Park Avenue West | 501' 7" | 30 floors | Completed

[brandonpdx]

I agree with a lot of cab's sentiments. DT is more vibrant than ever from the Pioneer Mall to 10th. The nines hotel has brought a lot of vibrancy and foot traffic & the food cart pods have exploded everywhere. Sure, there are some shuttered store fronts but there really has been for the last 10 years.

[puerco]

I had the opportuntiy to visit my hometown of Portland this past monday. I had a wonderful time & really love all of the changes. The tram, the streetcar & MAX all seemed to be running well and frequently. It was so convenient to hop onto the streetcar & ride from the Waterfront district to NW 23rd. Walked by old haunts in NW & checked out the great landscapes that have popped up around the city. We used to drive around Portland looking for palm trees in landscapes and now they seem to be everywhere! They really speak to the mildness of Portland's climate. My sister & I found a peaceful place by the river near the Union Depot to sit and enjoy the river traffic.
Portlanders, you're doing a wonderful job developing my hometown into a vibrant beautiful city. Thanks so much. Portland's becoming the city I've always wanted it to be. The PAW hole looks a bit sad & I didn't care for Directors Park. But thumbs up to everything else!

[kmlorenz]

Originally Posted by tworivers

I'd like to see PAW go up (jobs, taxes, skyline-filler) but I don't see the hole as *that* much worse than all the surface parking lots and giant parking garages that fill our gutted city.

I also wouldn't mind another park block going in, but 1) it will leave me feeling like losing several historic buildings was not an equal trade-off and 2) I'd hope for something better than Director Park, which is growing off me --rather than on me-- the more I experience it, much to my dismay.

Personally, I believe there were two fatal flaws to this project. First, the inclusion of ultra luxury condos. Anyone with 20/20 vision could see the luxury condo market was being overbuilt. The second fault was removing the condos completely from the project. I have lived downtown on the westside for over 10 years now and can't think of any better location to live than in the true heart of downtown at this location.

I had been eagerly awaiting to hear pricing - which I am sure was going to be way over my head - when the condo deal was completely nixed. Now the project is stagnating, relying completely on leasing deals for big office and retail interests. Instead, I would propose adding the condos back in, but instead of completing fully built luxury units, Moyer should build a bare bones structure (essentially empty units) in which tenants are completely free to design and build their own floorplans, kitchens, and bathrooms. This model is very normal in Germany and I think it could work well here. I also think it could be very exciting to be in a building in which each unit is vastly different and individualized. Similar to an old neighborhood in which all the homes are very different from one another, instead of the more modern subdivisions in which each house is essentially a copy of its neighbor.

[zilfondel]

Interesting idea. Isn't that what they did at milepost 5?

[New Madrid]

Originally Posted by zilfondel

Interesting idea. Isn't that what they did at milepost 5?

Sort of. I think that MP5 basically allowed buyers to choose various levels of buildout. For example: You could get nothing, just a bare space. Or get the kitchen installed. or the kitchen plus a larger counter, etc. I don't believe, though I could very well be wrong, that buyers had much say in finishes, layouts, etc.

I imagine something in this vein occurring at PAW would be a lot more customisable and potentially cost TMT quite a bit more money in the short run. (I think it would be fantastic though...)

[2oh1]

kmlorenz, I think you have an excellent idea in theory, but in this specific situation, I believe it wouldn't work. What you're proposing lends itself to less traditional buildings. Take the old Honeyman Hardware lofts building, for example. I lost track of what was being done with that one, but I could definitely see something creative happening there, where they'd sell blank-slate spaces and have the new owners buy kitchen/bath/laundry appliances, etc. Even though that approach would help to drive down prices, it wouldn't be a good fit for condos in the PAW because most of the people who would consider buying into such a high end building would be turned off by that. Because of the expenses involved with building the PAW, condo prices there would still be out of reach to anyone but the wealthy. I suppose that's just another reason why PAW should never have planned for condos. There's no sense building what there isn't a market for. What Portland really needs is condos under $250,000... but there's no way that's going to happen in a building like PAW.

[Portland Dude]

So what is the latest news on Park Avenue West? Last time I heard, they were deciding if to end the project all together or carry on at some other time in the future.

