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MarkDaMan
Mar 20, 2007, 6:25 PM
http://www.pdc.us/images/ura/spb-images/10th-and-yamhill/10th-and-yamhill-garage1.jpg

okay, so there isn't information yet on the proposals, but there will be this week. Dougall has said he will try and snap pictures of the presentations, and I'm sure a few other forumers here will go and give us a recap...In case you've forgotten here is the information so far on the pdc's website.

10th & Yamhill Garage Redevelopment
Project Overview

The City's Office of Management and Finance (OMF) issued a Request for Proposals (RFP) on November 17, 2006 to four development teams for redevelopment of the 10th & Yamhill Garage. The four teams, selected from a previous Request for Qualifications (RFQ), which closed in June 2006, are Carroll Investments, Gerding Edlen Development, Parr Financial Oregon and Weston Investments Co.

The 10th & Yamhill Garage redevelopment is a partnership between the OMF and the Portland Development Commission (PDC). Joint project goals are:

* Improve street-level retail facades and corners
* Strengthen existing and promote new retailers for a more vibrant street level activity
* Introduce new residential development to enhance diverse street level activity
* Provide parking support to downtown businesses and retailers
* Establish a better link between the downtown retail and office activity to the West End of Downtown and Pearl District
* Maximize new taxes generated and leverage private financial resources
* Preserve City Smart Park revenue, minimize revenue loss during construction, and secure new revenue from the purchase or lease of developable air rights

Background

The 10th & Yamhill Garage is owned by OMF and is located at SW 9th and 10th Avenues and SW Yamhill and Morrison Streets within the South Park Blocks Urban Renewal Area. The 10th & Yamhill Garage is adjacent to the Midtown Blocks, also called the Park Avenue District.

In December 2004, BOORA Architects completed a study detailing conceptual design improvements. That study outlined the feasibility of proposed capital improvements to remodel the garage and "re-tenant" the ground floor retail spaces.

In July 2005, PDC convened a Stakeholder Advisory Committee to help develop and select a preferred redesign alternative for garage improvements. The following design elements were identified:

* "Fill in" the arcade on Morrison Street with expanded retail space, making the retail storefronts more visible
* Relocate the MAX stations (at an estimated cost of $1 million)
* Provide new stairs and elevators

Following work with the Stakeholder Advisory Committee, staff took a preliminary design with these elements to the Design Commission for a preliminary Design Advice Request on August 4, 2005. Comments from the Commissioners focused on:

* Maintaining MAX stations in place to retain connectivity of their current proximity to streetcar
* Enhancing rather than "filling in" the arcades and improving streetscapes.
* Focusing remodel efforts on lower, retail level of the garage
* Relocating vertical circulation components to allow for more corner visibility and retail entries

With this feedback, in November 2005, BOORA Architects completed a revised preferred design for remodeling and re-tenanting the garage including the Design Commission’s recommended elements.

In late 2005, OMF was approached with the idea of greater redevelopment of the site, including building a tower above the existing garage. On May 12, 2006, OMF with PDC input issued an RFQ requesting qualified development proposals for improvements to the existing garage and retail with new development above or the removal of the existing garage with public parking preserved in any new development. The RFQ closed June 19, 2006; the four proposals received included redevelopment as well as removal and new development scenarios. An appointed citizen Evaluation Committee recommended all four proposers be passed on to the current RFP phase.
OMF and PDC staff have revised the original September 2005 public participation plan for the project and, as part of the RFP process, will hold an open house in early 2007 for the public to provide feedback on the submitted proposals. Feedback from the public will be forwarded to the Evaluation Committee who will consider this input in its final recommendation to the OMF Chief Administrative Officer and PDC Executive Director regarding the developer selection.

Project Schedule

Announcement of Solicitation
Nov 17, 2006

Notice of Intent to Submit letter due
Nov 22, 2006, 4 PM

Written Proposals due
Mar 1 , 2007, 4 PM

Notice of Responsive Proposals
Mar 15 , 2007

Evaluation of Responsive Proposals
Mar 15 - Apr 12, 2007

Public Presentation and Comment Opportunity
Mar 26-30, 2007

Evaluation Committee Final Recommendation
Apr 12, 2007

PDC Board Action on PDC Executive Director and CAO Recommendation
Apr 25, 2007

Action on CAO Developer Selection Recommendation by City Council
May 2, 2007

http://www.pdc.us/ura/south-park-blocks/10th-and-yamhill.asp

ATR
Mar 20, 2007, 8:45 PM
Thursday's open house has been canceled...according to a Fred Leeson story in today's O, both proposals submitted called for the developers to take ownership of the block -- and the city wants to continue to own/manage the SmartPark.

I can't find the story on oregonlive.com, but here's the key points:

Only two of the four developers selected in 2006 submitted proposals by the March 1 deadline. Both those proposals called for developer ownership of the block and garage (one would have added stories above the existing garage, the other would have remodeled the garage/retail without adding stories).

The city will meet privately with developers to see if they can come up with something that lets the city still own the garage, but the official that canceled the meeting (David Logsdon, parking facilities manager) said he didn't know if the meetings would end in a proposal...

pdxman
Mar 20, 2007, 8:50 PM
Thanks city of portland! The city amazes me--they do such a good job at screwing things up...

brandonpdx
Mar 20, 2007, 9:04 PM
^This surprises me. I was under the impression that the garage was going away and they were gonna build sub grade parking with a building on top...not sure where I got that.
-only 1 proposal would have built additional stories!? GE and Carroll turned in proposals. It surprises me that 1 of them (I think it was GE) was just going to remodel the garage.
-However, the fact that the city wants to retain ownership of the garage doesn't surprise me. A lot of workers and shoppers depend on that garage for cheaper parking.

pdxskyline
Mar 20, 2007, 9:05 PM
I'm sort of unclear on this project, as I have seen a lot of official info about it, but can't seem to figure out exactly what they want to do. Thanks City of Portland for keeping outdated material around!

So are they really going to develop a skyscraper on this lot or just put lipstick on a pig and remodel the existing building?

Why the heck does the city HAVE to own the garage? why can't it subsidize it or something else? The city that works... pffff...

zilfondel
Mar 20, 2007, 9:17 PM
^This surprises me. I was under the impression that the garage was going away and they were gonna build sub grade parking with a building on top...not sure where I got that.

No, I read that too - but unfortunately it was merely a rumor, and was never substantiated. I'm assuming it was generated from some very preliminary ideas/proposal, not an actual business plan...

I'm sort of unclear on this project, as I have seen a lot of official info about it, but can't seem to figure out exactly what they want to do. Thanks City of Portland for keeping outdated material around!

