250 Taylor & Hyatt Unbound | 130'-0" & 245'-6" | 10 & 21 floors | Completed & Dead

[pdxsg34]

Originally Posted by maccoinnich

The permit for the hotel was pulled in September. There’s a lot of money in permit fees / SDCs due when the permit is issued, so an owner wouldn’t typically pull a permit unless they were certain a project was moving forward.

Permit was issued on 2/19, so i assume its off and running

[maccoinnich]

It was issued in September, but it looks like they just got an extension.

[cityscapes]

It seems like they intend to move forward but my guess for the delay is that they need to wrap up the adjacent building and move the construction staging area elsewhere to build the hotel tower.

[maccoinnich]

A revision to the building permit was submitted for review this week. Looks like this one is still alive.

[maccoinnich]

It's now almost four years since the Design Commission approved the hotel project, but it still appears to moving forward. This Type II Design Review application was submitted on Tuesday:

Approximately 180,000 gross square foot hotel project with 250 guest rooms, ballroom, conference center, fitness center, ground floor restaurant, bar/market, support spaces and rooftop bar. The total project consists of twenty one stories of Type I construction with one basement level. This Review application is for proposed revisions to previously approved design review LU-16-111127 DZM AD.

[eric cantona]

Originally Posted by maccoinnich

It's now almost four years since the Design Commission approved the hotel project, but it still appears to moving forward. This Type II Design Review application was submitted on Tuesday:

the slow drip of "not quite having the financing in place".

[pdxlexus]

I'd be surprised if they were able to obtain financing of any kind right now for a hotel. However, this could be a little bit like aiming at a moving target, hoping that the travel industry is back to normal about the same time construction finishes about 2 years from now.

[pdxsg34]

Safe to say the Unbound is dead? It'd be a shame if it was.

[CorbinWarrick]

Originally Posted by pdxsg34

Safe to say the Unbound is dead? It'd be a shame if it was.

Ohh ya dead long time ago. No hotel will ever build next to the courthouse again in fears of riots popping up one day.

Shame because they destroyed the lotus for no reason

[MarkDaMan]

Originally Posted by pdxsg34

Safe to say the Unbound is dead? It'd be a shame if it was.

It's still owned by the same ownership group that was all in on the hotel prior to COVID and the protests. I assume when the hospitality market rebounds this would be one that could return.

[urbanlife]

Originally Posted by MarkDaMan

It's still owned by the same ownership group that was all in on the hotel prior to COVID and the protests. I assume when the hospitality market rebounds this would be one that could return.

It is an ideal location for a hotel tower because it offers such great views.

[NOPO]

Originally Posted by CorbinWarrick

Ohh ya dead long time ago. No hotel will ever build next to the courthouse again in fears of riots popping up one day.

Shame because they destroyed the lotus for no reason

Police brutalizing protestors and then declaring a riot doesn’t make it a real riot.

[maccoinnich]

All - can we keep the discussion on topic, please?

[uncommon.name]

Originally Posted by pdxlexus

I'd be surprised if they were able to obtain financing of any kind right now for a hotel. However, this could be a little bit like aiming at a moving target, hoping that the travel industry is back to normal about the same time construction finishes about 2 years from now.

Obtaining financing for a Hotel isn't much of an issue right now. I have LOI's in on 3 hotels right now and a strong record with our banks. They will finance the projects if the company shows they can have a solid 3 year stabilized forecast, which should not be a problem for Downtown Portland at this point.

[urbanlife]

Originally Posted by uncommon.name

Obtaining financing for a Hotel isn't much of an issue right now. I have LOI's in on 3 hotels right now and a strong record with our banks. They will finance the projects if the company shows they can have a solid 3 year stabilized forecast, which should not be a problem for Downtown Portland at this point.

I am just hoping whatever does get built on that site eventually is a beautiful architecture building. Especially with how much it will stand out in the downtown.

[NOPO]

Originally Posted by urbanlife

I am just hoping whatever does get built on that site eventually is a beautiful architecture building. Especially with how much it will stand out in the downtown.

And I hope it includes housing, not just a hotel.

[tworivers]

I'd like to see some sort of regulation implemented that requires you to have regulatory approval and confirmed financing for whatever new project is being proposed before you can put a demolition permit to use on a building of a certain age or older. That's probably about as close as I'll ever come to the awful "Save Portland" crew but it's sad to think that the Lotus was torn down more or less for nothing. As for the building that did go up, I don't consider it to be an improvement in any way over how cool a renovated (even radically updated/altered) United Workmen Temple could have been.

[CorbinWarrick]

I just don’t understand why they destroyed the lotus for essentially nothing? If you don’t have a plan why destroy a classic place? You could have left it until you were ready

[urbanlife]

Originally Posted by NOPO

And I hope it includes housing, not just a hotel.

Being a quarter block lot, I am guessing it will have to be one or the other.