91视频

Construction can continue apace on the 100 Columbia project in downtown Portland now that the developer has secured a $96.5 million loan.

The loan was arranged by commercial real estate firm HFF on behalf of developer Alamo Manhattan and will be repaid over four years, Multi-Housing News reported. HFF previously obtained for the project team a $47.4 million loan 鈥渋n a joint venture equity partnership with Diamond Realty Investments,鈥� according to Multi-Housing News.

The Bureau of Development Services late last year issued a building permit for the project, and ground was broken in January on the 0.92-acre site at 140 S.W. Columbia St. Andersen Construction is serving as general contractor.

The estimated value of the project is $75 million, according to BDS documents.

GBD Architects‘ design for the project was approved by the Design Commission in November 2017. Plans call for a 20-story tower with 348 residential units, 15,000 square feet of ground-floor commercial space and rooftop amenity spaces at multiple levels.

Approximately 244 motor vehicle parking spaces will be included in an above-grade garage. Also, 521 bicycle parking spaces will be provided.

Construction is tentatively scheduled for completion in 2020.

The property owner is Downtown Development Group via Lot 53 LLC. It acquired the property in 2013 from the Louis Dreyfus group, according to media reports.