So are they really going to develop a skyscraper on this lot or just put lipstick on a pig and remodel the existing building?

Lipstick on a pig, lipstick on a pig: Portland just wants to make the MAX stop pretty & kick the bums out - ie, the people who might smoke a cigarette or look 'disheveled' while waiting for a train: the primary design feature they want is the removal of any rain cover at the stations.

:hell: :hell: :hell: :hell: :hell: :hell: :hell:

It's a bunch of BS; we need a nice shiny new building for this stop instead. What was that post the other day from Beam? Dilute, not delete? City's a bunch of maroons. :cool:

NJD
Mar 20, 2007, 10:10 PM
hey, what if the fact that the MOYER TOWER is going in right in front of this parcel making those Mt. Hood views and downtown presence obsolete might have something to do with 2 firms not even finishing their proposals and the others scaling back theirs? hmmmm, maybe?

the city made it pretty clear that they would retain ownership of the land in the request. the city is not to blame here.

ATR
Mar 20, 2007, 10:13 PM
Press release from the PDC:


10th AND YAMHILL SMARTPARK GARAGE PUBLIC OPEN HOUSE CANCELLED
City Cancels Recent RFP for Garage Redevelopment

(Portland, OR) The City of Portland and the Portland Development Commission have cancelled the public open house on the redevelopment of the 10th and Yamhill SmartPark garage that was scheduled for Thursday, March 22, 5:30-8:30 PM in City Hall Council Chambers.

The City has cancelled the Request for Proposals for the 10th and Yamhill SmartPark Garage Redevelopment (RFP No. BGS023). Both proposals submitted in response to this RFP included purchase of the 10th and Yamhill property. The RFP was specific in its criteria that the SmartPark garage was to remain under City management and ownership.

The City intended originally to improve the property and remodel the ground floor retail space, and continues to remain interested in this as well as exploring the potential of a new development above the garage.

The City will offer to debrief with all of the proposers who were qualified in the initial phase of this process, exploring the potential for an alternate project where the City retains ownership of the garage.

Dougall5505
Mar 20, 2007, 11:42 PM
well darn

tworivers
Mar 21, 2007, 12:25 AM
The City intended originally to improve the property and remodel the ground floor retail space, and continues to remain interested in this as well as exploring the potential of a new development above the garage.

Umm, so what was that I heard about first building underground parking (to replace the 10th/Yamhill) on another nearby lot + a new tower, then tearing down this garage and putting its city-owned parking underneath another new tower?

I wonder if the numbers were awful --the hotel market is healthily saturated, the condo market is softening, Moyer is putting office accross the street, apartments are going up everywhere (ZGF, possibly the Oak, etc)... I'm curious. We need an inside source at GE willing to spill the beans. You'd think they'd jump at the chance to go tall and bold right there.

65MAX
Mar 21, 2007, 2:16 AM
It seems like they may have been putting the cart before the horse. They need to replace the parking first, presumably at the lot north of the Galleria, underneath a tower at THAT site.

THEN, they would come back and tear down the old garage and redevelop the 10th and Yamhill site. In the interim, they could just spruce up the lightrail stops until it's time to demo the garage. Doesn't that sound more logical?

tworivers
Mar 21, 2007, 2:48 AM
Sure does seem more logical. Why they would settle for a rehab of a garage that sits between MAX lines and is an eyesore is beyond me. I assume it must be pure depressing economics.

Too bad TMT didn't jump on it. Too busy already?

And Weston didn't follow through? Both those blocks seem ripe, to my naked eye, for podium/point tower developments.

I think the PDC should decide on a bold vision, and then, if necessary, hold off on it until it pencils out, rather than working with the existing garage.

pdx2m2
Mar 21, 2007, 3:02 AM
Earlier Weston and Gerding and others proposed ideas of taking the garage down and building a tall tower with mixed use...now that the official proposals are in...we get the pig in a new dress.

I don't think the City will let go of ownership and doubt that any really large bold project will make sense with a 99 year lease...

This could go back to PDC for a short term fix or they could decide to sit on the project until there is a stronger market and/or a bolder vision. I wouldn't count on seeing a tower here for some years.

65MAX
Mar 21, 2007, 5:12 AM
You're probably right. I really think the parking lot north of the Galleria will be developed first.

pdxman
Mar 21, 2007, 6:08 AM
What a bummer day, i was really hoping for good news on this proposal. I guess we all just mislead each other...oh well

MarkDaMan
Mar 21, 2007, 3:21 PM
there was, and still is, more going on than just the rehab, but this is a bummer...I see 65MAX's scenario in post 11 still as a possibility with GE. Can some bloggers here find out who owns the block next to the galleria?

anyway, here is the initial story...

Demolition Derby
Why a moneymaking garage for the city may get destroyed, and a nearby private garage may benefit.
BY NIGEL JAQUISS | njaquiss at wweek dot com

[July 19th, 2006] If Portland's hottest developer and its biggest parking company get their wish, the city-owned Smart Park at Southwest 10th Avenue and Yamhill Street will soon be a pile of rubble.

That proposal to eliminate an above-ground public garage also appears to benefit another developer, Tom Moyer, who has just broken ground on a private underground garage on a kitty-corner lot.

The prospect of replacing 797 low-priced publicly owned spaces at 10th and Yamhill with Moyer's 650 privately owned spaces concerns Rick Williams, a local parking consultant who once managed the city's garages.

Williams says low-cost parking spaces are key to keeping downtown viable. "The publicly owned supply of short-term parking distinguishes Portland from almost every other city in the country," Williams says.

Demolition of the 10th and Yamhill garage, the second busiest of seven city-owned garages, became an option only in the past month.

Nobody would dispute the building is a dump—records show crews were called to clean up human waste in the building 183 times in May. And a storefront at the corner of 10th and Yamhill has been vacant for more than three years. Yet the garage is debt-free and produces a "significant operating surplus," says city spokeswoman Mary Volm.

In response to concerns that the garage is blighting the West End, the Portland Development Commission last year developed preliminary plans for new elevators, redesigned street-level retail and upgraded MAX stops. (PDC earmarked $7.5 million in urban-renewal funds for fixing up the garage; the city set aside another $3.5 million for new elevators and pay stations.) When developer Joe Weston proposed building housing atop the seven-story structure, the city decided to seek other proposals.

The Bureau of General Services, which oversees the city garages, issued a request for qualifications on May 12, asking developers for proposals "with renovated ground floor retail and new development (preferably housing) above the existing garage." Two weeks later, the bureau amended its request to include "project experiences which include the removal of an existing building and constructing new development for parking, retail spaces and housing."


