HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Regional Sections > United States > Pacific West > Portland > Downtown & City of Portland


Reply

 
Thread Tools Display Modes
     
     
  #501  
Old Posted Jun 2, 2016, 3:11 AM
maccoinnich maccoinnich is online now
Moderator
 
Join Date: Jan 2009
Location: Portland
Posts: 7,389
Quote:
First look inside the new 600-space Lloyd Cycle Station



A key piece of the decades-long vision for the Lloyd District came into focus this morning when the Lloyd Cycle Station – and its 600 secure bike parking spaces – opened to the public.

We shared the lowdown on the the Cycle Station earlier this month and today I attended the grand opening. To refresh your memory this facility is part of the Hassalo on Eighth development that has arisen on a former surface parking lot on the 700 block of NE Multnomah. There are three new buildings in this development and they all strongly encourage a low-car lifestyle among their tenants. Along with an adjacent MAX light rail line and one of Portland’s best protected bike lanes (on NE Multnomah), Hassalo residents now have their choice of 1,200 bike parking spaces. Compare that to just 328 auto parking spaces and you can see why car ownership is only optional here.

Before the ribbon was cut this morning, American Assets Trust Vice President Wade Lange said, “Our architects took a code requirement [for bike parking] and turned it into infrastructure that’s unparalleled in North America.”
...continues at BikePortland.
__________________
"Maybe to an architect, they might look suspicious, but to me, they just look like rocks"

www.twitter.com/maccoinnich
Reply With Quote
     
     
  #502  
Old Posted Jun 26, 2016, 5:29 AM
bloo bloo is offline
Registered User
 
Join Date: Nov 2014
Posts: 13
Quote:
Originally Posted by maccoinnich View Post
Yeah, it definitely seems like leasing is going much more slowly at the two recently completed buildings. I'm in two minds about this. On the one hand I would be really happy if we were finally seeing enough units come onto the market to stabilize rents. On the other hand, I would really like to Oregon Square go ahead (ideally with a mix of for-rent and for-sale units).

I wonder if maybe the location in the Lloyd District is scaring away renters at this point. The neighborhood is still a while away from having the energy of the Pearl, the Central Eastside or even South Waterfront. I imagine the arrival of the retail tenants will make a big difference.
I noticed yesterday that the opening of Cafe Yumm is imminent - not sure what its official opening day is...but it made me wonder about the complex's current leasing status. I found the following (based on info from their web-site):

Velomor: 15/177 ready for lease (92% occupied/8% vacant)
Elwood: 27/143 ready for lease (81% occupied/19% vacant)
Aster: 40/337 ready for lease (88% occupied/12% vacant)

So, ~ a year after they started move-in, the complex is getting close to capacity. Looking forward to phase 2!
Reply With Quote
     
     
  #503  
Old Posted Jun 27, 2016, 12:21 AM
bloo bloo is offline
Registered User
 
Join Date: Nov 2014
Posts: 13
Cafe Yumm

Went for a look-see around Hassalo on Eighth today for signs of new retail life. The sites for Boxer Ramen and The Garden Bar are still empty shells. Little Big Burger has staked its claim with a couple little signs in their window, but all I see inside are massive cubes of styrofoam that are being shaped into a sub-floor (I didn't know that was a thing), and really nothing else.

On the other hand, Cafe Yumm is looking great and is almost ready to go. The sign they have outside says they plan to open on July 6th.

3 cheers for more restaurant options in the Lloyd district!
Reply With Quote
     
     
  #504  
Old Posted Jun 27, 2016, 6:40 AM
innovativethinking innovativethinking is offline
BANNED
 
Join Date: Mar 2012
Posts: 591
Wasn't little big burger suppose to open by now? Something def going on with that
Reply With Quote
     
     
  #505  
Old Posted Jun 27, 2016, 7:29 PM
eric cantona's Avatar
eric cantona eric cantona is offline
Registered User
 
Join Date: Apr 2009
Posts: 670
Quote:
Originally Posted by innovativethinking View Post
Wasn't little big burger suppose to open by now? Something def going on with that
I've not asked anyone here, but the Little Big Burger space has been in limbo for several months. the Providence clinic across from it had the structural foam installed and the concrete poured in a few weeks. no idea what's taking so long for me to be able to get truffle fries whenever I freaking feel like it. think I may need to protest, or something.
Reply With Quote
     
     
  #506  
Old Posted Jun 27, 2016, 7:43 PM
innovativethinking innovativethinking is offline
BANNED
 
Join Date: Mar 2012
Posts: 591
Quote:
Originally Posted by eric cantona View Post
I've not asked anyone here, but the Little Big Burger space has been in limbo for several months. the Providence clinic across from it had the structural foam installed and the concrete poured in a few weeks. no idea what's taking so long for me to be able to get truffle fries whenever I freaking feel like it. think I may need to protest, or something.

