Oregon Convention Center:
Lloyd District

Block 45 Redevelopment Project

 
  Overview of Cosmopolitan Tower site

View of Cosmopolitan Tower site looking south

Overview On April 20, 2006, PDC released request for qualifications (RFQ) #05-41 seeking proposals from qualified developers for the purchase and redevelopment of an approximately 20,000 square foot site (the “Property”) situated at the intersection of NE Grand Ave. and NE Holladay St., in the Oregon Convention Center Urban Renewal Area (“OCCURA”). At the end of 2000, PDC acquired the Property, also known as Block 45, to further the goal of increasing the supply of housing units in the Lloyd District. The RFQ sought proposals for development concepts that included condominium units at a relatively high density. PDC received a single response to the RFQ, that from Weston Investment Company.  During 2006 and 2007 PDC negotiated a disposition and development agreement (DDA) with Weston which was approved by PDC’s Commission on April 25, 2007.

Weston’s proposal, dubbed the “Cosmopolitan Tower” includes approximately 200 residential condominiums contained in a 31-story “point tower.” Weston’s proposal will also include ground floor commercial space totaling approximatley 15,000 square feet along with five levels of parking, three below ground and two above ground. Of the approximately 200 residential units, 30 are proposed as studios, 60 as one bedrooms, with the rest two bedrooms or larger.  The DDA requires that 10 percent of the building’s total units be priced at 120 percent of median family income.

Since signing the DDA, Weston has worked diligently on pre-development activities, even in the face of worries about the condominium market.  In addition to geologic tests, which didn’t uncover any major issues, Weston has directed its design firm, LRS Architects, to perform initial engineering studies for the proposed building. With these in hand, LRS has started the process of adding detail to the initial concept (below). In addition to engineering and design activities, the LRS team has made presentations to a wide variety of stakeholder groups. These have included the Lloyd District Community Association, the Lloyd District TMA, and the Cascadian I homeowners association as well as several neighborhood associations. Nearly all feedback from these groups has been positive. In early 2008, the LRS team will finish obtaining preliminary design advice from the City of Portland in preparation for full-scale design work later in 2008.  Construction is currently scheduled to begin in 2010 with occupancy starting in 2012.

Resources and Publications Fact Sheet: Block 45 Phase I Environmental Site Assessment; PDC OCC Block 45 (2005) Available for review upon request. Property Appraisal (5-25-05) Request for Qualifications (RFQ) RFQ #05-041, Block 45 Redevelopment Project (An addendum was issued on 5/3/06 for this RFQ.) Residential and Commercial Market Analysis for Block 45

Cosmopolitan Tower Concept

Background Materials

This project is guided by several planning and policy documents. The following plans and related goals establish the context of the project and its relationship to adopted public policy.

• Oregon Convention Center Urban Renewal Plan (1989)
  
  
  • Support residential, mixed-use and free-standing projects with the creation of quality amenities and environment;
  • Foster middle-income residential and mixed-use development in the Convention Center area as mutually supportive of retail opportuniteis and the maintenance of neighborhood values;
  • Encourage the development of cultural amenities, entertainment and retail support both downtown and within the area along transit and pedestrian corridors, particularly Holladay Street.
    
    
• Central City Plan (1988)

• Encourag ethe development of housing in a wide range of types, prices and rent levels;
• Foster the growth of housing to help reinforce the Central City as a lively urban area, especially during evenings.
  
  
• Lloyd District Housing Strategy (2002)
  
  
• Increase the availability of housing through the development of 3,000 new housing units;
• Increase the diversity of housing options to meet needs and preferences of current and future residents and employees of the District;
• Encourage housing development supportive of job growth and increase the balance of housing units available to employees.

• Oregon Convention Center Blocks Development Strategy (2004)
  
  
• Propose and develop flexible structures on remaining infill blocks that foster mixed-use, with shops on lower levels, car parking at mid levels and residential or office space on upper levels. These buildings will be exemplars of sustainable design, and adaptable in response to economic needs and uses;
• Create small-scale retail frontages on most blocks throughout the area to encourage shopping and dining, and to help activate the streets with people.

• Development Vision for the Oregon Convention Center Blocks (2006)
  
  
• “The Cascadian Experience” — a theme in the study area that emphasizes outdoor recreation, healthy and active lifestyles, and fitness;
• “The Oregon Marketplace” — a theme that showcases the products and industries of the Pacific Northwest specifically in the study area;
• “Sustainability” — promote and demonstrate sustainability and green design.

• Lloyd Crossing Sustainable Urban Design Plan & Catalyst Project (2004)
  
  
• Maximize floor area ratio (FAR) utilization;
• Integrate environmentally sustainable design, materials and construction in new development;
• Create new development in a way that meets or exceeds the environmental functionality of the area in its natural state.
  
  

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