Among the four groups competing for the right to redevelop 10th and Yamhill is a powerhouse team of Gerding/Edlen Development and City Center Parking. Gerding/Edlen has developed much of South Waterfront and is erecting the Civic condos next to PGE Park. City Center owns or operates a majority of downtown parking. Until 2003, City Center also operated the city's Smart Park garages, including 10th and Yamhill.

The two firms worked together on the parking garage under the Brewery Blocks in the Pearl District, which City Center operates for Gerding/Edlen. They also are pursuing another joint venture at Southwest 12th Avenue and Washington Street on City Center property.

Moyer's new lot at Southwest 9th Avenue and Taylor Street, along with City Center's many other downtown lots, would arguably benefit from the demolition of 10th and Yamhill, which offers far cheaper short-term parking than private lots.

Mary Volm, a city spokeswoman, says the city's potential interest in demolishing its garage is unrelated to the new Moyer lot. "There were some ideas floating in the development community about what could be done," Volm says. "When you're investing millions, you want to make sure you're doing what the community wants."

City Center Parking president Greg Goodman referred questions about the 10th and Yamhill proposal to Mark Edlen. The developer says his group wants to build a 460-foot condo tower where the garage now stands and replace the existing structure with a combination of two new underground garages. Edlen says the tentative plan is that public parking space in both garages would either be publicly owned or publicly operated.

First to be developed would be a new mixed-use high-rise with underground parking on what's now a surface parking lot just north of the Galleria at Southwest 10th and Washington. When that lot was in operation, Edlen would demolish 10th and Yamhill and build a new underground garage there.

"We think 10th and Yamhill is a real linchpin to developing the West End," Edlen says.
http://www.wweek.com/editorial/3237/7780

Drmyeyes
Mar 21, 2007, 5:37 PM
Answer to the question, 'Is it really economically prudent for the city of Portland to make more public restrooms available?'

"....—records show crews were called to clean up human waste in the building 183 times in May. " from the Nigel Jaquiss article above.

brandonpdx
Mar 21, 2007, 6:23 PM
there was, and still is, more going on than just the rehab, but this is a bummer...I see 65MAX's scenario and post 11 as a still a possibility with GE. Can some bloggers here find out who owns the block next to the galleria?
http://www.wweek.com/editorial/3237/7780

The Goodmans own it.

pdxstreetcar
Mar 21, 2007, 8:27 PM
hopefully something will be worked out with these discussions between the developers and the city to get a project built on that site

MarkDaMan
Mar 21, 2007, 8:59 PM
I was doing some searching on other threads and still can't figure out why the hell there were only two crappy proposals that came in. Here is an excerpt from another article for the RFP issued by the PDC for riverplace's parcel 8:

"Some of the usual suspects for Portland development of this scale – Gerding Edlen Development, Trammell Crow Co. Real Estate and Investment, and Williams and Dame Development – were unavailable for comment Tuesday. John Carroll of Carroll Investment Co. said his company, which built The Eliot in Portland’s West End and The Gregory in the city’s Pearl District, is busy preparing its response to another PDC-issued RFP for a parking garage at Southwest 10th Avenue and Yamhill Street. That RFP is due March 1."
http://forum.skyscraperpage.com/showthread.php?t=124559&highlight=Parcel

I mean, can bidding to renovate a parking garage (as it turns out was his proposal) be so labor intensive you can't bid for a block that is already shovel ready?

Dougall5505
Mar 21, 2007, 10:33 PM
^maybe you can get your friend at GE to spill the beans about their proposal?

pdxskyline
Mar 21, 2007, 10:35 PM
65Max is rigth. They just can't tear out all that parking without replacing it first. We'll just have to keep watching north of the Galleria I guess-less parking removed if you redevelop that first.

Perhaps the city wants crappy proposals right now so they can build up support for tearing that hideous garage out and replacing it with a high-rise. Maybe a renovation is just a stop-gap measure?

The city seems pretty schizzo when it comes to this project. I wish they'd just say what they want to do with it and just freakin do it all ready.

MarkDaMan
Mar 21, 2007, 10:41 PM
^maybe you can get your friend at GE to spill the beans about their proposal?

doubtful, he gives me information on 'secret' projects all the time, but this one was like a fireable offense if he released details, and trust me, I tried to persuade him with food, drinks, and well...other measures...Maybe since it's done, and much ado about nothing, he'll open up...possibly...

In any case, it won't stop me from asking next time I talk to him!

pdx2m2
Mar 22, 2007, 3:27 PM
The city's main goals at this site are getting better retail at the street level and protecting or enhancing the quantity and quality of the parking. These are PDC's main goals. The folks that operate the garage would love to find someone else to pay for making this happen...thus the developer proposals. If the developer proposals don't work out the City will go back to their original idea of a major garage remodel to transform the retail and improve the light rail stations while cleaning up the stairs and elevators by making them more secure.

MarkDaMan
Mar 26, 2007, 10:38 PM
^maybe you can get your friend at GE to spill the beans about their proposal?

not a chance, this weekend he just said G-E wouldn't have spent 'hundreds of thousands' his words, bidding for a parking garage renovation.

tworivers
Mar 27, 2007, 12:50 AM
^^^ Isn't that what G/E just did?

MarkDaMan
Mar 27, 2007, 3:19 PM
^I think he means there was more going on behind the scenes...well, I know there is because he wouldn't, and his company wouldn't be so uptight about any information leaking on this one when he's been candid about so many other projects that aren't 'public' yet.

I don't know if anything is ongoing though so I'm thinking, at least for the time...this project is :dead:

MitchE
Mar 28, 2007, 2:44 PM
Garage RFP stuck in park, but city plans haven't died
by Alison Ryan
03/28/2007
Daily Journal of Commerce

Change is ahead for the 27,000-square-foot retail space that sits underneath the parking garage at Southwest 10th Avenue and Morrison Street, but whether that change will be accompanied by a public-private partnership for larger development remains to be seen.

The city of Portland and the Portland Development Commission last week pulled back a request for proposals to redevelop the seven-story Smart Park garage. The RFP, issued in mid-November, asked proposers to offer solutions for improvements to ground-level retail and parking spaces, plus possibilities for residential and commercial uses.

Four developers had responded to an initial request for qualifications issued in June 2006. All four – Gerding Edlen Development Co., Weston Investment Co., Carroll Investments and Parr Financial – were green-lighted to respond to the RFP, but only Carroll Investments and Parr Financial did so.

