937 Condominiums

937 Condominiums  The 937 Condominiums is based on fractal geometry, the idea of similarly shaped elements repeating throughout a visual landscape. It's seen in nature, in elements like ponds and ferns - where bubbles and fronds are repeated, smaller and irregularly, inside the shape of the whole - and in the condominium design, it takes shape as an imperfect pattern of windows and solid space.

The mixed-use, 16-story tower occupies the half-block site at NW Glisan Street between NW Ninth Avenue and NW 10th Avenue, replacing an existing commercial retail building. Retail space is on the ground floor, with two levels of parking below and 114 condominium units above. The building stands 170 feet tall, and have a floor-area-ratio of 9-to-1.

The retail level is glass and pre-cast concrete, meant to give the impression of massive display boxes marching down the street. The geometry of the upper levels is carried out in wheat-colored stack-bonded brick, glass, steel and rain screen stucco. The building's balconies, enclosed in wine-colored glass, are stacked in vertical rows of various heights. 

John Holmes and the team at Holst Architecture created the 937 design, with Ankrom Moisan adding detailing and acting as the architect of record. Holmes and Mack Selberg worked together at Holst for four years, and Mack said joining forces was a natural.

The building is tracking for a "no-sweat" LEED Silver rating but Gold is within reach - maybe even Platinum.  A 300 square foot eco-roof covers the podium helping with storm water retention and filtration.

 Sales Update:  February, 2009

The building is completed and 25% of the units have been sold.

Location  The 937 Condominiums is located at NW Glisan Street between Ninth and 10th Avenues.
Developer  W&K Development.  W&K also developed the Thurman Street Lofts in Northwest Portland.
Construction Type  A new building.
Number of Units  Sixteen stories and 114 living units. 
Style  Contemporary.
Green  The target of the design is a Gold LEED from the U.S. Green Building Council's Leadership in Energy and Environmental Design.
Pricing  $300,000 to $2.2 million.
Parking  Underground.
Square Foot Price  $400.
Sales Office  937 NW Glisan Street, Portland OR 97209.  Telephone 503.248.9371.
Completion Date  The building was completed in 2008.

Pearl District Condos Currently for Sale  Pearl District Condos.

The Encore

The Encore  Hoyt Street Properties announced in early 2006 that it is going ahead with its latest project between Northwest Ninth and 10th avenues north of Overton Street - a 15-story condo project called the Encore - designed by Boora Architects.

The June 15th edition of the Daily Journal of Commerce report this information about the Encore: The 175-foot building will be a gateway development from the existing Pearl to what's expected to rise in the next decade, said John Spencer, a planning and urban design consultant who worked on the master plan.  "One of the big concepts" in the master plan, Spencer said, are "buildings that have thin towers facing north with a lot of emphasis on glass and transparency and views of the river, and the parts that face back toward the Pearl District would be designed to be more contextual with the built neighborhood."

It will be the first structure in the Pearl to be built in a semicircle on one face.  It will be "the first project with eyes on the park," referring to a to-be-designed city-owned park between Northwest 10th and 11th avenues and Overton and Pettygrove streets.

 Sales Update:  June of 2008

It is estimated that about 25 units have been sold.

Location  Between NW 9th and 10th Avenue and north of NW Overton Street.  The 16-story building rises next to land that will become the Pearl's largest park.  The Encore is on the Portland Streetcar line.  See map of downtown - PDF format.
Developer  Hoyt Realty Properties. Other projects that Hoyt Realty Group has done include Bridgeport Condos, The Lexis, Park Place Condos, The Pinnacle, Streetcar Lofts, and Tanner Place.
Construction Type  New building.  Construction will begin in August 2006.
Number of Units  The Encore will be a 15-story building that is the first structure in the Pearl to be built in a semicircle on one face.  Their will be 177 units to include lofts, one and two bedroom, townhomes, and penthouses. 
Style  Traditional.
Green  To be announced.
Pricing  Pricing is moderate and less than the Metropolitan.
Square Foot Price   Most likely in the $400 plus.
Parking  To be announced.
Sales Office  Hoyt Realty Group, 1130 NW 10th Avenue, Portland, Oregon.  Telephone: (503) 227-2000.  Showroom and sales office open daily 10-6 Monday-Friday, 11-5 Saturday and Sunday.
Reservations  Subscribe by clicking here.
Completion  Construction started in the summer of 2006 and completed in fall 2008.

Park Avenue West

Park Avenue West, nicknamed PAW, is a high-rise building that started construction in the spring of 2008. When completed it will stand at a height of 515 feet and become the third tallest building in Portland behind the Wells Fargo Center and the US Bancorp Tower.

Park Avenue West is scheduled to be completed in 2010 and is being developed by Tom Moyer (TMT Development). The tower will have a total of 32 floors and offer retail space, office space and 85 housing units.  The plans call for the top 12 floors to be condos. It will also have a five floor underground garage with 315 parking spaces. The roofline will be at 476 feet, but the building will have two twin spires at the top, which put the building at a height of 515 feet. The twin spires are expected to be lit up at night.

According to the plans, the parking garage will connect to the parking garage under Park Block 5 (adjacent on the south side), which also connects to the Fox Tower.

