A New York City investment firm snapped up a Lake Oswego luxury apartment building this month for $66 million.

Sentinel Real Estate purchased the 158-unit Willow Apartments, in the Kruse Way area, in a transaction that values the 2-year-old development at $417,721 per unit — a high-end valuation for the Portland market.

The seller was an entity tied to the original developer, Shorenstein Properties of San Francisco. Deacon Construction built the project, which was designed by GBD Architects.

“Willow Apartments aligns with our strategy of acquiring high-quality rental communities situated in markets characterized by limited supply, strong population growth and positive economic fundamentals,” George Tietjen, Sentinel’s managing director, stated in a news release.

“Lake Oswego is considered one of the most affluent and supply-constrained submarkets in the greater Portland metropolitan area given its high household incomes, desirable schools and limited new multifamily development,” Tietjen added.

Willow Apartments offers units with one, two or three bedrooms, community amenities including a sky lounge, flexible dining and workspaces, private work pods, a fitness center with forest views, an open-air deck and a barbecue patio, covered parking spaces with electric-vehicle charging, multiple storage areas and a pet-grooming spa.

Willow Apartments sits on a 5.16-acre site at 5600 Meadows Road.

This property will “benefit from durable rental income and sustained market demand for upscale living spaces” in Lake Oswego, Tietjen stated.

JLL Capital Markets Senior Managing Director Ira Virden and Managing Director Carrie Kahn represented the seller.

Clackamas County recorded the transaction on July 10.

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The State Accident Insurance Fund Corporation (SAIF) named Ian Williams as its interim president following the sudden resignation of former CEO Chip Terhune amid a sexual harassment investigation.

The Oregon Journalism Project first reported on Terhune’s quiet departure in April after an anonymous complaint was issued. It accused Terhune of sexual harassment and called him a “liar.”

SAIF is Oregon’s longtime not-for-profit workers’ compensation insurance company. Based in Salem, it has 1,185 employees. It is a public corporation and is subject to state public records law.

Terhune was named the company’s CEO in 2021. His annual base salary was $592,307, and he earned an incentive in 2024, which was paid in 2025, for $251,431.

During Terhune’s time as CEO, an unknown suspect fired several rounds into his Lake Oswego home and fled the area on foot. Police believe Terhune was targeted, according to a report.

Terhune, according to his SAIF biography page, previously served as senior vice president and general manager of government programs and accounts for healthcare tech company Medecision.

He was also chief of staff for former Gov. Ted Kulongoski, an assistant executive director of the Oregon Education Association, a director of environmental and public affairs at Schnitzer Steel in Portland and vice president at Cambia Health Solutions in Portland.

In late 2025, an anonymous reporter filed a complaint. The Statesman Journal received a copy of the redacted complaint through a public records request.

“I am worried about the safety and well-being of other employees,” the complaint said. “There have been happy hours scheduled on (redacted)’s calendar that include just her and Chip, and I know other female employees have been invited out after working hours to meet with him alone as well. He is often seen hugging female employees, along with emailing, texting and calling them after hours.”

SAIF officials said they could not comment on the specifics of individual complaints.

“SAIF takes all complaints seriously and has a process for employees to report concerns confidentially,” company spokeswoman Lauren Casler said. “We are committed to a workplace where all employees feel safe.”

Oregon Journalism Project reported that after receiving the complaint, SAIF immediately started an ethics complaint investigation. Before a scheduled closed-door meeting about potential discipline, Terhune resigned on March 25, according to the article.

Williams, SAIF’s chief operating officer, was named interim CEO and president.

SAIF’s board of directors is conducting a nationwide search for a permanent president and CEO, Casler said.

Editor’s note: This article first appeared in The Statesman Journal and then was distributed on the USA TODAY Network via Reuters Connect.

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Affordable housing and Lake Oswego might seem to be a contradiction in terms, but in one of Oregon’s most expensive and exclusive suburbs, officials broke ground Wednesday on a small apartment project dedicated to providing units at below-market rates.