Each proposal called for ownership of the block. And that, said David Logsdon, Smart Park manager and the city lead on the redevelopment project, meant that the proposals failed to meet one of the RFP’s key requirements – that the city continue to own and operate the block’s parking function.

“The city’s position all along has been that we think it’s important to maintain ownership of the garage,” he said.

Important – and necessary, according to the city. According to the RFP, the garage earns $1.1 million of revenue per year. Revenue from the city’s seven-garage Smart Park system goes first toward the operation of the garages. And then, Logsdon said, there’s bond debt on the whole system – specifically, bond debt that financed construction of the Portland Streetcar.

Up next for the project is “debriefing” of the proposers – and the qualified developers that didn’t respond. Within two or three weeks, Logsdon said, he hopes to schedule meetings with each. And within the next 60 days, he said, the city should know if there’s a way to modify its RFP and continue to pursue a larger development.

“Apparently it hasn’t worked,” he said, “and we want to find out why.”

Meeting with the developers that didn’t meet the March 1 RFP deadline is part of the learning process. Non-responders Gerding Edlen and Weston Investment expressed an initial interest in the garage redevelopment, Logsdon said, and the city would like to get the benefit of the thinking that went into their project concepts.

The contents of the responses to the RFP, said Lisa Lofgren, vice president of Parr Financial, will not be made public by the city; Parr Financial declined to discuss its proposal as well. At this point, Lofgren said, Parr has not scheduled a meeting with the city, nor has it discussed future options for the site.

“We’re just pretty much going with their decision that it’s closed,” she said.

John Carroll of Carroll Investments did not return phone calls seeking comment.

If a public-private partnership can’t be established, the city would return to an earlier plan, created in conjunction with the PDC, that would remodel the 27,000-square-foot retail level of the garage. The site is within the PDC’s South Park Blocks urban renewal area and is targeted as a key area of improvement within the central city. And, according to the RFP, PDC has up to $7.5 million aimed toward retail and ground-floor improvements; the city has up to $3.5 million in its major maintenance account marked for property improvements.

Improvements will happen, Logsdon said – it’s just a matter of on what scale.

“We have a pretty firm commitment to improving the retail presence of that garage,” he said. “It’s been a significant issue to that area of downtown.”

tworivers
Mar 28, 2007, 4:29 PM
Hmmm, so G/E didn't turn in a proposal. (Didn't I read here somewhere that they were one of the two?) This would explain Mark's friend's statement, and could be a good sign. Hope that meeting goes well, I want that garage underground.

Snowden352
Aug 6, 2007, 3:12 PM
Now, I (we) legally can't post the article (right?) so here's a link to an article on the aforementioned site:
http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/118627712192490.xml&coll=7

Note: I couldn't find the original thread, so if someone can...

PDX City-State
Aug 6, 2007, 3:56 PM
I think you can post it if you link to it---right?

This is good news. I'd like to see the whole thing go, but this would be cheaper and better than nothing...which is what will happen if there's too much Portland-style turd polishing.

Dougall5505
Aug 6, 2007, 10:25 PM
can the foundation of the parking garage support another 25 stories or would they have to tear it down it build it back up again

CouvScott
Aug 6, 2007, 10:46 PM
can the foundation of the parking garage support another 25 stories or would they have to tear it down it build it back up again

I would imagine they would just beef up the existing support columns

PacificNW
Aug 6, 2007, 11:47 PM
If that is the case all the city owned garages (the one's across from Pioneer Place, for example) should be considered as parking/foundations for affordable housing (especially for those working minimum wage jobs in downtown PDX) to be designed/constructed on top of each structure, imo.

zilfondel
Aug 7, 2007, 12:50 AM
Oh my god:

The city didn't want to sell the property, one of seven city-owned Smart Park garages. Logsdon said the city wants to control the land and it also needs the parking fees to help pay debt used to build the streetcar tracks. The structure generates $2.4 million in revenues, or about 25 percent of all the city's parking garage revenue.

MarkDaMan
Aug 14, 2007, 12:59 AM
City OKs talks with Carroll on Smart Park redevelopment
Daily Journal of Commerce
by Alison Ryan
08/13/2007


Redevelopment of the seven-story Smart Park garage at Southwest 10th Avenue and Yamhill Street is moving forward, but upcoming negotiations still have issues to resolve.

Portland City Council on Wednesday voted to let the Portland Development Com-mission begin garage improvment negotiations with developer John Carroll.

The city and the PDC in March pulled back a request for proposals to redevelop the Smart Park garage. Four developers, Gerding Edlen Development Co., Weston Investment Co., Carroll Investments and Parr Financial, had responded to a June 2006 request for qualifications; all four were found qualified. But only Carroll and Parr responded to the RFP, which asked developers to offer ideas for renovation of retail and development of commercial and residential uses while still keeping the block under city ownership.

Because the proposals from Carroll Investments and Parr Financial each called for ownership of the block, the city threw them out. But, said David Logsdon, Smart Park manager and the city lead on the redevelopment project, the city still wanted a fix for the garage, so it continued discussions with the developers.

“We offered to meet will all four, just to find out what would work, what wouldn’t work, in a development of that space,” he said.

Ultimately, said PDC senior development manager Lew Bowers, Carroll said he thought adding a tower on top of the existing garage while the city continued operation of the Smart Park, which earns $1.1 million of revenue per year, would work.

“If we can get those air rights used, that’s a home run from our point of view,” Bowers said.

Exactly what the tower will include, Carroll said, will evolve as talks with the PDC continue. But it will definitely be an “aggressive” mixed-use project, Carroll said, combining residential units with commercial space that he’s hoping to offer to a collection of nonprofits, or perhaps even an alternative school, that would benefit from the urban location. The retail at ground level will also get a makeover.

The Carroll proposal meets the city’s original goals for the redevelopment, Logsdon said. The building atop the garage, expected to be more than 25 stories, would add a greater mix of uses. The dark, underused retail spaces at ground level would get a lift.

But, the PDC’s Bowers said, there are major issues still ahead for the process. Seismically upgrading the garage so that a tower can safely stand atop it would cost a lot. Whether or not the parking garage can remain open during construction is another issue. And how much the project will cost, and how much of that cost will be tempered by public funds, needs to be determined as well.

Wednesday’s City Council endorsement doesn’t mean the project’s a sure thing, Bowers said, but that “we agree to talk about this exclusively with each other to see if it’s a deal.” If it is a deal, the city would need to approve a development and disposition agreement that would outline the public commitment and the private commitment to the project.

If Carroll’s tower becomes reality, it’ll sit directly next to another skyward-reaching piece of architecture: Park Avenue West, the 412-foot, 35-story tower that developer Tom Moyer is planning for Southwest Park Avenue and Yamhill Street.

