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Construction of one of the final projects within the Con-way master plan has begun in the Slabtown neighborhood of Northwest Portland.

Freewell, a 265,000-square-foot development, is being brought to market by Cairn Pacific LLC and Prometheus Real Estate Group. A seven-story building will host 192 apartments, ground-floor retail space and underground parking. A bridge will connect to a two-story pavilion building with amenities.

The project site is Block 291 East, at 2030 N.W. Raleigh St. Freewell will front a future park to be developed by the city of Portland.

The Portland Bureau of Development Services last week issued a $44 million construction permit for Freewell. However, construction costs have increased so much since a permit was sought nearly a year ago that they’re expected to be around $60 million, Cairn Pacific principal Tom DiChiara said.

Freewell is the eighth project for Cairn Pacific in Slabtown. SERA Architects designed the development 鈥� the firm’s third for Cairn Pacific in the neighborhood; Saltwood and Saltwood North are the others.

SERA also designed Greystar‘s Slabtown Savier, which was approved by the Design Commission in December 2021. That project will occupy blocks 261 and 262.

鈥淭丑别 Con-way master plan provided a blank slate to design and develop an entire neighborhood from the ground up,鈥� SERA Architects principal Kurt Schultz stated in a press release. 鈥淥ur approach when designing at neighborhood scale is to design buildings that are unique but also in harmony with the surrounding context.鈥�

Freewell will feature brick, wood and natural materials, and the pavilion building will be constructed of mass-timber. Materials were chosen as an ode to the neighborhood’s past, when it was filled with warehouses, Schultz stated.

The 20-acre neighborhood previously was owned by the Con-way trucking company. The master plan called for creation of a 24-7, mixed-use area for people to live, work and play.

There are 17 development parcels within the Con-way master plan, and projects for 16 of them are completed or in development. The remaining block, 292 East, is a Prometheus Real Estate Group property. At this point there is no project planned for 292 East, DiChiara said, but developers are hoping it will become senior housing or something other than multifamily.

Over the past nine years, Cairn Pacific and Prometheus Real Estate Group have partnered on five mixed-use projects in the neighborhood. Freewell, their sixth joint venture, will 鈥渁dd a finishing touch to the district,鈥� DiChiara stated.

R&H Construction is the general contractor. Construction is expected to finish in spring 2024.