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  #221  
Old Posted Nov 8, 2007, 10:43 AM
joeplayer1989 joeplayer1989 is offline
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hells yes we need water taxis. why stop there why not all the way down to wilsonville, lol is that even possible? WELL Vancouver is. on second thought those places suck ptown is allways the way to go! but van be growing it would be cool to travel all that way, I bet its faster during rush hour...im afraid the interstate 5 bridge is going to collapse soon, its so crappy, thank god for this new plans. Does anybody know if jantzen beach is going down and if there building a new mall or something?
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  #222  
Old Posted Nov 8, 2007, 3:40 PM
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^Jantzen Beach is going to be turned into a big box strip mall, ala Cascade Station...
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  #223  
Old Posted Nov 8, 2007, 3:41 PM
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Apartments rising in South Waterfront
Rentals are hot, condos are not, as market demands shift
Thursday, November 08, 2007
RYAN FRANK
The Oregonian

South Waterfront, Portland's new riverfront neighborhood, started rising when condos got crazy and Oregon Health & Science University craved more space. Five condo towers and one medical research building sprouted in the past four years.

South Waterfront's second generation will look quite different.

With condo sales cool, developers sidelined two projects. A third will be built instead as apartments.

Developers now have designs on that apartment building and five others within a few blocks as apartments become the fastest-growing segment of the downtown housing market. OHSU, which is constrained by tight finances, sold one of its lots to make way for senior housing and has no immediate plans to build on its neighboring property.

Developers' flip to apartments and senior housing provide a window into Portland's shifting downtown housing market. Developers and investors see a condo oversupply, a new urban lifestyle for seniors and, apparently, near boundless demand for high-rise, high-rent apartments. Top-of-the-line apartments will run more than $3,000 a month.

The condo and apartment markets are well-known for boom-then-bust cycles, and it's possible that some planned projects may not happen. But for now, the rush to build is on.

Prometheus Real Estate Group Inc., a Bay Area apartment builder, plans two South Waterfront towers to cash in on what it sees as Portland's popularity with newcomers.

Jon Moss, a senior vice president, chalks it up to the often repeated line about Portland's quality of life.

"As a result, you see more companies move there, creating more jobs," says Moss, whose company makes a practice of holding its apartment properties for decades. "We're bullish in the long term."

Downtown housing in flux

Downtown Portland hasn't always been so popular.

In the post World War II race to the suburbs, Portland's downtown -- like so many across America -- emptied. For decades, Portland saw only a handful of housing towers jut into the skyline. That changed with the Pearl District in the 1990s and, more recently, South Waterfront.

The Pearl saw condos go up first, proving there's demand for downtown living. Those were followed by apartments that provided more housing options. It's the natural evolution for a downtown neighborhood, says Robert Black, associate vice president at Norris Beggs & Simpson.

But with condos slow and apartments hot, the rental supply downtown is tight and rents are rising. So, apartments are the new condo in Portland's skyline.

In South Waterfront, apartment builders see a captive market driven by their neighbor and Portland's largest employer, OHSU.

Even with high rents, they expect students, interns, nurses and visiting professors will help fill the roughly 1,800 apartments in the plans. Outside the university, Black says high-rise renters may be people who just want to try out urban life, or well-paid contract workers for big businesses, such as Nike or Columbia Sportswear. "That's a pretty deep market," Black said. "It's surprising how deep it is."

Tall plans Four of South Waterfront's planned apartments would rise above 20 stories.

The first will be Trammell Crow Residential's 22-story luxury tower. The Alexan, now under construction, is designed to look just like the neighboring condos from the outside.

"Now, the floodgates are open," said Michael W. Cline, a principal at Portland's Ankrom Moisan Associated Architects, which is designing four South Waterfront apartment projects.

At his Southwest Portland office, Cline stood before a wall plastered with Ankrom's South Waterfront designs. Asked about the district's future, Cline pumps his fists and says: "Apartments. Apartments. Apartments."

Just south of the Alexan, Trammell Crow plans to start another 22-story apartment in fall 2008.

Just east of that, Prometheus plans an even earlier start next spring on a 250-foot tall apartment.

Just south of that, Prometheus plans another apartment tower -- maybe as tall as 325 feet -- in early 2009.

All the while, property right next to the river -- land coveted for high-priced condos -- will sit untouched once the tony Atwater Place is finished.

High-rise construction is expensive and also brings high rents.

The apartments will run about $2.20 or $2.25 per square foot.

That means a typical 700-square-foot one bedroom would run about $1,500 a month. A three-bedroom, top-floor apartment would be more than $3,000.

In addition to the high rises, two shorter apartment projects are in the works.

Simpson Housing of Denver plans a six-story project. Ankrom Moisan had drawn up plans for a 20-story condo project on the site, known as Block 46, before the market cooled. Just south of that, the city and developer Homer Williams are working on a low-income project targeted for veterans.

On OHSU land, Pacific Retirement Services will start work in March on a 30-story senior housing tower, called the Mirabella. The Medford nonprofit is betting that downsizing baby boomers will prefer active city life over secluded suburban assisted-living centers.

"It's a new way to look at the next chapters of life," said Paul Riepma, the company's vice president of marketing.

So far, it seems to be selling. Riepma says people have reserved more than one-third of their 224 units since they started taking orders in September.

Next door, OHSU has not decided what year it will start its next South Waterfront building.

