The Lake Oswego Development Review Commission has to redevelop property bordered by Kruse Way, Boones Ferry Road and Mercantile Drive.

from CenterCal Properties and Trammell Crow Co. calls for removal of an existing office park featuring three single-story buildings owned by Providence Health Systems-Oregon. A new mixed-use development of four buildings would join a small retail pavilion.

Preliminary plans drawn up by SERA Architects for the Lake Oswego Mercantile Village project show two of the buildings would be four stories and hold both commercial and residential space. A three-story building would be solely residential, and a large single-story retail building would dominate the corner of Southwest Boones Ferry Road and Mercantile Drive.

The existing medical office buildings have approximately 77,000 square feet of floor space and are served by substantial surface parking. All would be removed to accommodate the new project.

Apartments, commercial spaces and a structured parking garage are planned, according to the applicant’s July 18 development narrative.

An anchor tenant would occupy space at the corner of Mercantile Drive and Boones Ferry Road, while smaller restaurants and retailers would occupy other commercial spaces.

Plans call for 208 apartment units along with lobbies, leasing offices, fitness rooms, a rooftop deck and more. A parking garage would be located on the property’s east end.

The new Festival Street, through the center of the development, is planned as an extension of Hallmark Drive to connect with Boones Ferry Road.

The next step for the project team will be final design and permitting.

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