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The dream of Ralph B. Lloyd to transform the Lloyd District into a second city center is well on its way to coming true, according to developer Wade Lange. That’s what he told about 80 guests last week at an event at the Hotel Eastlund sponsored by Commercial Real Estate Women Portland.

Lange, vice president and Portland regional manager of American Assets Trust, said Lloyd died before his dream could come true, but his descendants continued to foster development.

鈥淩alph died before he could see it, but his daughters carried on,鈥� he said. 鈥淭he Lloyd District had a bad reputation, but now it’s the safest district in the city.鈥�

American Assets Trust is tackling many Lloyd District developments. One is Hassalo on Eighth, which includes a 21-story tower with 337 apartments, a six-story building with 143 apartments and a five-story building with 143 apartments, all with retail space on the ground floor. A grand opening is planned in September.

鈥淲e have 1,000 people who live in the Lloyd District and our developments would double that,鈥� Lange said.

He also mentioned other future or in-progress developments in the district. For instance, the headquarters hotel 鈥� a 600-room Hyatt Regency to serve the Oregon Convention Center 鈥� is on tap to go up near the Hotel Eastlund.

Lange also said a California company is planning to start construction in about a year and a half on a 900-unit market-rate apartment building next to the Lloyd Center shopping mall, which is receiving improvements.

鈥淐ypress Equity (officials) purchased the mall about a year ago and said they would put $50 million into the property.

鈥淭he Lloyd District used to be called 鈥榯he Lloyd void.’ But that’s not the case anymore and we are seeing the results of foundations raised many years ago.鈥�

Also at the CREW event, Alan Battersby, owner of the Hotel Eastlund, said transportation development has helped the district, even though many observers had doubts.

鈥淭he south end wasn’t getting the traffic, but I’m guessing in the end we were right,鈥� he said. 鈥淭his is a building no one wanted. But with mass transit we can see how it will benefit the community.鈥�

The four-star hotel, formerly a Red Lion, recently opened and is taking reservations, he said. Rebuilding was a big job, he said, and included extensive removal of hazardous materials such as lead paint, mold and asbestos. The hotel was given a completely new design.

Battersby, as he spoke, pointed out the glass walls overlooking the city from the hotel’s sixth-floor conference room.

鈥淭he windows on the sixth floor were once corridors and you couldn’t see out,鈥� he said. 鈥淎nd the restaurant terrace was terrible. They built the bar to block off all views to the south. Now it may be the finest space to dine in Portland.鈥�

Battersby gave a tour of some of the hotel rooms and the restaurant 鈥� the Alta Bira City Tavern 鈥� where staffers were busy polishing their skills and getting everything ready.

Now the walls of the restaurant, which opens this week, are all made of glass. The adjoining outdoor area can seat more than 100 diners at tables and on sofas around fire pits.

Battersby said the hotel market in Portland is hot and will continue to be so for some time to come.

鈥淢any hotels have sold in the last 18 months and will continue for the next 18 months,鈥� he said. 鈥淲hen I came here in 2008 Portland wasn’t even considered a primary city on the West Coast. Now these same Fortune 500 companies think it is. Things are changing rapidly.鈥�

According to the Lloyd District Community Association website at www.lloyddistrict.org/hist.asp, when the Lloyd Center opened in 1960, it was the largest shopping center in the country and gave the district its first big boost for future development.

Although Lloyd died in 1953, his four daughters and their families carried out his dream, the site states.