[crow]

Originally Posted by New Madrid

Sort of. I think that MP5 basically allowed buyers to choose various levels of buildout. For example: You could get nothing, just a bare space. Or get the kitchen installed. or the kitchen plus a larger counter, etc. I don't believe, though I could very well be wrong, that buyers had much say in finishes, layouts, etc.

I imagine something in this vein occurring at PAW would be a lot more customisable and potentially cost TMT quite a bit more money in the short run. (I think it would be fantastic though...)

I have been pushing for "build to suit" residential condos for a long time. It brings the first cost down to the buyers. The bare minimum you would have to do is a toilet and sink in order to get an occupancy permit on a residential property. This would allow a buyer to get a residential loan on a residential property but let the buyers build out incrementally. It might come down to the appraisal as being the fatal flaw - potentially.

[tworivers]

{bump}

[2oh1]

Awe... I was hoping for info on PAW getting restarted. Great shot though! I love Pioneer Square. Especially during the holidays. What an amazing public space.

[tworivers]

I thought it was notable for the hole in the sky.

Also started thinking, idly, what it would be like if PAW was canceled and Nordstrom could be persuaded to tear down their current building and take the first several stories of the new tower that has been discussed for the parking garage block (parking underground, of course). Could be cool to have that big open space if there were minimal trees, esp. if it was designed by someone like Allied Works as a conterpoint/complement to pomo Pioneer Square. Or, if the Nordstrom building could get a radical retrofit for a public market -- that block would be an ideal central, MAX-connected block for the proposed market. Something about Nordstrom having that block, in that building, seems less-than-best-use to me...

[urbanlife]

Originally Posted by tworivers

I thought it was notable for the hole in the sky.

Also started thinking, idly, what it would be like if PAW was canceled and Nordstrom could be persuaded to tear down their current building and take the first several stories of the new tower that has been discussed for the parking garage block (parking underground, of course). Could be cool to have that big open space if there were minimal trees, esp. if it was designed by someone like Allied Works as a conterpoint/complement to pomo Pioneer Square. Or, if the Nordstrom building could get a radical retrofit for a public market -- that block would be an ideal central, MAX-connected block for the proposed market. Something about Nordstrom having that block, in that building, seems less-than-best-use to me...

Speaking of Allied Works, I would love to see a developer in Portland contract them to design a tower in Portland during this next boom...that would definitely be exciting to see...it will be nice to see this hole back under construction again...I am really hoping some time this summer for things to start back up again, but that is just wishful guessing.

[philopdx]

I was browsing the Portland Architecture blog and came across this tidbit:

http://chatterbox.typepad.com/portlandarchitecture/

"He expects TVA to enjoy a "fantastic" 2011. Drawings of TMT Development's Park Avenue West tower were all over Thompson's office. I asked him if the recovering economy meant that TMT would resume work on the stalled downtown Portland building. He would say only that he hopes the Park Avenue West will come to "symbolize" the recovery."

[MarkDaMan]

I wish TMT development had some leaks inside their office. I never hear any rumors about them that has proven to be true.

[tworivers]

Finally! Any idea who the un-named office tenants might be?

Construction to Resume on Park Avenue West
New Seasons to Open First Downtown Location in Redesigned Tower
Published: Wednesday, March 30, 2011, 9:28 PM Updated: Wednesday, March 30, 2011, 11:14 PM
By Julie Sullivan, The Oregonian

TMT Development announced today that Park Avenue West, the downtown tower that has been stalled since April 2009, will resume construction as early as May. Spokeswoman Vanessa Sturgeon said that the two year delay allowed the development team to wait out the floundering economy. She added that the tower will be built to its original dimensions, with 35 floors rising to 515 feet. Ground floor tenants include New Seasons, Adidas, and Japanese retailer Muji.

New Seasons CEO Lisa Sedlar expressed confidence that the local grocery chain's expansion downtown would be highly successful, saying "We have been looking at the possibilities for years. When Niketown pulled out of the project and TMT came calling, we immediately sat down and asked ourselves, 'OK, is this our golden opportunity?', and we decided that it was." Sturgeon also said that several "high profile" tenants had committed to between 20 and 25 floors worth of office space, but that she was unable to name them for several more days due to legal restrictions. The other ten floors will "most likely" be office space.

