[brandonpdx]

Here's the official press release. One thing to note is they say the 9 blocks to be redeveloped stretch to 4th & Davis. Does this mean they finally build something on that hideous surface parking block that is on 4th, Davis, Couch and 5th!? This is so good for the city!

Beam Development and Bill Naito Company Launch Plan to
Reenergize Old Town/Chinatown Properties
Oregon College of Oriental Medicine committed to Old Town relocation

PORTLAND, Ore. – Beam Development and Bill Naito Company have announced a joint venture to redevelop up to 500,000 square feet of property in Portland’s Old Town/Chinatown neighborhood. Brad Malsin, president, Beam Development, made the announcement in a presentation to the Old Town/Chinatown Visions Committee.
“This is an exciting step forward in the growth and revitalization of Old Town,” said Malsin. “Our first job will be to develop a master plan that incorporates all of the Bill Naito Company-owned properties in the neighborhood.”
Ankrom Moisan Associated Architects (AMAA) of Portland will perform the master plan analysis and evaluation. In addition, AMAA is actively exploring the possibility of moving their 275-architect office to the Old Town/Chinatown area. Beam Development has secured a commitment from the Oregon College of Oriental Medicine (OCOM) to take approximately 30,000 square feet of space to accommodate a graduate school and intern clinic, bringing 105 jobs, 275 students and approximately 1,500 monthly patient visits into the district.
“So many positive things are happening in this part of downtown,” continued Malsin, “including the new University of Oregon-Portland campus and a new permanent location for Saturday Market. Between AMAA and OCOM alone, we have commitments for nearly 100,000 square feet of office space that could bring as many as 350 professional jobs to the neighborhood.
“Our family has been invested in the success of Old Town/Chinatown for more than fifty years,” said Anne Naito-Campbell. “Beam and AMAA will be looking for ways to incorporate a balance of commercial, retail, and residential uses which will build upon the good work being done by business leaders in the area right now.”
Jeff Hamilton, the Ankrom Moisan principal in charge of the master plan, said, “The area around the west end of the Burnside Bridge is about to experience a renaissance unlike anything in recent history. We look forward to playing a role in that rebirth.”
According to Hamilton, the master plan process will involve three elements: one) determine options for the best and highest uses for the properties and how they can contribute to and help complete the city’s vision for a vibrant Old Town; two) explore opportunities for synergy between the various blocks such as mixed use retail, work-force housing and office, shared parking and ways to create an active pedestrian environment; and three) incorporate sustainable design and features in both the public spaces and commercial buildings in the area.
The properties slated for evaluation cover a nine-block area bordered by Naito Parkway, SW Ankeny, NW 4th Avenue, and NW Davis Street. In addition, Bill Naito Company has been negotiating with Portland Development Commission (PDC) on a proposal to exchange an option on the Silk & Satin Parking Lot for the rights to redevelop Block 8. PDC intends to seek Commission action on a Development and Disposition Agreement based on this concept as soon as possible.
Beam and AMAA expect to have initial concepts available for neighborhood comment by mid-summer and final plans by mid-fall. More information about the project is available at newoldtownpdx.com.