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Developers seeking to add 1 million additional square feet of apartments to a Northeast Portland superblock have applied for an early assistance meeting with the Portland Bureau of Development Services.

The applicant, San Diego-based American Assets Trust, on Nov. 25 will meet with city officials to discuss plans for development of a four-tower complex on the superblock bordered by Northeast Holladay and Oregon streets and Northeast Seventh and Ninth avenues, slightly south of the Hassalo on Eighth project now under construction, according to BDS spokesman Ross Caron.

鈥淭he four-block redevelopment of what is currently referred to as Oregon Square is now in the initial planning stages,鈥� American Assets Trust CEO John Chamberlain said during a Wednesday morning conference call with investors. 鈥淭he timing of this phase will follow the completion and stabilization of Hassalo on Eighth. Our preliminary estimate is that we’ll be putting shovels in the ground in the third quarter of 2016.鈥�

Currently, the superblock has four office buildings and an open-air plaza.

Plans drawn up by Portland-based GBD Architects and submitted to BDS last month show two 10-story towers, a 20-story tower and a 32-story tower. The four buildings would hold 1,030 market-rate apartments, approximately 36,000 square feet of retail space and about 800 underground parking stalls.

An open plaza in the center of the four buildings would include water features, stormwater and wastewater treatment facilities and pavilions, and be ringed by retail spaces that spill into the plaza, according to a project summary submitted to the BDS.

Chamberlain said the proposed project at Oregon Square is the second phase of 鈥渨hat will likely be several phases to be built out as the market demands and dictates over the years ahead.鈥� The first phase 鈥� the $192 million Hassalo on Eighth 鈥� is 鈥渙n track and on budget,鈥� he said.

Upon completion, scheduled for summer 2015, Hassalo on Eighth will add 1 million square feet of apartments and retail space in one 21-story building, one six-story building and one five-story building. The three buildings combined will hold 657 residential units, 58,000 square feet of retail space and 1,200 underground parking spaces.

As of Wednesday’s conference call, Chamberlain reported that, after 350,000 man-hours of work, the two shorter buildings were roofed and the third had 15 floors finished. Also, the subterranean garage is complete, he said.

Chamberlain expressed confidence on Wednesday that Portland’s multifamily rental market has the capacity to absorb the nearly 1,700 units that American Assets Trust will introduce through these two superblock developments.

鈥淭he apartment occupancies and rent growth for the Lloyd District continue to tighten, as does the greater Portland Metropolitan Statistical Area,鈥� he said. 鈥淰acancy of 1.2 percent in the East Portland submarket as of the end of the third quarter is the lowest in the Portland M.S.A.鈥�

In addition to Hassalo on Eighth and the proposed superblock redevelopment, American Assets Trust owns six city blocks directly north of Multnomah Street between Seventh and Ninth avenues.

In 2011, American Assets Trust purchased its entire 16-acre portfolio of Lloyd District property for $92 million, according to company records. The portfolio extends south from Northeast Halsey Street to Oregon Street, between Seventh and Ninth avenues, according to Rick Williams, executive director of Go Lloyd.

Information on the American Assets Trust website indicates that its Lloyd District portfolio 鈥渉as been designated for additional development rights to include a high-density, transit-oriented, mixed-use urban village, anticipated to be in excess of 1.5 (million) square feet.鈥�

Calls to Wade Lange, vice president and regional manager of American Assets Trust’s Portland office were not returned by press time.