HomeDiagramsDatabaseMapsForum
     

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

Reply

 
Thread Tools Display Modes
     
     
  #1  
Old Posted Dec 3, 2018, 7:47 PM
MarkDaMan's Avatar
MarkDaMan MarkDaMan is offline
Moderator
 
Join Date: May 2005
Location: Portland
Posts: 6,893
Sturgeon Development Partners - Tower | x feet | x floors | ?

Breaking from Portland Business Journal (subscription required for full access)
https://www.bizjournals.com/portland...340&j=85329851

Quote:
Vanessa Sturgeon and partners planning a $285M tower in Portland
By Jon Bell – Staff Reporter, Portland Business Journal
9 minutes ago

The next projects from Vanessa Sturgeon and her development partners could be a $285 million mixed-use tower in Portland and a $43 million hotel in Salem.

The projects could come about as a result of a $330 million Opportunity Zone Fund that Sturgeon Development Partners, which includes Sturgeon, Nick Fritel and Robert Pile, launched today.

Sturgeon said she was not able to disclose the location of the would-be tower in Portland, but the site is currently occupied by vacant and dilapidated buildings. The Salem project would renovate a derelict parking structure at 195 Commercial St. SE.
...(continues)
__________________
make paradise, tear up a parking lot

Last edited by MarkDaMan; Dec 4, 2018 at 3:28 AM.
Reply With Quote
     
     
  #2  
Old Posted Dec 3, 2018, 10:37 PM
ORNative ORNative is offline
Registered User
 
Join Date: Aug 2014
Posts: 213
That is interesting, very interesting. I was wondering when TMT would throw their hat back into the ring. Of course, after the Park Avenue issues in financing during the recession I wasn't too surprised that they had laid low. Another Portland tower would be great, but what really shocked me was a Salem hotel valued at $43 million. I am in Salem and I expect you could buy about four downtown blocks with existing buildings for that much money. I am curious to see what they could possibly be considering. Heathman sold for 64million and Governor sold for 20million in downtown Portland 4 and 6 years ago. Hmmmmmmm
Reply With Quote
     
     
  #3  
Old Posted Dec 3, 2018, 11:50 PM
tworivers's Avatar
tworivers tworivers is offline
Registered User
 
Join Date: Feb 2006
Location: Portland/Cascadia
Posts: 2,508
Currently occupied by "vacant and dilapidated buildings"... hmmm...
Reply With Quote
     
     
  #4  
Old Posted Dec 4, 2018, 3:26 AM
QAtheSky QAtheSky is online now
Registered User
 
Join Date: Dec 2014
Posts: 91
Quote:
Originally Posted by tworivers View Post
Currently occupied by "vacant and dilapidated buildings"... hmmm...
The 4W (419 SW Washington) site immediately springs to mind, but is a half (3 quarters?) block development going to run up a $285 Million tab?

Nothing quite matches the profile of "vacant and dilapidated" near the Amazon buildings, but if I was building a speculative tower with Office space that is who I'd be targeting as a prospective tenant in 2 years.
Reply With Quote
     
     
  #5  
Old Posted Dec 4, 2018, 3:34 AM
MarkDaMan's Avatar
MarkDaMan MarkDaMan is offline
Moderator
 
Join Date: May 2005
Location: Portland
Posts: 6,893
Just a note, I updated the thread title from TMT Development to Sturgeon Development Partners. Website: http://sturgeondp.com/
__________________
make paradise, tear up a parking lot
Reply With Quote
     
     
  #6  
Old Posted Dec 4, 2018, 3:35 AM
tworivers's Avatar
tworivers tworivers is offline
Registered User
 
Join Date: Feb 2006
Location: Portland/Cascadia
Posts: 2,508
Quote:
Originally Posted by QAtheSky View Post
The 4W (419 SW Washington) site immediately springs to mind, but is a half (3 quarters?) block development going to run up a $285 Million tab?
That's exactly what I was thinking.

Regarding the $285 million, I could see a "Moyer Tower" being the new tallest -- good block for it, too.
Reply With Quote
     
     
  #7  
Old Posted Dec 4, 2018, 4:11 AM
AdamUrbanist AdamUrbanist is offline
Registered User
 
Join Date: Aug 2015
Location: Portland, OR
Posts: 84
15,000 SF floor plate X 35 stories X 500/SF development cost = 263M

Definitely an ambitious project. And not sure how you get to 25:1 (or so) FAR.
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 3:15 AM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2018, vBulletin Solutions, Inc.