A few dozen dignitaries and industry officials busted out ceremonial golden shovels for El Nido, a 55-unit development on Boones Ferry Road near Lake Oswego’s Lake Grove neighborhood.

The $32 million project is Lake Oswego’s second affordable housing project funded by Metro bonds. The first, Mercy Greenbrae at Marylhurst Commons, was completed with 100 units in May 2024.

“I’m very pleased that this project is in Lake Oswego,” Clackamas County Commissioner Ben West said. “Affordable housing sites should be distributed throughout the county.”

Metro purchased the site in 2023 from the city of Lake Oswego for $2.3 million. Before that, the parcel had long served as construction staging for the Boones Ferry Road project, Lake Oswego Mayor Joe Buck said.

Using the land for affordable housing is “life changing, and it’s the most impactful thing we could do,” he said.

Construction commenced after developer Hacienda Community Development Corp. successfully legally challenged a decades-old 25-foot setback requirement from an adjacent road that severely constrained the site’s buildable area.

“I thought, we’re going to be left with a dining room table in the middle,” joked Ernesto Fonseca, chief executive of Hacienda CDC. “Clearly, that’s not going to work.”

The building will outlive today’s troubled times, he said, noting “so much persecution of minorities in this country.”

“This will pass,” Fonseca said, while the building will continue to provide affordable housing well into the future. “This will be here for a long, long time ahead.”

El Nido’s design team is a partnership of Mackenzie and Access Architecture. Colas Construction is serving as general contractor alongside subcontractors including J.A. Mechanical and SOS Exterior Remodeling.

Andrew Colas, CEO of Colas Construction, recalled that Hacienda CDC first hired the Black-owned contractor in the late 1990s. Hacienda took a chance on Colas Construction for a project with two six-unit buildings when Colas had not yet tackled a project that large, he said.

“There was always an RFP written that said you shouldn’t try,” Colas said, referring to a request for proposals.

Colas said he had worked with the subcontractors on increasing their capacity to take on bigger jobs, including co-signing for a line of credit in one case.

El Nido — Spanish for “The Nest” — is part of Metro‘s drive to build thousands of affordable housing units funded by the $652.8 million regional housing bond passed by voters in 2018. The regional government is on track to build 5,600 affordable housing units, well above the initial goal of 3,900 homes, Metro Councilor Christine Lewis said.

“We’re overdelivering,” she said Wednesday. “We’re killing it.”

Ten units at El Nido will provide permanent supportive housing with services for residents. One apartment, to be used by the property manager, is not a regulated affordable unit, leaving El Nido with 54 affordable units.

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The city of Lake Oswego has broken ground on Rassekh Park. The park includes a new multi-purpose sports field, large playground and skatepark for the community at the Rassekh property on Stafford Road.

The new 10-acre park will also include a parking lot with a dropoff area, new access pathways and the expansion of existing multi-use pathways, restrooms, walking trails, a covered picnic area, a protected natural area surrounding Pecan Creek, and the necessary utilities, including water, electricity, stormwater and sanitary sewer service.

The project team includes landscape architect and civil engineer Mackenzie, electrical engineer Sazan Group, skatepark design-build California Skateparks and general contractor Paul Brothers Inc.

Mackenzie helped engage the surrounding community by embarking on a year-long public outreach process that encouraged and enabled key community members to influence and inspire the concept and vision for the park. Through a series of meetings hosted by Mackenzie and the city of Lake Oswego, more than 600 community members drove a concept for the park that maximized play and exercise opportunities, while respecting the natural character of the surroundings, Mackenzie stated in a news release.

Since athletic fields in Lake Oswego are in high demand, new fields were identified as a high priority to be funded with the Lake Oswego Parks & Recreation bond money, the firm stated.

The groundbreaking event served as the official launch of the phased development. Phase I of the project will include the construction of a 10,000-square-foot skatepark (designed by California Skateparks); right-of-way improvements for Stafford Road such as trees and streetlights; reconstruction of the multi-use path; a new restroom building; and the development of a variety of other critical utilities that lay the foundation for the rest of the project.