The addition of 25 or more stories atop the existing seven-story garage would put Carroll’s project on a similar scale. The height limit for the block is 460 feet. Carroll said he plans to pursue full build-out for the block.

“Press the envelope,” he said. “Let’s get the density where it’s supported.”

So far, Bowers said, he’s excited by what Carroll’s proposing. The garage currently does what it’s supposed to do – house cars – but it’s not visually appealing. The early conceptual designs by Ankrom Moisan Associated Architects, Bowers said, are transformative.

“You wouldn’t recognize it,” he said.

The concepts Ankrom Moisan has come up with, Carroll said, are still loose, offering a range of solutions. But he wants something great.

“In my lifetime, I’d like to contribute something to the skyline and to strengthen downtown,” he said, “and this project is an opportunity to do that.”
http://www.djcoregon.com/viewStory.cfm?recid=29927&userID=1

Dougall5505
Aug 14, 2007, 1:57 AM
so ankrom moisan is designing the project or just the garage facelift?

MarkDaMan
Aug 14, 2007, 3:52 AM
from my read, they are preparing the conceptuals for the entire project.

crow
Aug 14, 2007, 1:23 PM
sounds like an interesting project - i hope Ankrom Moisan will make us proud!

PDX City-State
Aug 14, 2007, 2:39 PM
sounds like an interesting project - i hope Ankrom Moisan will make us proud!

That's wishful thinking.

PDXPaul
Aug 15, 2007, 1:20 AM
Man there goes the garage I always park in... boo!

nwroots
Aug 15, 2007, 1:58 AM
Man there goes the garage I always park in... boo!


PDXPaul, It sounds like the garage is still going to be there, although, hopefully much nicer and without skyhigh parking rates. I hope all of the politics get figured out to be able to see it actually come to fruition. Let's also hope the rendering is classy. This tower, along with PAW, will really help to increase the density downtown and fill in the skyline. I still dream about having one or two 600+ footers downtown...Maybe NIKE could build a world HDQ tower! LOL! We will happily take another 460 footer though...

pdxman
Aug 15, 2007, 2:05 AM
I'm still hoping the broadway tower comes to fruition. I also wonder if this project, should it pan out, could pave the way for more smart parks to be converted???

nwroots
Aug 15, 2007, 2:10 AM
I'm still hoping the broadway tower comes to fruition. I also wonder if this project, should it pan out, could pave the way for more smart parks to be converted???

Honestly, for me, The Broadway tower is the most exciting building proposal I have ever seen for Portland. Absolutley stunning. Does anyone have ANY update on it?

Rhome
Aug 15, 2007, 3:39 PM
^^^ I don't think we'll see much progress on the Broadway Tower until Moyer's other project (Park Avenue West) and related remodels around PB5 are further along, especially since he's funding these projects out of his own pocket. My understanding, though, is that the design of the Broadway Tower has changed from the earlier renderings, but how much and to what extent I don't know. And there's also the failed experiment of the Ladd Tower right next door to the Broadway Tower block that will delay further luxury condo development along the park.

I'm still keeping an optimistic view of the situation and wouldn't be surprised if we see construction start on an amazing design in three years.

PacificNW
Aug 15, 2007, 4:40 PM
⬆ "failed experiment"? That's a little extreme...and negative considering the Ladd Tower is still being built.

PDX City-State
Aug 15, 2007, 6:04 PM
With really low rental vacancies and an increasing demand for luxury apartments, developers can finance these projects as apartments and "condo" them out when the market improves. This is what's happened at the Ladd, I've heard the Louisa will one day be condos, and based on the rumour mill, it's looking increasingly likely the Wyatt will have a similar fate. There's an apartment shortage in Portland. I wouldn't call the Ladd Tower a failure, nor would I rule out the possibility for more development on Broadway. The only thing that's changed is the use.

Rhome
Aug 15, 2007, 7:44 PM
The Ladd Tower has failed as a condo tower in this market. That being said, I am still happy that it is being built and will provide more eyes on the street/park through use as apartments. And that is not to say that in 5-10 years the Ladd will convert to condos. But the Broadway Tower will never be built with smaller units and 8 foot ceilings as the Ladd Tower was forced to do. The Broadway was conceived as superpremium and I doubt would be amenable to apartment conversions. Until the condo market turns around, I don't think the Broadway will be built.

zilfondel
Aug 16, 2007, 12:41 AM
The addition of 25 or more stories atop the existing seven-story garage would put Carroll’s project on a similar scale. The height limit for the block is 460 feet. Carroll said he plans to pursue full build-out for the block.

“Press the envelope,” he said. “Let’s get the density where it’s supported.”

okay, I don't say this often, but... 600 feet!

PDX City-State
Aug 16, 2007, 12:46 AM
okay, I don't say this often, but... 600 feet!

Hell yeah! :skyscraper: :skyscraper: Something that the NIMBYs in Northwest Portland can see from every vantage point in town.

nwroots
Aug 16, 2007, 5:37 AM
Hell yeah! :skyscraper: :skyscraper: Something that the NIMBYs in Northwest Portland can see from every vantage point in town.


LOL! Maybe it will block their view of the Koin tower for which they aggresively protested in the 80's for blocking the view of Mt. Hood from Hwy 26. HA!

Attn PDX NIMBY's, if you want permanent views of the mountain....get out of the CITY and move to Sandy! Even there trees will grow and block your views in time. You wouldn't dare cut down a tree, would you? Everything changes in time. Our skyline is no exception. Let's all embrace change. Keep Portland on a human scale, convienent, and lively. But also plan for density. Build UP in appropriate areas rather than OUT even further. A 600-700 footer or two would not make downtown a cold, dark, canyon and could really look nice if properly designed. I don't believe PDX should build supertall though...it just wouldn't feel right the way the town currently is. Maybe long after we are switched to the Amero and the country is dismantled. Who knows what will happen then?

Did I hear something about the city council or the PDC considering raising some height restrictions sometime soon?

zilfondel
Aug 17, 2007, 9:47 PM
We could fit a supertall in the Lloyd. But that's probably the only place where one would fit, but even then there are limits to compatibility.

Sioux612
Aug 21, 2007, 2:06 AM
Honestly, for me, The Broadway tower is the most exciting building proposal I have ever seen for Portland. Absolutley stunning. Does anyone have ANY update on it?

