THE PORTLAND METRO'S BIG BOOM - 3 REAL ESTATE DEVELOPMENTS TRANSFORMING THE SUBURBAN LANDSCAPE
As much as is heard about Portland's high-profile investments and developments, action continues behind the scenes in the suburbs. The developmental trends seen in Portland proper have spread in recent times as far outas Hillsboro on the west side, Gresham on the east, Vancouver WA north across the river, Wilsonville to the south, and beyond. Attractive qualities of Portland's suburbs include low unemployment rates, red-hot home values, high median household incomes, a high percentage of college-educated residents, low poverty rates, and good population densities, especially in the suburbs' cores. With so much development and activation of Portland's surrounding areas, it's no wonder that these regions look vastly different than they might have just a couple of decades ago. With more and more families and skilled labor continuing their influx into theMetro area, the suburbs are an important supporting part of Portland proper, providing a plethora of green spaces, housing options, and hosting some of the region's largest brand corporate headquarters for tech, apparel, athletics and more.
Here are some of the most notable recent projects that Real Estate Investment group has been part of in the greater Metro area:
THE WATERFRONT VANCOUVER
Developer: Columbia Waterfront LLC - Gramor Development, Inc
At the forefront of Vancouver's [literal] south face, The Waterfront Vancouver is a $1.5 billion, 32 acre urban development set to occupy 20 city blocks along the Washingtonside of the Columbia River. The development, when complete, will deliver 3,300 market-rate apartments, 1.25 million SF of Class A office space, flagship restaurants, aworld-class hotel, art installations, and multiple parks and green spaces along the river, all centering on the Grant Street Pier at the forefront of the development, conceived by renowned public art designer LarryKirkland. The Waterfront Vancouver is a public/private collaboration between the City of Vancouver and the project's private developer entities, and will provide the city and the region with a dynamic reconnection to the Columbia River waterfront.
As of 2018, Phase I is well underway and will deliver 40,000 SF of restaurant space with 5-6 signature restaurants, 45,000 SF of ground-floor retail, 270 apartmentunits, a the 138-key Hotel Indigo complete with 40 luxury condominiums, and the Waterfront Park, a 1/2 mile riverfront masterpiece of artistic urban planning and inviting green space. Tenants set to open in 2018 during Phase I development include WildFin American Grill flagship restaurant in the Grant Street Pier restaurant space, Twigs Bistro and Martini Bar, Barlow Public House, Chicago Title, MJ Murdock Charitable Trust, Fidelity National Title Company and the McKean Smith law firm.
A boon for the city of Vancouver, the greater Portland area, and the state of Washington, this new urban neighborhood is expected to bring tourism increases, more than 10,000 jobs and $385 million in state and local taxes over the next twenty years to the region's economy.
George Diamond of Real Estate Investment Group is proud to have brokered city blocks in the Waterfront Vancouver development for sale and lease as part of ownership interest in the project.
View live construction cam here. THE GRAND COVE - OREGON CITY
1937 Main St, Oregon City OR
Developer: Clackamette Cove LLC
The original historic capital of the Oregon Territory, Oregon City sits nestled along the banks of the Willamette River winding southof Portland into Clackamas County. Boasting a revitalized historic downtown district, Oregon City is a top destination not only for locals but also those looking to settle in the Portland area or purchase real estate.
TheGrand Cove is a multi-phase project set to deliver 622 residential units along with retail space, public plazas and restaurants. The area is called the Clackamas Cove, where the Willamette -from the North- and Clackamas - from the East - rivers meet.
Phase I is called Edgewater at the Cove, and will deliver 244 garden apartments. This phase is under construction as of 2018. Grand Peaks, based in Denver, Colorado, is behind Phase I of the Grand Cove development.
Real Estate Investment Group was integral in brokering the sale of the Phase I development land at The Grand Cove to its developer, Grand Peaks.
ATTWELL OFF MAIN
12790 SW Ash Ave, Tigard OR
Developer: Capstone Greenlight LLC - Diamond Investment Group Tigard LLC
Located to the southwest of Portland, Tigard is a city unto itself and boasts a high population as well as large commercial investment. Tigard's downtown area and MainStreet has undergone a substantial density and pedestrian-friendly revitalization, bringing local businesses, investment and great transit access to the downtown core.
Attwell off Main represents a spectacular $30 million private investment into the downtown Tigard area. Completed in 2017, the project added 165 residential units and 2,000 SF of ground-floor retail to Tigard's Ash Avenue, located right off its charming Main Street. The development contributes a significant density and walkability boost to the downtown core, as well as revitalizing the area immediately south of Main Street. Residents have easy access to the downtown core and the Fanno Creek Greenway natural area. A fully stabilized investment, Attwell off Main has been overwhelmingly well-recieved by its residents and the Tigard market at large. Real Estate Investment Group is proud to have been a part of the development of Attwell off Main.