OCCURA Update : Summer 2006 : Page 1



If this newsletter is not displaying properly, you may view it online at the Portland Development Commission website.

Construction Starts on Phase I of the Fremont Project

PDC announces the groundbreaking and start of construction of Phase One of the redevelopment of the King Food Market site at the northeast corner of NE Martin Luther King Jr. Blvd. and NE Fremont Street. Construction of Phase One is expected to begin in May 2006 with a completion date of January 2007.

(left to right) Ron Sykes, Rob Tucker, Abe Killings, and Norris Lozano make up the development/construction team and Cheryl Twete of PDC.

Phase One will include the construction of a new commercial building with approximately 3,500 square feet of storefront retail space and 5,600 square feet of office space. The new building will serve as a gateway into inner northeast Portland and anchor a prominent corner with new businesses that serve the community. This project is expected to be a catalyst to the ongoing revitalization of the Martin Luther King Jr. Blvd. Corridor. The project represents the first use of the Portland Family of Funds New Market Tax Credits on MLK Blvd.

The site is located on the north side of NE Fremont Street between NE Martin Luther King Jr. Blvd. and NE Grand Avenue in the King neighborhood of northeast Portland.

For more information, visit our website at:

www.pdc.us/ura/convention_center/3510_ne_mlk.asp

PDC Issues Request for Qualifications for Redevelopment of Key Lloyd District Site

In April, PDC issued an RFQ for the purchase and redevelopment of a vacant half block, known as Block 45, in the Lloyd District. The general concept is for development of a transit-oriented, mixed-use, residential condominium building. The block is located between NE Hassalo and NE Holladay Streets along NE Grand Avenue. The block is well served by transit with MAX light rail running along the south side of the site and with a MAX stop nearby. The area is also within Portland’s Fareless Square district. The site is adjacent to the Cascadian Court Condominiums.

Block 45 looking south towards NE Holliday Street
with NE Grand Ave. to the right.

The minimum development plan for the property includes a mid-rise structure (three to six floors) with either for-sale and rental units, or a combination of both. The project should contain a mix of unit sizes, including a number of two-bedroom units, and, if feasible, three-bedroom units. Condos should be affordable to households with a range of incomes with at least 10 percent of the total units affordable to households with incomes below 120 percent of median family income. The ground floor should contain commercial uses that contribute to foot traffic and vibrancy of the area.

Additional information is available at online at www.pdc.us/block45.

The Oregon Convention Center Urban Renewal Area UPDATE is distributed by PDC, the City of Portland’s urban renewal agency, housing and economic development agency. Visit our website at www.pdc.us for more information. To change subscriber options for receiving this newsletter and other PDC information, go to www.pdc.us/signup or contact Joleen Jensen-Classen at jensen-classenj@pdc.us or (503) 823-3352.