This would be the tallest building in Portland, correct?

http://i201.photobucket.com/albums/aa254/pdxprojects/bwtwr.jpg

bvpcvm
Aug 21, 2007, 2:16 AM
not unless it's over 40 stories - the two bank towers would have it beaten easily. this is one of those projects that i think is little more than someone's back-of-the-napkin drawing for now. not saying it won't ever happen, but i think it's pretty far off. esp. given the current condo market and the fact that moyer probably has his hands full with park avenue west for now.

MarkDaMan
Aug 21, 2007, 4:06 AM
Does anyone other than me think that PAW looks an awful lot like the earlier 'Broadway Tower' renderings?

Who knows what's up with Moyer's Broadway site after all the brouhaha over the Ladd Tower and the height over the park issues.

Dougall5505
Oct 12, 2007, 5:26 PM
does anyone have any inside info on this one? What is John planning?

CouvScott
Oct 24, 2007, 5:40 PM
http://i40.photobucket.com/albums/e214/couvttocs/10thandyamhillparkinggarage.jpg

Dougall5505
Oct 24, 2007, 10:17 PM
interesting...

Stepping Razor
Oct 24, 2007, 10:58 PM
I don't know, it seems to me that if the existing awful garage stays around as the podium, that thing is going to be pretty hideous, both aesthetically and in its interface with the street-level pedestrian realm. I'm kind of shocked that the preference isn't to knock down the existing monstrosity and start over from scratch, to be honest. Is it really that much cheaper to build a skyscraper on top of the existing garage than to build an entirely new garage/tower structure?

Rhome
Oct 24, 2007, 11:41 PM
^^^ It looks like one of the goals of the project is to preserve the parking spaces and revenue for the City and to minimize this loss during construction -- this kind of ties their hands to keeping the existing structure:

http://www.pdc.us/pdf/about/commission_meeting/2007/1024/Board%20Report%2007-126%20-%2010th%20and%20Yamhill.pdf

So what's next?

"If a development agreement is reached, the project will include a major renovation of the existing parking structure including seismic upgrades, remodeled elevator and stairwells and major changes to the retail areas. Due to these changes to the existing public building, an exemption to competitive bidding requirements in ORS 279C.330 and City Code Title 5 Section 5.34.800 will be necessary prior to entering into a development agreement. OMF and PDC believe that the alternative contracting method of negotiating directly with Carroll Investments, Inc. presents the best opportunity to establish an acceptable redevelopment proposal for the benefit of the City. OMF and PDC will present required information to the City Council within the next 60 days in support of the public benefits of this alternative contracting method so that the City Council, as the Local Contract Review Board, may determine whether to exempt this project from the competitive bidding requirements of ORS Chapter 279C."

PDX City-State
Oct 24, 2007, 11:50 PM
I think it is a whole lot cheaper...otherwise they would tear it down. It's not ideal, but this deal has potential to be very good for the city. That garage is a piece of shit, and while I don't love all of Carroll's buildings (I hate the Gregory and Elizabeth though many people love them), he really cares about Portland and I'm glad he's doing this one.

PacificNW
Oct 24, 2007, 11:59 PM
⤴ I proposed an idea, a couple years ago, on this forum that all the city allow "affordable apartments" to be built on top of the city owned parking garages. I still feel this could work.

Okstate
Oct 25, 2007, 2:43 AM
Not a bad idea PacificNW. Car alarms going off could be annoying though.

zilfondel
Oct 25, 2007, 2:57 AM
Hmm... perhaps we could set a new paradigm strategy for all those cities in the Midwest and the south that saturated their downtowns with above-level parking garages. :shrug:

Could help Eugene out, too, if they ever decide to build up.


On the flip side, once downtown land prices are high enough... anyone who developed this might be shooting themselves that they couldn't replace it with a luxury tower.

sopdx
Oct 25, 2007, 4:22 PM
Great idea Pacific NW - or how about 'places of worship'. Many have parking lots and the institutions enjoy tax-free status.

Dougall5505
May 1, 2008, 10:13 PM
update from a email, sounds like plans are progressing
10th and Yamhill Garage Update

Project planning stages are progressing on the 10th and Yamhill Garage Redevelopment. There are a few different planning options currently being considered. One option involves a renovation with a new tower built on top of the existing garage that will necessitate the garage be closed for eight months. Another option involves rebuilding the entire structure from the ground up with the possibility of two levels of underground parking opening after 11 months.

The DRC has asked the 10th and Yamhill Garage developer to provide reports based on current utilization rates at the Smart Park garage, the parking garage at Fox Tower and the surface parking lot next to the Galleria. With a comprehensive redirection plan in place, we can provide downtown shoppers with ample and convenient parking options during the garage construction process.

sopdx
May 2, 2008, 5:08 PM
Awesome news, thanks!

urbanlife
May 2, 2008, 9:14 PM
sounds positive, lets hope it all pans out well. This would be Portland's 4th tallest if I am not mistaken, if it happens.

nwroots
May 30, 2008, 6:51 AM
This would be the tallest building in Portland, correct?

http://i201.photobucket.com/albums/aa254/pdxprojects/bwtwr.jpg

Maybe if the spire were longer than my penis. LOL

mudshark
May 30, 2008, 7:21 AM
Would it be way cool if they tore down the eyesore of a garage, dug deep to build an underground garage, then connected it with PAW's garage, which of course will be connected to Park Block 5's, and then Fox Tower's......4 blocks of underground connecting garages. That would be sweet.:tup:

dkealoha
May 30, 2008, 2:03 PM
Would it be way cool if they tore down the eyesore of a garage, dug deep to build an underground garage, then connected it with PAW's garage, which of course will be connected to Park Block 5's, and then Fox Tower's......4 blocks of underground connecting garages. That would be sweet.:tup:

4 blocks of connected underground zigzagging parking garages sounds confusing to me... It would make most sense to tear down Nordstrom, dig down for a parking garage, build whatever on top, and connect all 4 blocks in a giant square like the brewery blocks garage is.

mudshark
May 30, 2008, 2:20 PM
:previous: What's so confusing about a zig-zag garage? No knock on your post dkealoha (everyone is entitled to an opinion), but this box/square shape thing is becoming so Portland that it's time we think "outside" of it. Just like the boxy slab buildings EVERYWHERE. It's 2008, let's get on with this century!

I think most people would be able to find their way through what amounts to 2 right angles without too much difficulty. Actually, it's already going to be zig-zagged. Taking it one block west wouldn't change the shape it's already destined to be.

I just think it's time P-town wakes up and smells the coffee that's ubiquitous here. Let's be weird like the bumperstickers that seemingly aren't quite on target. We don't have to shake things up with everything, but once in a blue moon might be nice.

