Portland Infill | Northwest Portland

[pdxsg34]

Originally Posted by urbanlife

Where is the new library going to go? I thought they were just gonna build a new one where the old one exists now.

2025 NW Overton St

[maccoinnich]

Why DoveLewis emergency veterinary hospital is doubling in size and adding specialty care



DoveLewis Veterinary Emergency & Specialty Hospital completed a major expansion in late 2019, just before the Covid-19 pandemic sent pet ownership soaring.

The 24/7 pet ER found itself, once again, running short on space.

Now the practice is poised to more than double its footprint, with a brand new building under construction across from its flagship clinic on Northwest Pettygrove Street in Portland’s Slabtown neighborhood.

When the expansion is complete this fall, DoveLewis will be one of the largest veterinary hospitals in the U.S. outside of a university setting — a fitting milestone for the first emergency animal hospital in the country, founded in 1973.

“It’s an interesting time to go through an expansion, coming off the heels of the pandemic,” Ron Morgan, president and CEO of DoveLewis, said in an interview last week. “This building solidifies our future here for decades.”

...continues at the Porltand Business Journal ($).

[urbanlife]

Originally Posted by pdxsg34

2025 NW Overton St

Oh, interesting location. I can see why they would want the main entrance facing the future park...whenever that gets built. Though with such an interesting location, I do wonder why not do a gallery building with entrances on both sides of the building?

[bvpcvm]

Originally Posted by urbanlife

Oh, interesting location. I can see why they would want the main entrance facing the future park...whenever that gets built. Though with such an interesting location, I do wonder why not do a gallery building with entrances on both sides of the building?

It won't face the park, though, it's about mid-block (actually directly across from the current Dove Lewis building, closer to 19th than 20th).

[Delaney]

Originally Posted by bvpcvm

It won't face the park, though, it's about mid-block (actually directly across from the current Dove Lewis building, closer to 19th than 20th).

I believe the property fronts both Overton and Pettygrove, and from the NW Examiner article it sounds like they switched the entry from Overton to Pettygrove so the library can face the park in the future, which aligns with the entry rendering: https://multcolib.org/multnomah-coun...ocation-june-5

[maccoinnich]

The new Dove Lewis building is across from the existing. The new library will directly face the park.

[maccoinnich]

After seven years, a multifamily building opens



Officially, the real estate investors, architects and construction executives who gathered in Northwest Portland last week came together to celebrate the opening of Merx, a 126-unit mixed-use building.

But in a sense, they were celebrating the last breath of the pre-pandemic real estate cycle.

Merx was conceived in 2017, before COVID-19 delayed projects around the nation and sent construction prices spiraling by making everything from loans to concrete more expensive.

“We started this process seven years ago, so the landscape was somewhat different,” said project co-owner Richard Smith, founder of Deacon Development. He undertook the project with Steve Deacon, founder and board chairman of Deacon Construction. The two are longtime colleagues — Smith was Deacon Construction’s first full-time hire in 1982 as project engineer.

Merx, at 1910 N.W. Pettygrove St., was part of a wave of projects submitted just before Portland’s inclusionary zoning rules took effect, requiring affordable units in apartment buildings of 20 units or more. The property was purchased for $2.55 million in October 2017.

Deacon Construction began construction of the 57,412-square-foot building in August 2022, enduring pandemic-related disruptions and workforce challenges, a historic ice storm and delivery delays of construction materials.

...continues at the DJC.

[PhillyPDX]

Not sure what this sale is about. $33M. Didn't it just sell at foreclosure in Feb at $37.7M (posts above)?

Menashe, again.

I'm worried they are just buying up bargain basement prices all over and plan to sit on them for as long as needed to make a huge profit, with no intention of renovating and/or leasing up.

https://www.oregonlive.com/business/...ale-price.html

[babs]

Originally Posted by PhillyPDX

Not sure what this sale is about. $33M. Didn't it just sell at foreclosure in Feb at $37.7M (posts above)?

Menashe, again.

I'm worried they are just buying up bargain basement prices all over and plan to sit on them for as long as needed to make a huge profit, with no intention of renovating and/or leasing up.

https://www.oregonlive.com/business/...ale-price.html

Bank didn't foreclosure, just required the property. This is the actual sale.

[bvpcvm]

I was walking by NW 23rd and Marshall the other day and noticed that it had a new sign from a commercial lender on the fence. On PortlandMaps the property shows recent activity on old permits, but I don't know have any idea what any of that means. Any ideas?

[FiveOverPun]

Originally Posted by PhillyPDX

Not sure what this sale is about. $33M. Didn't it just sell at foreclosure in Feb at $37.7M (posts above)?

Menashe, again.

I'm worried they are just buying up bargain basement prices all over and plan to sit on them for as long as needed to make a huge profit, with no intention of renovating and/or leasing up.

https://www.oregonlive.com/business/...ale-price.html

Semi-related, does anybody know how on earth UrbanWorks sits on so many empty properties for so long? It feels like they've got dozens of empty storefronts in the Pearl and it feels like none of them ever get tenants.

I don't know much about CRE but I have a hard time understanding how they manage to hold so much vacant space.

[babs]

Originally Posted by FiveOverPun

Semi-related, does anybody know how on earth UrbanWorks sits on so many empty properties for so long? It feels like they've got dozens of empty storefronts in the Pearl and it feels like none of them ever get tenants.

I don't know much about CRE but I have a hard time understanding how they manage to hold so much vacant space.

Urban Works is a realtor, not a property owner. Their focus is on leasing urban retail space, that's why you see their signs so much...which is a bit challenging today.

[FiveOverPun]

Originally Posted by babs

Urban Works is a realtor, not a property owner. Their focus is on leasing urban retail space, that's why you see their signs so much...which is a bit challenging today.

Ohhhhh that makes sense, thank you!