Phase I of the project is expected to be complete next year.

Additional features will be realized in the subsequent phases: a synthetic turf athletic field will enable year-round soccer, lacrosse, baseball and softball games for youth sports. A new, large playground will also be constructed. Input from more than 100 local elementary school children informed the final concept of the playground, which will include a mix of natural play elements and accessible play equipment.

The total project cost for all phases is expected to be over $5 million.

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An office campus in Lake Oswego has sold for approximately $2.7 million.

ME2 Realty LLC, of Pittsburg, Pennsylvania, purchased the Mountain Park Office Campus at 412 Jefferson Parkway late last month.

Constructed in 1981, Mountain Park Office Campus is a two story, multi-tenant office campus totaling 16,085 square feet. Located in the Mountain Park subdivision, the building offers quick access to I-5 and the amenities available on Kruse Way. The property features ample parking, wood ceilings and views from the second-floor suites.

Raymond Duchek and Thomas McDowell with Portland-based Norris & Stevens Inc. represented the seller, identified by Clackamas County records as Mountain Park Office Campus LLC. Peter Stalick with Kidder Matthews represented the buyer, ME2 Realty LLC, in the transaction.

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Urban Development + Partners is moving forward with plans for a three-building mixed-use development that would anchor the north end of downtown Lake Oswego.

The Lake Oswego Redevelopment Agency‘s board last month voted to authorize negotiations with UD+P for a memorandum of understanding and a disposition and development agreement for the project, which is expected to cost more than $60 million.

The Portland developer plans to construct three buildings on a 1.07-acre site that was cobbled together by the city of Lake Oswego to bring new development. The city spent $6.8 million to assemble the parcels, which are for now mostly covered by surface parking lots.

A 51-room boutique hotel would occupy the westernmost parcel at B Avenue and First Street, and come from the same people behind the Atticus Hotel – a luxurious wine-country retreat in McMinnville. The Lake Oswego hotel is likely to be part of the Atticus brand, said Sarah Zahn, UD+P’s development director.

Architect Nathan Cooprider designed the McMinnville hotel and is on board to design its Lake Oswego counterpart. Plans call for a four-story, 45,000-square-foot building, Zahn said.

The middle parcel would have a four-story, 45-unit apartment building.

The third parcel would have 30,000 square feet of office space. It would rise as three main floors, with a small fourth floor opening onto a rooftop deck.

“At UD+P, our major focus is really urban infill – walkable, community-based development – and we feel like this location in downtown Lake Oswego is a good opportunity to continue that focus,” Zahn said.

Hacker is designing the office and residential structures. DCI Engineers is also working on the project.

UD+P has not selected a general contractor. The developer will invite handpicked contractors to participate in a selection process, Zahn said.

For the city of Lake Oswego, the plan would fulfill a long-held goal to anchor the north side of downtown and to complement The Windward and other new developments to the south. Lake Oswego officials refer to the UD+P project as North Anchor.

“We’re really looking at something to energize a compact shopping district,” said Sidaro Sin, redevelopment manager for the city.

Four-story buildings are appropriate for the existing scale of downtown, Sin said.

“The key thing here is kind of a balance between a development that works and also fits within the character of Lake Oswego,” he said.

Zahn expressed hope that the boutique hotel would work in concert with – a new four-story, mixed-use building from the Haladay family’s 10 Branch development company that includes a 10,000-square-foot event center and wedding venue.

“We feel like there’s demand in Lake Oswego for all of these uses,” she said.

UD+P is Lake Oswego’s latest business partner for North Anchor. A previous request for proposals led to the city selecting Sturgeon Development Partners; however, the firm withdrew from the project last year. Sturgeon Development Partners had planned a somewhat different project, with a larger, 132-room hotel, but no multifamily or office space.

“They weren’t able to secure all the financing that they needed at the time,” Sin said. “It was amicable.”

