Portland Infill | Southeast Portland - Page 48

PhillyPDX · #**941** Posted **Nov 13, 2023, 2:35 PM**

I noticed a For Sale sign yesterday on the empty (recently demolished) lot at SE Grand and Pine. I think it was the Flatworks building proposed by Sturgeon Development. Not sure if this is a new update or not, but apparently this building fell through?

https://tvaarchitects.com/wooden-wonder/

jb111120 · #**942** Posted **Nov 28, 2023, 10:54 PM**

Hazel Ying Lee Apartments at 3000 Powell Blvd is almost complete. 206 affordable units.

Modera Woodstock at 4804 SE Woodstock Blvd just across the street from the library. 194 units. Just down the street, 5010 SE Woodstock has also started construction.

3260 SE Milwaukee Ave. 120 Units.

sopdx · #**943** Posted **Dec 20, 2023, 10:00 PM**

The vacant nasty dry cleaning building on the corner of SE 28th and Belmont, which has been vacant for at least 15 years, has finally been torn down.

jb111120 · #**944** Posted **Dec 22, 2023, 3:53 AM**

Quote:

Originally Posted by sopdx

The vacant nasty dry cleaning building on the corner of SE 28th and Belmont, which has been vacant for at least 15 years, has finally been torn down.

It's going to be 4 story multifamily with 35 units. The developer (Shortstack) seems to have some sort of mass timber modular design.

PhillyPDX · #**945** Posted **Jan 4, 2024, 2:50 PM**

I don't really follow hospitality world, but didn't this hotel just open in the last few years, and I was always under impression people liked it and it did well. Interesting turn of events.

https://www.wweek.com/news/city/2024...ment-facility/

eric cantona · #**946** Posted **Jan 4, 2024, 7:50 PM**

Quote:

Originally Posted by PhillyPDX

I don't really follow hospitality world, but didn't this hotel just open in the last few years, and I was always under impression people liked it and it did well. Interesting turn of events.

https://www.wweek.com/news/city/2024...ment-facility/

So happy to see this news.

urbanlife · #**947** Posted **Jan 8, 2024, 7:22 AM**

Quote:

Originally Posted by PhillyPDX

I don't really follow hospitality world, but didn't this hotel just open in the last few years, and I was always under impression people liked it and it did well. Interesting turn of events.

https://www.wweek.com/news/city/2024...ment-facility/

Running a hotel is hard and will bleed a lot of money, typically that is offset by the amount of money it brings in, but if the hotel needs to be sold out every day to basically break even, it will eventually fail, even if it seems like a popular hotel.

uncommon.name · #**948** Posted **Jan 8, 2024, 7:32 PM**

Quote:

Originally Posted by urbanlife

Running a hotel is hard and will bleed a lot of money, typically that is offset by the amount of money it brings in, but if the hotel needs to be sold out every day to basically break even, it will eventually fail, even if it seems like a popular hotel.

This. Hotels are my industry and I can tell you that I've seen a lot of hotels built, seem to be doing fairly well and still fold. There are a lot of factors to what makes a hotel effectively operate and the first 3 years to stabilize are crucial. If they can't figure out their expenses and bring in enough revenue, it will tank. I can't tell you how many times we've bought a hotel for bottom dollar from hotel owners who were up to their eyebrows in debt and couldn't turn a profit.

maccoinnich · #**949** Posted **Jan 17, 2024, 5:15 PM**

Fabulous news

Quote:

Shuttered Portland Walmart sold for $20M. Here's what the new owners plan to do with it

PORTLAND, Ore. — Portland investors have purchased the former Walmart at Eastport Plaza for $20 million, with plans to turn it into a Hong Phat Supercenter, the Business Journal has learned.

Last March, Walmart closed the big box store at 4200 Southeast 82nd Ave. Earlier this month, Walmart Real Estate Business Trust sold the building to a group called Portland International Center LLC for $20 million, public records show.

Local real estate firm Ethos Commercial Advisors said in a social media post, without naming new owners, that it had sourced a five-year, nearly $15 million loan representing three-quarters of the 154,000-square-foot building's sale price.

Portland International Center, formed last September, is made up of Hoang Nguyen, Brandon Wang and the Huot Family Revocable Trust, according to state business filings.

Wang, founder and CEO of Hong Phat, said this will be the fourth Hong Phat in the Portland metro. The other stores are at 9819 Northeast Prescott Street and 101 Southeast 82nd Avenue in Portland, and 11655 Southwest Pacific Highway in Tigard.

...continues at KGW. Longer story at the PBJ for those with a subscription.

downtownpdx · #**950** Posted **Jan 17, 2024, 7:15 PM**

That’s great to see this coming to the neighborhood!