According to architect Robert Thompson, the tower will be an iconic statement on the Portland skyline. "This project being re-started signifies that the economy is expanding again and that the downturn is finally over." Portland mayor Sam Adams also sounded the same theme in a press release, saying "The fact that Park Avenue West has received financing to continue construction is a huge boost to the economy and a reflection of investors' faith in the long term health of our vibrant downtown area".

[RainDog]

YEEEEEESSSSSSS. It's about fucking time.

[pdxtraveler]

Originally Posted by tworivers

Finally! Any idea who the un-named office tenants might be?

Construction to Resume on Park Avenue West
New Seasons to Open First Downtown Location in Redesigned Tower
Published: Wednesday, March 30, 2011, 9:28 PM Updated: Wednesday, March 30, 2011, 11:14 PM
By Julie Sullivan, The Oregonian

TMT Development announced today that Park Avenue West, the downtown tower that has been stalled since April 2009, will resume construction as early as May. Spokeswoman Vanessa Sturgeon said that the two year delay allowed the development team to wait out the floundering economy. She added that the tower will be built to its original dimensions, with 35 floors rising to 515 feet. Ground floor tenants include New Seasons, Adidas, and Japanese retailer Muji.

New Seasons CEO Lisa Sedlar expressed confidence that the local grocery chain's expansion downtown would be highly successful, saying "We have been looking at the possibilities for years. When Niketown pulled out of the project and TMT came calling, we immediately sat down and asked ourselves, 'OK, is this our golden opportunity?', and we decided that it was." Sturgeon also said that several "high profile" tenants had committed to between 20 and 25 floors worth of office space, but that she was unable to name them for several more days due to legal restrictions. The other ten floors will "most likely" be office space.

According to architect Robert Thompson, the tower will be an iconic statement on the Portland skyline. "This project being re-started signifies that the economy is expanding again and that the downturn is finally over." Portland mayor Sam Adams also sounded the same theme in a press release, saying "The fact that Park Avenue West has received financing to continue construction is a huge boost to the economy and a reflection of investors' faith in the long term health of our vibrant downtown area".

Such great news! I never imagined they would add back in floors!!

[PacificNW]

For real?

[Eco_jt]

Originally Posted by tworivers

Finally! Any idea who the un-named office tenants might be?

Construction to Resume on Park Avenue West
New Seasons to Open First Downtown Location in Redesigned Tower
Published: Wednesday, March 30, 2011, 9:28 PM Updated: Wednesday, March 30, 2011, 11:14 PM
By Julie Sullivan, The Oregonian

TMT Development announced today that Park Avenue West, the downtown tower that has been stalled since April 2009, will resume construction as early as May. Spokeswoman Vanessa Sturgeon said that the two year delay allowed the development team to wait out the floundering economy. She added that the tower will be built to its original dimensions, with 35 floors rising to 515 feet. Ground floor tenants include New Seasons, Adidas, and Japanese retailer Muji.

New Seasons CEO Lisa Sedlar expressed confidence that the local grocery chain's expansion downtown would be highly successful, saying "We have been looking at the possibilities for years. When Niketown pulled out of the project and TMT came calling, we immediately sat down and asked ourselves, 'OK, is this our golden opportunity?', and we decided that it was." Sturgeon also said that several "high profile" tenants had committed to between 20 and 25 floors worth of office space, but that she was unable to name them for several more days due to legal restrictions. The other ten floors will "most likely" be office space.

According to architect Robert Thompson, the tower will be an iconic statement on the Portland skyline. "This project being re-started signifies that the economy is expanding again and that the downturn is finally over." Portland mayor Sam Adams also sounded the same theme in a press release, saying "The fact that Park Avenue West has received financing to continue construction is a huge boost to the economy and a reflection of investors' faith in the long term health of our vibrant downtown area".

I can see that Oregonian wrote this ... but I've searched Google and the Oregonian all over for the actual link for this and can't find it. Is it possible that someone could provide it?

I would think that the other news agencies would have this major news story in their top headlines...but they don't. Anywho...if this is really true, then this is the best news this year =)

[MOPIdaho]

April Fools???