Ryan Frank: 503-221-8519; ryanfrank@news.oregonian.com; blog.oregonlive.com/frontporch.
http://www.oregonlive.com/business/o...420.xml&coll=7
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  #224  
Old Posted Nov 8, 2007, 5:26 PM
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Quote:
Originally Posted by MarkDaMan View Post
^Jantzen Beach is going to be turned into a big box strip mall, ala Cascade Station...
Jantzen Beach is already a big box strip mall. They used to call them "power centers" back in the '90's.
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  #225  
Old Posted Nov 8, 2007, 6:49 PM
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Let's just hope the Cline vision of "Apartments, Apartments, Apartments" is Wrong, Wrong, Wrong!
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  #226  
Old Posted Nov 8, 2007, 6:56 PM
PacificNW PacificNW is offline
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↑ Why, Why, Why?
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  #227  
Old Posted Nov 8, 2007, 7:18 PM
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↑ As a condo owner, not looking forward to a large amount of apartments being built in the community. Renters "tend" to not have the same sense of respect to an area as do owners (my opinion).
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  #228  
Old Posted Nov 8, 2007, 7:34 PM
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↑ I would think that many of these apartment towers being proposed could be converted to condo's once the market improves. In addition, the rents appear to be on the high end so I doubt if they will attract "trailer park" trash.. ⬇⬇

Last edited by PacificNW; Nov 8, 2007 at 8:58 PM.
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  #229  
Old Posted Nov 8, 2007, 8:30 PM
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↑ As a condo owner, not looking forward to a large amount of apartments being built in the community. Renters "tend" to not have the same sense of respect to an area as do owners (my opinion).
I can see your point. I think the rents will be pretty high in sowa tho, so i think that will scare away/exclude those renters you speak of.
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  #230  
Old Posted Nov 8, 2007, 9:25 PM
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The NW district isn't trashed because of 'renters' who don't care. It's not like these are suburban apartment complexes built in the 70s either.

Quote:
Originally Posted by 65Max
Jantzen Beach is already a big box strip mall. They used to call them "power centers" back in the '90's.
But Jantzen still has the mall component too. Most of the complex, including the hotel across the street, is going to be torn down and rebuilt like Cedar Hills crossing or Cascade Station. A crappy assed strip mall welcoming people to Oregon...aye...
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  #231  
Old Posted Nov 8, 2007, 10:42 PM
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^^^^
I didn't know they were redoing Jantzen Beach again. Have you seen any plans for this? Are they including some residential component? Could be a popular place to live if they'd just add some more housing (that doesn't float).
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  #232  
Old Posted Nov 8, 2007, 10:55 PM
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Seriously, you'd think that old Red Lion hotel (I'm assuming that's the one being torn down?), would be a prime spot for either a new hotel, or condos/apts. with the riverfront location. I can't believe that property's turning into more chain stores, although maybe the hotel site will be built differently. Like you said, Mark, would be nice to have something attractive at the 1-5 gateway to Oregon (and not a Sports Authority or T-Mobile store).
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  #233  
Old Posted Nov 9, 2007, 12:06 AM
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^that is actually where a developer wants to put a WalMart and why Sam Adams pushed through a temporary building moratorium on the island citing traffic issues.

Quote:
Originally Posted by 65MAX
Have you seen any plans for this? Are they including some residential component?
I have but don't have time to locate the renderings and site map as I'm heading out for the nice long weekend. YAHOOO! There was no housing included...anyway, here's something I found online quickly from August 30 of this year.

Jantzen Beach slated for major demolition, upgrade

Rumors of change to the indoor mall at Jantzen Beach SuperCenter might finally move beyond speculation now that a Portland commercial real estate firm is shopping around a reconfigured retail center. The plans being marketed by Commercial Realty Advisors NW LLC call for demolishing the old, indoor section of the mall and rebuilding stand-alone stores that resemble the kind of shopping found on the center's west end. For more, see Friday's Columbian.
http://www.columbian.com/business/bu...th=8&year=2007
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  #234  
Old Posted Nov 9, 2007, 12:09 AM
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I know there is an effort to save, purchase and relocate the carousel...
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  #235  
Old Posted Nov 9, 2007, 7:48 AM
joeplayer1989 joeplayer1989 is offline
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I know there is an effort to save, purchase and relocate the carousel...
the only thing worth saving on that whole island i think.....

WHY not put a frys electronics there if there sticking to big box garbage and not another depressing wal-mart
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  #236  
Old Posted Nov 9, 2007, 4:51 PM
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^^There was a rumor a couple of years ago that Fry's was going in a little further south at Delta Park (in the area by Joe's and Lowe's).

Anyone know if that is still in the works?
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  #237  
Old Posted Nov 11, 2007, 7:45 AM
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Atwater
Some workers at the Atwater thought that some people might start moving in this coming Monday. It is still fairly dirty on site due to construction. The first level units on north side have carpet appliances with paper masking down where work has been done.

Alexan
The Alexan is moving along at a slow pace.

Mirabella
Mirabella site unchanged. trees stored and office on site with green covering added to the chain link fence.

Umpqua Bank
Ask the Umpqua bank employees if you can play the Wii baseball game on the product display. I walked into the bank to talk to them since I saw that. I couldn't resist. The screen was pretty big. They mentioned that possibly a Trader Joes might go in. I told them that I thought a New Seasons somewhere in the Southwest neighborhood would be nice, though I don't know if they can afford to be located in that area.
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  #238  
Old Posted Nov 12, 2007, 10:03 PM
zilfondel zilfondel is offline
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I passed by the Atwater yesterday and there were some families having dinner in one of the lower townhouse units.

Trader Joes would be awesome!
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  #239  
Old Posted Nov 12, 2007, 11:16 PM
joeplayer1989 joeplayer1989 is offline
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I passed by the Atwater yesterday and there were some families having dinner in one of the lower townhouse units.

Trader Joes would be awesome!
cozy
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  #240  
Old Posted Nov 16, 2007, 11:36 PM
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I passed by the Atwater yesterday and there were some families having dinner in one of the lower townhouse units.
Did you stare at them?

I would have.
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