They were suppose to open like months ago
Reply With Quote
     
     
  #507  
Old Posted Jun 27, 2016, 9:25 PM
babs babs is offline
Registered User
 
Join Date: Nov 2014
Posts: 384
Quote:
Originally Posted by innovativethinking View Post
They were suppose to open like months ago
The company that bought LBB has had it's own set of financial issues.
Reply With Quote
     
     
  #508  
Old Posted Jun 27, 2016, 10:28 PM
innovativethinking innovativethinking is offline
BANNED
 
Join Date: Mar 2012
Posts: 591
Quote:
Originally Posted by babs View Post
The company that bought LBB has had it's own set of financial issues.
Well that makes sense. If I'm not mistaken this was suppose to open late last fall
Reply With Quote
     
     
  #509  
Old Posted Jul 28, 2016, 6:51 AM
maccoinnich maccoinnich is online now
Moderator
 
Join Date: Jan 2009
Location: Portland
Posts: 7,389
From AAT earnings call:

Quote:
At Hassalo on Eighth in the Lloyd District of Portland, Oregon where we recently developed 657 multifamily units and approximately 40,000 square feet of store front retail, we have seen very favorable progress in the lease up of this project.

At the beginning of the week, our apartments are approximately 93% leased and 89% occupied. Our leasing velocity increased significantly during the second quarter due to 47 units being leased on sagged basis to a corporate housing tenant at the end of Q2 each for three month period.

Our leasing team is already working on replacing each of those units as they roll in three, we expect the Hassalo apartments to be at least 94% lease by the beginning of the fourth quarter of this year. In addition, we are now beginning to focus on getting apartment rents up to market Hassalo.

The store front retail at Hassalo on Eighth is approximately 70% leased with 7 recent store front retail tenants joining the specialty grocer Green Zebra which opened successfully this past April.
__________________
"Maybe to an architect, they might look suspicious, but to me, they just look like rocks"

www.twitter.com/maccoinnich
Reply With Quote
     
     
  #510  
Old Posted Aug 26, 2016, 2:17 AM
maccoinnich maccoinnich is online now
Moderator
 
Join Date: Jan 2009
Location: Portland
Posts: 7,389
Leasing flyer shows some new (but fairly boring) retail tenants: Fidelity National Title Company of Oregon; Point West Credit Union; H&R Block.
__________________
"Maybe to an architect, they might look suspicious, but to me, they just look like rocks"

www.twitter.com/maccoinnich
Reply With Quote
     
     
  #511  
Old Posted Dec 5, 2016, 1:07 AM
maccoinnich maccoinnich is online now
Moderator
 
Join Date: Jan 2009
Location: Portland
Posts: 7,389
Took a walk around Hassalo on Eighth today. The landscaping is bedding in really well. One day, when the redevelopment of the AAT campus is complete, NE 8th will be a really great street to walk along.





















__________________
"Maybe to an architect, they might look suspicious, but to me, they just look like rocks"

www.twitter.com/maccoinnich

Last edited by maccoinnich; Dec 5, 2016 at 8:42 PM.
Reply With Quote
     
     
  #512  
Old Posted Dec 5, 2016, 2:48 AM
Derek Derek is online now
Registered User
 
Join Date: Aug 2006
Location: Portland, OR
Posts: 9,540
It looks like LBB is finally getting close to opening.
__________________
Portlandia
Reply With Quote
     
     
  #513  
Old Posted Dec 5, 2016, 8:27 PM
MNTimberjack MNTimberjack is offline
Registered User
 
Join Date: Sep 2016
Posts: 65
Quote:
Originally Posted by Derek View Post
It looks like LBB is finally getting close to opening.
They were also putting up a sign for Garden Bar today. There has been a little activity in the space for Heart Pizza as well.
Reply With Quote
     
     
  #514  
Old Posted Jun 13, 2017, 4:50 AM
maccoinnich maccoinnich is online now
Moderator
 
Join Date: Jan 2009
Location: Portland
Posts: 7,389
GBD Architects have submitted alterations to the Elwood for Type II Design Review:

Quote:
Additional retail enterances and exterior canopies to support retail leasing.
I guess this will help lease the remaining spaces (the building was originally designed for a single grocery tenant).
__________________
"Maybe to an architect, they might look suspicious, but to me, they just look like rocks"

www.twitter.com/maccoinnich
Reply With Quote
     
     
  #515  
Old Posted Jul 14, 2017, 3:26 PM
johnliu johnliu is offline
Registered User
 
Join Date: Jul 2017
Posts: 197
I was curious how this development is performing. Took a look at AAT's financial reports.

4Q16 (Feb 2017 report): Hassalo was 88% occupied, leasing was slower than plan and rents were lower than plan. Lowered guidance for 2017 occupancy to 92.8% from 95.0%, lowered expected base rental rate to $2.48 from $2.55. "We have seen some softening in the fourth quarter. 4Q started at a slower pace overall, both at Hassalo and in the general Portland multifamily marketplace, primarily due to seasonal weather changes earlier than anticipated." In 1Q through mid-Feb, leasing was picking up.

1Q17 (May 2017 report): Hassalo was 92.4% occupied. "Portland continues to have one of the lowest unemployment rates in the country and has been one of the hottest residential markets in the nation. However, the growing new inventory in the market, apartment owners have begun providing heavy concessions to attract and fill their new developments as rent growth is slowing. Fortunately our concessions have remained considerably less than the market."

What other information do we collectively have about the state of the apartment rental and development market in Portland right now?
Reply With Quote
     
     
End
 
 
Reply

Go Back   SkyscraperPage Forum > Regional Sections > United States > Pacific West > Portland > Downtown & City of Portland
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 7:16 AM.

     
SkyscraperPage.com - Archive - Privacy Statement - Top

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.