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Urban Renaissance Group and Security Properties have closed on their $20 million purchase of the Press Blocks properties in Goose Hollow from Advance Publications.

Advance, the parent company of The Oregonian, unloaded the properties to make way for a pair of major mixed-use projects. Cushman & Wakefield represented the seller.

The proposed development would include a 22-story residential building that would reach 250 feet in height, an eight-story office tower and a 41,000-square-foot pavilion building that would have 14,000 square feet of ground-floor commercial space and two floors of creative office space.

The site – a retired newspaper printing facility – encompasses one and a half blocks at 817 S.W. 17th Ave. It’s located near Providence Park with access to Interstate 405 and U.S. Route 26.

Demolition of the concrete press buildings is expected to begin this year, with construction scheduled for completion in mid-2020.

Portland’s GBD Architects is the lead designer of the half-block office component, while Seattle-based Mithun is designing the full-block residential and pavilion project.

The project is Urban Renaissance Group’s largest to date in Portland, founder and CEO Patrick Callahan stated in a news release.

Security Properties’ tower would have 337 apartments, with a mix of one- and two-bedroom units and eight large penthouse suites.

The project team has twice received design advice from the Portland Design Commission and is scheduled to return for design review on March 2. The commission has scheduled three hours of discussion for the project.

The development proposal drew a largely positive response from design commissioners during an October discussion.