91视频

The Portland Development Commission is moving forward at RiverPlace Parcel 3, and finishing nearly two decades of work to develop the North Macadam urban renewal area.

鈥淲e’re sort of nearing the end of our participation in that area,鈥� said Eric Jacobson, senior project manager for the PDC. 鈥淭his is a key part to making it a complete neighborhood by adding the affordable housing.鈥�

The plan is to construct on RiverPlace Parcel 3, a 2.01-acre site at 2095 S.W. River Parkway, two buildings with a single level (173 spaces) of parking below grade. One building will be six stories with retail and grocery space at the ground level and five levels of apartments (162 units). The second building will be 12 stories with retail, residential amenities, 65 spaces of parking for grocery shoppers and 10 stories of affordable apartments (204 units).

The property has sat vacant for a number of years. The PDC and the Portland Housing Bureau earlier this year selected BRIDGE Housing Corp./Williams & Dame as the development team. The architect will be Ankrom Moisan Architects.

The project’s estimated total cost is $93 million, with at least $19 million coming from urban renewal funds. Stakeholders hope that construction begins by the end of 2016 and finishes within 20 months.

The PDC, the Portland Housing Bureau and the development team have entered into a due diligence and negotiation phase with the goal of reaching a purchase and sale agreement for the property. The intent is to bring the agreement before the PDC’s board by the end of the year.