Box Schmox.

zilfondel
May 30, 2008, 3:27 PM
how about not posting while drunk?

mudshark
May 30, 2008, 5:02 PM
Excuse me? I rarely if ever drink, and I've seen some posts on here that were a bit more verbally abusive in response to another post. Accusations aren't cool. Especially when they're incorrect. Being able to express my opinion regardless of whether it's anyone else's belief is ok. I worked all night on a freelance project. Pardon me for making an error in judgement on the block going west and forgetting my L's from my ZigZags.

Just because I don't work in or study urban issues as intensely as others here doesn't mean I can't express my opinion. I know that I've contributed to this forum in ways others have not with some of the art I've conjured up as to the future look of Portland. I care about the city as much as anybody on here, or I wouldn't be here.

Next time I read a post of yours that has a mistake I'll make sure to "not" make any accusations. Regardless of whether it's a technical error or a matter of an opinion and the right to state it.

Being able to state my opinion is my right, whether you agree with it or not. Accusing me of being drunk isn't cool, and off base. I'll take it no further.

I can finally go to bed now that my proofs are out to my client.

Have a great weekend.

IanofCascadia
May 30, 2008, 5:16 PM
Excuse me? I rarely if ever drink, and I've seen some posts on here that were a bit more verbally abusive in response to another post. Accusations aren't cool. Especially when they're incorrect. Being able to express my opinion regardless of whether it's anyone else's belief is ok. I worked all night on a freelance project. Pardon me for making an error in judgement on the block going west and forgetting my L's from my ZigZags.

Just because I don't work in or study urban issues as intensely as others here doesn't mean I can't express my opinion. I know that I've contributed to this forum in ways others have not with some of the art I've conjured up as to the future look of Portland. I care about the city as much as anybody on here, or I wouldn't be here.

Next time I read a post of yours that has a mistake I'll make sure to "not" make any accusations. Regardless of whether it's a technical error or a matter of an opinion and the right to state it.

Being able to state my opinion is my right, whether you agree with it or not. Accusing me of being drunk isn't cool, and off base. I'll take it no further.

I can finally go to bed now that my proofs are out to my client.

Have a great weekend.

Um, my guess is that Zilfondel was not referring to your post. I'll admit that it is just a little strange when we start comparing buildings to body parts. :rolleyes:

mudshark
May 30, 2008, 5:45 PM
ooops. well, if that's the case, then i feel like the dummy. but i worked 15 straight hours through the night into morning (with just a few breaks) and am dog tired, therefore, a bit groggy. zin, if i was off base, my pardons.......if i wasn't......none buddy ; )

all good.....peace.

zilfondel
May 31, 2008, 3:52 AM
heh, its all cool. I should have posted [humor] tags anyways...

I'm really not a stick-in-the mud. Honest... :P

mudshark
May 31, 2008, 4:49 AM
yes, it is all good....i know you're not a stick in the mud.....just a re-bar in it!! ; ) KIDDING.......man, weird being up working all night, and sleeping through one of our SUNNY days! damn......Hope it lasts a few more.

WestCoast
May 31, 2008, 6:01 AM
great to see this progressing.

that garage, like most of them downtown, is really an eyesore.

The street level interface near the max is cold, desolate and devoid of life.
Cool news if this keeps going through.

dkealoha
May 31, 2008, 7:54 AM
Make your garages zig zag and upside down for all I care... I don't drive.

PacificNW
May 31, 2008, 6:39 PM
Isn't that above rendering, provided by NWRoots, of the proposed Broadway Tower sitting next to the Ladd Tower?

nwroots
May 31, 2008, 7:43 PM
My apologies..... I was drunk. :slob:

philopdx
May 31, 2008, 7:59 PM
So could the existing garage structurally support an additional 30 or so floors on top? I've seen buildings adding two or three floors like Meier and Frank or the refurbished Courtyard at Marriott but quadrupling the height seems extreme.

But then, I'm not a structural engineer, so maybe this is a piece of cake!

bvpcvm
May 31, 2008, 8:16 PM
wasn't the whole idea to tear down the garage, put the parking underground and then build the tower on top? i.e., not use the current structure?

tworivers
May 31, 2008, 11:25 PM
From my understanding, both options are on the table now with Carroll --tearing down the garage and starting over, or renovating the garage and building on top. I'm in favor of a tear-down, of course, but any kind of improvement there that includes an improved streetscape and a people-filled tower is fine by me.

mudshark
Jun 1, 2008, 2:15 AM
That NWroots.....rabble rouser.... ; ) I hope that this building comes to fruition. If you go to my link and click 3 times on the 6th image (for the full view), you'll get an idea of what "could" be. As well as my tallest, which really should go over in Lloyd, but looks pretty bitchin' downtown.

Sekkle
Jun 1, 2008, 3:44 AM
^ Nice work :tup:

MarkDaMan
Jun 1, 2008, 5:18 AM
I like your 'new tallest'. I could see that in Portland.

mudshark
Jun 1, 2008, 7:32 PM
Thanks....i'm going to have to make myself a website though. Imageshack has been VERY unstable here of late. I get on there and sometimes my images are there, sometimes they're not. I know there are other hosting sites. Hopefully (til' I get my own site) one of them will be better than the "shack."

zilfondel
Jun 1, 2008, 8:00 PM
photobucket is good.

PacificNW
Jun 1, 2008, 9:32 PM
Yup, I use Photobucket....works for me..

mudshark
Jun 2, 2008, 12:47 PM
thanks for the tips......i'lll check out the bucket. hopefully you can move your images around in there too (like on myspace)....you can't on imageshack, at least not to my knowlege. either way, i don't want to get off base on this garage that's going to be 460 feet tall! (we hope)........this part of downtown is going to have some height. it's great. i'll say my prayers that it does happen. To have 3 tall buildings almost block to block to bock is superb.

MarkDaMan
Jul 4, 2008, 5:42 PM
Friday, July 4, 2008
City sets Yamhill makeover
City tells Bush Garden, Mother Goose it will subsidize their rent
Portland Business Journal - by Andy Giegerich Business Journal staff writer

At downtown Portland's Southwest Ninth Avenue and Morrison Street, worlds are colliding.

The neighborhood is home to high-end stores such as Brooks Brothers and Mother Goose. It also contains the decidedly lower-rent Peterson's on Morrison convenience store.

City officials, eager to redevelop the area for years, may finally get their wish.

The city -- which owns the block and operates the Smart Park Garage above its three retail spaces -- refused to renew Peterson's lease, so the store must close by Aug. 15. It has also told the Bush Garden Japanese Restaurant and Mother Goose that it will effectively subsidize their rent for at least the next year.

