January 23, 2008

MEDIA RELEASE

CONTACT:

Shawn Uhlman, PDC 503-823-7994

Vanport Square Phase I Celebrates Opening Today

The Portland Development Commission (PDC), citizens, and project developer Vanport Partners, LLC will celebrate the grand opening of Vanport Square Phase I, 5225 NE Martin Luther King, Jr. Boulevard, today from 10:30 am to 12:00 pm. The grand opening will include remarks by City Commissioner Sam Adams and PDC Commissioner Charles Wilhoite.

This celebration marks the completion of a 42,000-square foot commercial-condominium project that broke ground in November 2006 in the heart of the King Neighborhood. The businesses currently comprising the commercial component of the project are:

• Old Town Pizza
• Hardshell Restaurant
• Living Color Beauty Supply
• Horn of Africa Restaurant
• Kaiser Group
• Laura Carey Design (graphic design)
• Rick Harris and Associates (accounting)
• Vanport Café
• Tran Allstate Insurance
• Avita LLC (business consulting)
• Norell Design (graphic design)
• Cascade Energy

In addition to the list above, two businesses are in the underwriting phase of being approved for the project and two commercial spaces remain available for purchase.

Future phases of Vanport will feature additional commercial space and housing. For more information, contact Bernie Kerosky, PDC, at 503-823-3459 or e-mail.

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