Vanessa Sturgeon, a principal and founder of Sturgeon Development Partners, said local politics in Lake Oswego, including demands by one city councilor for affordable housing, sank the project.

“It ended up spooking our investors,” she said. “The Lake Oswego political environment is what killed the deal.”

Lake Oswego then launched a second request for proposals in late 2019 that led to the connection with UD+P.

UD+P is confident it will be able to complete the project despite the economic upheaval wrought by the coronavirus pandemic, Zahn said.

“We have our own investment fund that we bring to bear on projects, so our horizon is a long-term horizon,” she said. “This gives us some more flexibility.”

UD+P is not obligated to buy the land right away, Zahn said.

“We can work with the city,” she said.

The city and developer are on track to execute a memorandum of understanding in June, and a disposition and development agreement in September, Zahn said.

“We would start construction next summer,” she said. “So hopefully, from a timing perspective, we’ll be at a good time for starting a project and financing a project.”

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The future of the former Marylhurst University campus in Lake Oswego will be the topic of a series of focus group meetings held by the religious organization that owns the property.

The Sisters of the Holy Names of Jesus and Mary (SNJM) are holding the meetings to gather input as they consider possible future uses for the 50-acre campus.

The property at 17600 Pacific Highway (Oregon Route 43) is within the city of Lake Oswego, about 2 miles south of its downtown. The university closed last fall after the Board of Trustees announced previously that it could not continue. Enrollment had dwindled to 324 students.

A first round of meetings was held with SNJM, its lay affiliates, and Marylhurst alumni and former staffers. Residents and management of the adjacent Mary’s Woods continuing care community have also been consulted on the property’s future.

“In their comments, many of the participants emphasized the value (of) the site’s natural beauty, historical significance and long-standing connection to the Sisters,” the organization stated in a news release. “In addition, many talked about the importance of continuing the Sisters’ commitment of service to disadvantaged and marginalized people.”

If SNJM were to make available some or all of the property for development, it would likely be highly valued for its proximity to Lake Oswego and a major highway.

SNJM is working with Ankrom Moisan Architects and R&H Construction on The Village at Mary’s Woods. The $100-million-plus project, nearly completed, includes 198 units of independent living space, 48 assisted-living residences, three retail buildings, a community center and significant site improvements.

Most of the property is zoned as Campus Institutional, although the front portion of the lot has a more flexible Campus Institutional and Office Commercial zoning, according to the city of Lake Oswego

Lake Oswego officials could not immediately be reached for comment on Wednesday.

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The long-awaited project to build a new Lake Oswego City Hall is finally under way, and general contractor Howard S. Wright, a Balfour Beatty Company, has assembled its second bid package.

This work will include excavation, earthwork, utilities and demolition as well as abatement, waterproofing and cast-in-place concrete and rebar.

The new three-story, 72,400-square-foot building was designed by Mackenzie. It’s being constructed at 366 Third St., next to the existing City Hall. The new facility will hold police and 911 dispatch space, city offices, an emergency operations center, ground-floor retail space, and 18,000 square feet of underground parking.

Following completion of the new building, the existing city hall will be demolished and replaced with customer parking and plazas.

A nonmandatory walk of the jobsite will take place April 2, beginning at 2 p.m. All questions must be submitted in writing to Aaron Braun at brauna@hswc.com by end of business on April 5. Bids may be emailed (to Braun), faxed or delivered in hand to Howard S. Wright at its office at 1455 N.W. Irving St., No. 400, in Portland.

To find information on this project, or others like it, join the 91��Ƶ Project Center. The 91��Ƶ Project Center is a searchable and trackable database of thousands of construction projects in the Pacific Northwest. Discover projects ranging from civil transportation work to private multifamily housing, and gain access to all the contact information and project documents you will need to bid on the project. Sign up for a free trial today by contacting Sharlene Richard at 503-802-7252 or SRichard@djcOregon.com.