The flurry suggests the city is serious about correcting the site's many issues. It's a critical spot, with two light-rail lines that make it a transportation hub. Plus, business interests believe it can serve as a better gateway to developing commercial properties across Southwest 10th Avenue.

"It's been a big part of our downtown retail strategy," said Marion Haynes, a Portland Business Alliance spokeswoman. "It can help with the West End and develop a better connection to the Brewery Blocks" north and across West Burnside Street.

Colin McCormick, Mayor Tom Potter's policy manager for public involvement, said recent developments relate mainly to uncertainty over when construction on adjacent blocks will end and exactly when the 10th and Yamhill redevelopment can begin.

In particular, Potter believes that Bush Garden, at 900 S.W. Morrison St., and The Real Mother Goose, at 901 S.W. Yamhill St., have suffered because nearby construction has closed Southwest Ninth Avenue and hampered access to them. The city's moratorium on the retailers' rents will last one year.

The Real Mother Goose pays around $12,000 a month, while Bush Garden pays $3,000 a month. Peterson's pays $2,900 monthly.

"The construction over there makes it tough for customers to reach them," said John Doussard, a Potter spokesman. "And we've not been able to pull the trigger with what to do with the building."

Sho Dozono, who lost in May's mayoral primary to City Commissioner Sam Adams, owns Bush Garden. Potter endorsed Dozono in the election.

Dozono had come under fire during the campaign for owing the city more than $18,000 in back rent and taxes on the building.

Both Bush Garden and The Real Mother Goose could benefit when the full 10th & Yamhill project, led by developer John Carroll, becomes better defined.

Planners began mulling work on the site in 2002 and finally agreed in 2007 to co-develop it with Carroll.

David Logsdon, who's overseeing the project for the management and finance department, said economic conditions could make it difficult to find project funding. The public cost for redeveloping the retail spaces and the garage, from tax-increment financing and a parking fund, could reach $30 million. The entire project, expected to include a tower atop the existing garage, could cost $160 million.

"There's a bit of interest now in, let's make decisions and move forward," said Logsdon. "We want to make sure we get something done because there could be a lot of dark retail space, and that's not good."

The city council expects to review more proposals by summer's end, said Lisa Abuaf, a Portland Development Commission project manager.

"It's a pretty significant public investment, so we're taking the time to do it right," she said.

Carroll said the site will likely sandwich a revamped Smart Park garage between ground-floor retail spaces and upper-level housing and office units.

It likely will not, however, include Peterson's, which has operated on the site for 23 years. Doug Peterson said the site generates $1.4 million of his three stores' $2.9 million in revenue.

But Mike Reese, a Portland Police Bureau commander, said the site generates at least 30 incidents that require police responses yearly.

The city, citing the public drinking and public urination that allegedly occur around the store, informed Peterson in April that it would end his lease by Aug. 15. Nearby Brooks Brothers has also experienced high theft rates, according to the Portland Business Alliance.

"The record speaks for itself: That one particular store has had an impact on all surrounding businesses," said the PBA's Haynes.

Peterson counters that his store simply generates a lot of foot traffic, which may attract large assemblies of different clientele. He believes that shuttering the store contrasts with officials' desire to attract more downtown residents because many urban dwellers want access to 24-hour retail outlets.

"We're being told we're the bad guys who are drawing all the riff raff," said Peterson. "But you walk by Pioneer Place or Carl's Jr. or McDonald's or even Nordstrom's and you see them there, too."

agiegerich@bizjournals.com | 503-219-3419
http://portland.bizjournals.com/portland/stories/2008/07/07/story1.html?t=printable

pdxman
Jul 4, 2008, 5:47 PM
Good to see this project move forward...that garage definitely needs some major TLC.

IHEARTPDX
Jul 5, 2008, 6:15 AM
12,000 A MONTH! I managed a store in Soho in NYC that paid that much in rent. How are they making a profit? Holy crap.

PDX City-State
Jul 5, 2008, 5:06 PM
That has to be a mistake. There's no way that site commands $12,000 per month.

scleeb
Jul 5, 2008, 5:06 PM
Actually, $12,000 per month in rent is pretty reasonable. In fact, it's on the low side for the core of the CBD. Assuming The Real Mother Goose occupies 7,500 sqft (a rough guess), they're annual rent is less than $20 per sqft. For context, the market rate for quality retail space in the CBD is around $28 - $35 per sqft. Less desirable space goes anywhere from $16 - $24 per sqft. Also, retail space always rents at triple net rates. This means that, in addition to their rent payments, tenants are also on the hook for all taxes, insurance and maintenance expenses associated with their space as well.

Incidentally, some of the jewelry retailers on Broadway pay $60 to $70 per square foot.

On the other hand, Bush Garden is only paying $3,000 per month in rent. That's exceptionally low. I dare say that Bush Garden has negotiated one of the best retail leases in all of the CBD. Petersen's is only paying $100 per month less for goodness sakes. Sho Dozono knows how to cut a good deal. That rate is hard to believe. I wonder how may other city leases are that favorable. Probably not many.

urbanlife
Jul 6, 2008, 2:53 AM
Actually, $12,000 per month in rent is pretty reasonable. In fact, it's on the low side for the core of the CBD. Assuming The Real Mother Goose occupies 7,500 sqft (a rough guess), they're annual rent is less than $20 per sqft. For context, the market rate for quality retail space in the CBD is around $28 - $35 per sqft. Less desirable space goes anywhere from $16 - $24 per sqft. Also, retail space always rents at triple net rates. This means that, in addition to their rent payments, tenants are also on the hook for all taxes, insurance and maintenance expenses associated with their space as well.

Incidentally, some of the jewelry retailers on Broadway pay $60 to $70 per square foot.

On the other hand, Bush Garden is only paying $3,000 per month in rent. That's exceptionally low. I dare say that Bush Garden has negotiated one of the best retail leases in all of the CBD. Petersen's is only paying $100 per month less for goodness sakes. Sho Dozono knows how to cut a good deal. That rate is hard to believe. I wonder how may other city leases are that favorable. Probably not many.

Actually the per sq ft pricing is a yearly pricing, so I am guessing that it was a typo or they really have a bad deal. Although there are locations in town that do have that high of a monthly cost, I just have a hard time believing that spot is one of them.

PDX City-State
Jul 6, 2008, 7:39 AM
I'm aware of rent rates in the retail core, but there's no way the Mother Goose Space is 7,500 square feet. I'm guessing it's more like 2,000. What's more, that's a prime location, but a subprime property.

MarkDaMan
Jul 6, 2008, 3:41 PM
^They actually have their 'headquarter' offices located off the show room in the parking garage location.