The new Simon and Helen Director Park is located just east of the Park Avenue West Tower (South Park Block 5).  Phase 2 construction begun in 2008.  A second restroom has been added to the cafe building design because of the projected number of cafe patrons. The second restroom will open to the interior and is anticipated to serve cafe activities. The building will extend 3.5 more feet to the north, but views from the corner into the park have been preserved. The cafe leasing process resulted in the selection of Dwayne Beliakoff who will open a cafe, named Viola after the stringed instrument, in April 2009.

 December 2009:  Park Avenue West Construction May Resume

Tom Moyer, one of Portland's most successful real estate developers, halted work on April 13, 2009 on Park Avenue West.  Park Avenue West is anchored on prime downtown land. The building, originally scheduled to open in 2011, already was more than half leased by a law firm and a Nike store. TMT Development said that construction financing could not be found. Lenders have tightened their requirements on loans and cut the amount of debt that borrowers can incur. In past years, lenders would allow developers like Moyer to borrow up to 75 percent of a property's value. Now, it's 45 percent. 

Construction was supposed to resume in early 2010 on Park Avenue West. But in December, 2009, it remains unclear if owner TMT Development can secure the financing it needs to complete the $150 million project at Southwest Park Avenue and Yamhill Street.

Location    431 S.W. 12th Avenue − SW Park Avenue and SW Yamhill Street.  See map of downtown - PDF format.
Developer  Tom Moyer and TMT Development Company.  It falls just a few blocks from Moyer's previous downtown tower, the Fox Tower and the 1000 Broadway building.
Construction Type  New construction.
Green  They are shooting for a LEED designation.
Number of Units  85 condominiums on 12 floors. 
Style  Unknown.
Prices  Unknown.
HOA Fees  To be announced later.
Parking  Parking spaced available.
Sales Office  Unknown.
Reservations  Unknown.
Completion Date  Park Avenue West was scheduled to be completed in 2011 but the suspension in 2009 will mean the building will be completed later.

Downtown Condos Currently for Sale  Downtown Condos.

The Sheldon:  Cooperative Housing

Green Light Cooperative announced in early September 2009 that they are in the process of building a 50 unit cooperative housing unit for seniors in Northwest Portland.

The Sheldon will be a limited equity age 55+ housing cooperative that is member owned and controlled. The project will be financed through membership equity shares and, most likely, a HUD insured mortgage held by the cooperative corporation and secured by the building and land. Cooperatives represent a fresh option for active adults 55 or older. Housing Co-ops focus on the preservation of assets as well as maintenance of community and personal control and allow residents to own a share of the building in which they live. Unlike an apartment or Continuing Care Retirement Communities, the entire asset is controlled and owned by those who live in it.

The Sheldon will offer 1, 2, and 3 bedroom homes on six floors.  A large part of the lower floor will be a commons area to include a wellness center, library, and lounge. The commons area will also include a garden and terrace. The lower level will have 54 underground parking spaces along with space for storing bicycles. There is also an area on the ground floor set aside for a restaurant.

The building is named after Bing Sheldon, the chairman and founder of SERA Architects.  SERA is designing the building. Bing has led the charge for the development and construction of Oregon’s first senior cooperative housing project where he intends to reside with his wife Carolyn.

 Oregon's First Limited Equity Co-op

The Sheldon will be the first limited equity co-op in Oregon.  In a limited equity cooperative, the individual does not need a mortgage for their unit. Individual share purchase prices are usually very low. Co-op share ownership entitles one to a long-term lease on a unit and a vote in corporate governance. The individual is both a "tenant" because of their lease with the corporation, and an "owner", because of their stock ownership and participation in group governance. The co-op members elect a Board of Directors who make most decisions about the co-op.

In a co-op, residents are never evicted unless they violate their lease. Many members stay for decades. When residents leave they sell their share(s) of stock and not their unit, as condominium owners would. In a limited equity cooperative, the value one can obtain for one's stock at sale is restricted by a specific formula, to make the housing affordable for current and future residents. Limited equity co-ops are non-speculative homeownership.

Location    In the Northwest District neighborhood. Green Light Cooperative has an option to purchase a parcel of land at NW 19th Avenue between NW Lovejoy and NW Kearny.  See map of downtown.
Developer  Green Light Cooperative.  The partners are Mark Desbrow and Noel Johnson.
Construction Type  New construction.
Green  They are aiming for a LEED designation.
Number of Units  50 condominiums on six floors. Common space includes a wellness center, library, lounge, terrace, and gardens.
Style   The Sheldon will have 1, 2, and 3 bedroom homes available.  Storage space will be available for each unit in the lower level of the building.
Prices  To be determined.
Monthly Fees  Monthly homeowner dues, which are proportionate, will be used by the co-op to pay the common mortgage, property taxes, operating expenses and reserves kept for future building operations and repairs.
Parking  Underground parking spaced available.
Sales Office  Telephone 503-928-7473.
Reservations  The Green Light Cooperative started taking reservations on September 21, 2009. Call 503-928-7473 for details.
Completion Date  The Sheldon is scheduled to be completed in 2012.

Downtown Condos Currently for Sale  Downtown Condos.

Maps of Downtown Portland

• Downtown Buildings and Projects  Map showing the location of major buildings, condos, projects under construction, and planned projects as of August 2005

• Public Transportation in Downtown  Map showing the MAX light rail route, streetcar route, and bus routes in the downtown area.