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The first deck pour was carried out earlier this month for Beacon Lake Oswego, a four-story mixed-use building that will bring office, retail and event space to the city’s downtown. Crews with Bremik Construction, the project’s general contractor, and placement and finishing subcontractor LaRusso Concrete carried out a 580-cubic-yard pour March 1 to form the first floor of the post-tensioned concrete structure.

The Mackenzie-designed building is located in the heart of Lake Oswego, along Third Street between B and C avenues. It is being developed by 10 Branch, a family office consisting of members of the Haladay family – including managing director Miles Haladay, formerly of Viewpoint Construction Software, and his father, retired Viewpoint CEO and board chairman Jay Haladay.

According to Miles Haladay, a Lake Oswego resident, the family saw opportunities for niche event and office space in the city’s downtown core.

“We are firm believers in the downtown Lake Oswego area,” he said. “I like to call it a ‘boutique urban’ environment, an urban environment without the problems of downtown Portland.”

Ironlight, the top-floor event center created by Haladay family members, was borne of a lack of options outside Portland to hold events with 200-250 person capacity. The top floor will feature two decks with panoramic views, so large weddings and other events can be held either indoors or outdoors as weather permits.

The second and third floors, meanwhile, will be occupied by CENTRL Office, a Portland-based co-working startup. Downtown Lake Oswego, Haladay says, offers an attractive alternative to Portland.

“I think people are going to get tired of the traffic downtown and look for other options to be working in,” he said. “Downtown Lake Oswego … provides the best of both worlds. Everything you need you can walk to, but you don’t have the traffic that you have to deal with in downtown Portland.”

The building will hold about 10,000 square feet of ground-floor retail space, some of which Haladay envisions being leased by a boutique market with coffee and grab-and-go food items. Parking for about 116 vehicles will be provided in below- and at-grade garage space.

Haladay cites recent growth in Lake Oswego’s downtown area, including PHK Development‘s Windward and Sturgeon Development Partners‘ North Anchor, as well as older projects like Gramor Development‘s Lake View Village, as evidence of a strong boutique urban core.

“Who’d have thought you’d have a Bamboo Sushi here, or a Salt and Straw, ten years ago?” he said. “I think this is just the beginning of downtown Lake Oswego becoming stronger and stronger.”

The project is scheduled for completion in early 2020, ideally in time for the first event at Ironlight – Jay Haladay’s 70th birthday party – to take place on Feb. 21.

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General contractor Howard S. Wright, a Balfour Beatty Company, is looking for subcontractors to participate in the initial stages of a $41 million project to build a new Lake Oswego City Hall.

The new three-story building will have approximately 53,000 square feet of space and be constructed in downtown Lake Oswego, at 366 Third St., adjacent to the existing city hall. The police department and city services will occupy most of the space; however, some space on the ground floor will be available for retail use. Secure police parking will be below grade.

Mackenzie‘s design includes an approximately 2,500-square-foot room with a partition dividing city council chambers and a courtroom, as well as seven conference rooms. The building will also include a new emergency generator and underground storage tank able to provide backup power for up to five days.

Currently, Howard S. Wright is offering bid package No. 1, which calls for firms to design-build shoring systems, dewatering systems, and glass and glazing.

All questions about the project and requests for bid documents must be submitted via email by March 5 to Aaron Braun at brauna@hswc.com. Bids may be emailed, faxed or delivered by hand, but must be submitted by 2 p.m. on March 12.

After crews finish constructing the new building, the existing one – built in 1986 for about $5 million, according to the city – will be demolished and replaced with parking and plazas.

To find information on this project, or others like it, join the 91��Ƶ Project Center. The 91��Ƶ Project Center is a searchable and trackable database of thousands of construction projects in the Pacific Northwest. Discover projects ranging from civil transportation work to private multifamily housing, and gain access to all the contact information and project documents you will need to bid on the project. Sign up for a free trial today by contacting Sharlene Richard at 503-802-7252 or SRichard@djcOregon.com.

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