River District
Meier and Frank

Case Study

Project Summary:

  • 600,000 sq. ft. renovation
  • $140 million total project cost
  • Macy's opens October 2007
  • The Nines Hotel opens summer 2008
  • Creates and retains over 265 jobs
  • 24/7 use and vitality to Portland's downtown core
  • Complete seismic upgrading utilizing Viscous Dampers with no impact to foundations, exterior walls, terra cotta facade
  • Condominium ownership of retail and hotel
    • Floors 1-5: retail with exterior upgrades to storefront, complete building system renovation
    • Floors 6-15: Luxury-class hotel with 330 rooms, 7,000 sq. ft. skylight atrium, ballroom, restaurant, lobby, upper floor additions, new mechanical, etc.
  • Maintains National Historic Register status
  • 20% Historic Tax Credits, Energy Tax Credits, $72.5 million New Market Tax Credits

The historic Meier and Frank Department Store Building is located in the heart of Portland's retail district. The building plays a defining role in the retail and economic health of the city as well as its history.

By the late 1990s, the building had outgrown the Meier & Frank department stores' needs. At this time, May Company, the owners of the Meier & Frank Store brand, partnered with the Portland Development Commission to initiate a feasibility study to see if it would be possible to adapt the building for alternative uses. In 2005, PDC worked out an agreement with Sage Hospitality Resources (Sage) to adapt the upper floors of the building as hotel space while the lower floors would be repositioned as retail space. Denver based Sage is one of the leading hotel management and development companies in the United States. This innovative company is a recognized industry leader that specializes in premium-brand and independent hotels, many in historic buildings. Currently Sage has historic projects in Denver, Pittsburgh, Providence, Chicago, San Diego, and Milwaukee.

The project is now well into construction. The final result will be a fifteen-plus story building that will provide five floors of retail space and ten floors of luxury hotel accommodations in the heart of downtown Portland. The retail store, now known as Macy's Northwest, will open October 26, 2007 kicking off downtown Portland's holiday shopping season. The Nines Hotel and a roof-top restaurant are scheduled to open summer 2008.

Other resources:

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