RiverPlace Redevelopment - Phase 1 | 325' | 30 floors | On Hold

[CorbinWarrick]

Originally Posted by Jakz

According to an engineer I know who's working on this project, it went on hold a month or two ago. I don't know the details.

Of course just like I predicted

[uncommon.name]

Originally Posted by CorbinWarrick

Of course just like I predicted

On hold =/= dead. Being a pessimist of literally every project doesn't hold any "prediction" weight. You say the same things on literally every thread so that the few times a project does die (which happens literally everywhere, not just Portland), you can say, "see, I told you so!!". Do you not realize how silly you sound and how childish this has become. Come on dude.

[Yomane]

Originally Posted by uncommon.name

On hold =/= dead. Being a pessimist of literally every project doesn't hold any "prediction" weight. You say the same things on literally every thread so that the few times a project does die (which happens literally everywhere, not just Portland), you can say, "see, I told you so!!". Do you not realize how silly you sound and how childish this has become. Come on dude.

Actually, i’m currently working on this project with my team and the user above your comment is correct. We’re currently on a standstill with this project. We’re not sure if it may even survive as it’s currently tied up with the city and investors. We’ll see what happens. I really hope we can resume with the process soon but we’ve been on hold since around April. All the best.

[CorbinWarrick]

Originally Posted by Yomane

Actually, i’m currently working on this project with my team and the user above your comment is correct. We’re currently on a standstill with this project. We’re not sure if it may even survive as it’s currently tied up with the city and investors. We’ll see what happens. I really hope we can resume with the process soon but we’ve been on hold since around April. All the best.

Thanks for the confirmation. I knew something was fishy months ago as proof with my comments

[sopdx]

Noticed this activity on Portland Maps. I have no idea what it means.

https://www.portlandmaps.com/detail/...did/?p=R246187

[Rob Nob]

It is the temporary bracing for the foundation excavation. The lateral tie-backs go beneath the street.

[sopdx]

Originally Posted by Rob Nob

It is the temporary bracing for the foundation excavation. The lateral tie-backs go beneath the street.

I'm I correct to assume this project is starting to move ahead? I know there are some on this forum that are working on it.

[Rob Nob]

I would assume this is following a demo permit, so demo should be moving forward. It is also usually design build, so that'd mean the excavation and shoring subcontractor is on board. Worst case at this point would seem to be a gaping whole with nothing in it, like Park Avenue West was for so long.

[maccoinnich]

Why a 30-story Portland waterfront tower is 'on hold'



The developer of a 30-story residential skyscraper on the Willamette said the project is indefinitely "on hold" after permitting took a long time and financing became too difficult to secure.

"We missed our window," said Aaron Jones, co-president of Eastbank Development, an affiliate of NBP Capital.

Jones previously planned on breaking ground midway through this year for the tower where the RiverPlace Athletic Club once operated. The building is proposed for 150 S. Montgomery St.

...continues at the Portland Business Journal.

[PhillyPDX]

Originally Posted by maccoinnich

...continues at the Portland Business Journal.

Didn't this move quickly from being announced and into permitting stages? Was permitting really part of this delay? Must have been a really tight window they needed to secure financing.

This being said, current interest rate environment will likely kill developments nationwide. So that part make sense.

[maccoinnich]

The design review for the Phase 1 tower went smoothly and permitting didn't seem to be taking that long for a project of its size. What did take a long time was the master plan process for the entire site.

If the Housing Regulatory Relief Project project passes as proposed I believe the zoning entitlements should stay valid until 2028, so there's always a chance that the project will restart (as the Press Blocks did).

[eric cantona]

Originally Posted by maccoinnich

...continues at the Portland Business Journal.

CorbinWarrick's head is going to explode.

[uncommon.name]

Originally Posted by PhillyPDX

Didn't this move quickly from being announced and into permitting stages? Was permitting really part of this delay? Must have been a really tight window they needed to secure financing.

This being said, current interest rate environment will likely kill developments nationwide. So that part make sense.

Yeah, interest rates right now are killing or putting a pause of projects all over the place. We have one project that we are going to phase an existing building remodel now, and then delay a second building ground up construction at the same site over a couple year span until interest rates come back down, rather than have it all done at once.

[CorbinWarrick]

Originally Posted by eric cantona

CorbinWarrick's head is going to explode.

I’m going to be mature about it. I’m use to how Portland is now.

I’ll say this though.

When the permitting and public groveling process is longer than the actual build times, we’ve got a problem

[eric cantona]

Originally Posted by CorbinWarrick

When the permitting and public groveling process is longer than the actual build times, we’ve got a problem

You'll get no argument at all from me on this point.

[DMH]

Originally Posted by eric cantona

You'll get no argument at all from me on this point.

This is anecdotal, but I am on the board of a historic building being purchased by a developer who has done projects in Portland for some years. We had a meeting a month ago to discuss the schedule. The developer described the decline of bureau of buildings reviews as a result of the pandemic, the working from home, the departure or retirement of experienced plans examiners, and now a very inexperienced plans examiner staff handling current projects. The loss of mentors and institutional memory have hindered the ability of BDS to efficiently process permit documents. Conditions were actually better before the pandemic.

[pdxsg34]

An Athletic Club Gets Lost in a Billionaire’s Dreams

It’s been nearly a decade since anybody bounced a basketball, swam a lap or drank a smoothie in what was once the city’s most popular gyms, the RiverPlace Athletic Club.

“There was a great sense of community there,” says Doug Bean, a longtime commercial realtor who was a fixture at RiverPlace for many years. “I really miss it.”

The RAC, as people called it (perhaps in joking reference to the invitation-only Multnomah Athletic Club) went dark in 2015 after a slide into financial difficulties. Its closure marked the end of an unusual history.

Continues at WWeek

[urbanlife]

I am really annoyed that this tower doesn't look like it will happen. I was really hopeful for this redevelopment.