetcar North South Line

TRANSPORTATION SYSTEMS

DOWNTOWN PORTLAND

Development Site


Lloyd District

Downtown Portland

Pearl District

South Water Front

Mt. St. Helens

SW N

aito P

kwy

SW Kelly Ave

Pacifi

c Hwy W

Development Site


TOURS AND INQUIRIES Please do not disturb tenants.

All tours and inquiries regarding The SW Portland Development Site are to be directed to HFO Investment Real Estate at (503) 241.5541.

Lee Fehrenbacher • [email protected]

Greg Frick • [email protected]

Jack Stephens • [email protected]

Todd Tully • [email protected]

Adam Smith • [email protected]

Rand Hoffman • [email protected]

Khari Gates • [email protected]

Brokers licensed in Oregon and Washington.

PRICINGPrice: $1,300,000 ($250 psf )

Site Size: 5,208 sf / 0.12 acres

Zoning: RH – High Density

Height Limit: 65’

Parcels: R128817 & R128816

DOWNTOWN DEVELOPMENT OPPORTUNITY0.12 ACRES • PORTLAND, OREGON


HFO Investment Real Estate

2424 SE 11th Avenue • Portland, OR 97214www.hfore.com • 503.241.5541

Passion • Collaboration • Specialization

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Parties who receive this information from unauthorized parties shall not be recognized. ©2019 HFO Investment Real Estate LLC. Build your legacy is a service mark of HFO Investment Real Estate. Licensed in the states of Oregon and Washington.

DOWNTOWN PORTLAND DEVELOPMENT …...nation’s top “up-and-coming” universities, including in...

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