What’s happening in Portland’s West-end
Downtown Portland’s West-end neighborhood is experiencing a surge in new development, turning the area into one of the most desirable live-work-play areas in the metro.
November 27, 2019
- Downtown Portland’s West-end neighborhood is experiencing a surge in new development, turning the area into one of the most desirable live-work-play areas in the metro. Here are some of the biggest and most high-profile developments that have delivered, or are set to deliver, since the revitalization began in 2010:
- The two most prominent mixed-use projects that delivered to the West-end this cycle are Indigo @ Twelve | West and Park Avenue West. Both offices are fully occupied by professional services firms, with the rest of the building offering high-end apartments amidst bustling ground floor retail and restaurants.
- The Galleria and West End Building are two prime location historic buildings undergoing full renovations. The Galleria will deliver 120,000 square feet of creative office plus a new 25,000 square foot penthouse, while the West End Building will transform into a 45,000 square foot creative office.
- Portland’s 4th largest tower, Block 216, will house the first Ritz Carlton hotel in the Pacific Northwest and also Portland’s first 5-star hotel. The 35-story, 1 million square foot building will include 250 hotel rooms, 138 Ritz Carlton co-branded condos, 2 floors of event space, 150,000 square feet of office, and 2 floors of amenity space including a spa and acclaimed Ritz Carlton restaurant.
- More mixed-use is on the horizon. Cresset Capital recently announced that it will invest in Eleven West from its $325 million opportunity zone fund. Eleven West, a partnership between Gerding Edlen and Downtown Development Group, is set to begin construction in early 2020 and will comprise 24 stories of mixed-use office, retail and multifamily.
- But perhaps the most notable developments in the neighborhood are all the new hotels. The Woodlark and Sentinel Hotels collectively added 250 rooms in beautifully renovated historic buildings. The Woodlark’s retrofit took three years to complete, joining two side-by-side buildings and is home to celebrity chef, Doug Adam’s Bullard restaurant.
- Three more hotels are currently under construction, the aforementioned Ritz Carlton in Block 216, The Moxy and Hyatt Centric. The Moxy is a 197-room hotel development that is part of a new hotel franchise called “Moxy Hotels” by Marriot and will include food stalls and an active bar scene on the ground floor. The Hyatt Centric is a 215 room hotel in Hyatt’s new “lifestyle” brand of hotels that is tailored to the “modern traveler.” It is expected to deliver in January with a restaurant/bar operated by a local Portland Chef.
Source: JLL Research