Lloyd District News

[uncommon.name]

Originally Posted by maccoinnich

Final Findings And Decision By The Design Commission for the Lloyd Center venue.

Can't wait to see this built and go to concerts there!

[maccoinnich]

There are some renderings of the Lloyd Center development I hadn't seen before on ZGF's website. All conceptual at this stage, of course.

[maccoinnich]

From KKR Real Estate Finance Trust Inc. (KREF) Q3 2024 Earnings Call:

And then on the REO side, let's just talk about each one, is probably most helpful. So our Lloyd Center in Portland, that one, we continue to make really good progress in terms of entitlements and hope to submit and receive back kind of city approval, call it first half of next year, at which point we could begin to have some liquidity events in that particular asset. That's a little bit more identifiable just how far we are down the road. And that's a pretty exciting project. And so I think we're, continue to push that particular one forward.

[maccoinnich]

Prosper Portland to consider sale of Convention Center-adjacent hotel



Prosper Portland on Wednesday is scheduled to consider the sale of a Lloyd District property to a hotel development company.

Portland-founded PDK Hotels Group has offered $3.2 million to acquire the 98-room Inn at the Convention Center at 420 N.W. Holladay St. It was the only bidder for the property.

The city paid $5.25 million for the hotel in 2002, according to a pre-meeting Prosper Portland document. The plan, at the time, was to demolish the hotel and use the site and adjacent property for development of a new convention center hotel.

The city had for decades pursued plans for an Oregon Convention Center hotel. Eventually the stars aligned behind a site a few blocks away from the Inn. The 600-room, $240 million Hyatt Regency Portland at the Oregon Convention Center opened in 2019.

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

[MarkDaMan]

Originally Posted by maccoinnich

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

Please, yes. It's absolutely embarassing that the this prominent building has been rotting away under decades of city ownership. I can't find much about PDK Hotels Group, but hopefully at they very least they extensively renovate the property or close it and tear it down.

[PhillyPDX]

Originally Posted by maccoinnich

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

Hope they plan to fix that up. Very dated hotel being in such a prominent location and extremely visible from the convention center.

[uncommon.name]

Originally Posted by MarkDaMan

Please, yes. It's absolutely embarassing that the this prominent building has been rotting away under decades of city ownership. I can't find much about PDK Hotels Group, but hopefully at they very least they extensively renovate the property or close it and tear it down.

The fact that PDK Hotels Group doesn't even have a functioning website, isn't a good sign for what the future of this property may entail. I'm in the industry and I've never heard of them and having little to scattered info about a hotel group, usually does not create much confidence in their abilities.

[MarkDaMan]

Originally Posted by uncommon.name

The fact that PDK Hotels Group doesn't even have a functioning website, isn't a good sign for what the future of this property may entail. I'm in the industry and I've never heard of them and having little to scattered info about a hotel group, usually does not create much confidence in their abilities.

Agreed, but I also can't imagine the hotel being run down any worse than it currently is.

[babs]

Originally Posted by MarkDaMan

Agreed, but I also can't imagine the hotel being run down any worse than it currently is.

Usually I am a fan of remodels but this location would sure be a great spot for a high rise. Wish the market was better.

[maccoinnich]

The buyer provided brief testimony at the hearing, saying that they were excited to bring it up to being a "brand standard" hotel. While it would be great to see it renovated to the extent the Eastlund is, I don't think that's likely, and I agree that any investment in the property would be welcome.

[PhillyPDX]

Originally Posted by maccoinnich

The buyer provided brief testimony at the hearing, saying that they were excited to bring it up to being a "brand standard" hotel. While it would be great to see it renovated to the extent the Eastlund is, I don't think that's likely, and I agree that any investment in the property would be welcome.

Hey at least it’s way better than the drug den Motel 6 across the street on Grand.

[babs]

Originally Posted by PhillyPDX

Hey at least it’s way better than the drug den Motel 6 across the street on Grand.

The area around the convention center is one of the biggest redevelopment opportunties. Thousands of people could be living within 2-3 blocks of the convention center if all the empty lots and 1-2 story buildings are redeveloped. The area needs a spark and except for a the apartment building surrounding Burgerville and next two it, little else has happened.

[PhillyPDX]

Originally Posted by babs

The area around the convention center is one of the biggest redevelopment opportunties. Thousands of people could be living within 2-3 blocks of the convention center if all the empty lots and 1-2 story buildings are redeveloped. The area needs a spark and except for a the apartment building surrounding Burgerville and next two it, little else has happened.

Hyatt Regency was a big development. I honestly don't remember what was there before, but knowing what remains now in the area it must have been a pretty crappy place for out of towners to come to a convention. In my experience a majority of conventioneers likes to stay somewhat nearby to the host city convention center (and go out for "nice" dinner/drinks within walking distance, which is another huge issue nearby).

[downtownpdx]

If this comes to fruition as planned, convention center attendees will have much more walkable entertainment in the years to come.

The Trail Blazers and Albina Vision Trust look to cultivate Portland's next great neighborhood

By Demi Lawrence – Staff Reporter, Portland Business Journal
Apr 11, 2025

https://www.bizjournals.com/portland/new...er-albina-vision-trust-rose-quarter.html

5-minute-pitch-avt-10 by Ryan Miller, on Flickr

The area around Moda Center, home to the Portland Trail Blazers and, in 2026, a WNBA team, could look very different in the years ahead.

The Blazers, along with city and neighborhood leaders, say fans will be able to arrive in the Lower Albina neighborhood surrounding the Rose Quarter several hours before tip off to grab a bite and a drink before walking over to a newly renovated, state-of-the-art arena.

A few hours later — perhaps even after a Portland win — these same fans could either walk back home to their nearby affordable and market-rate housing or keep the party going at another bar or restaurant within walking distance.

It's a plan that's been a long time in the making, with plenty of loose ends in play, including renovation designs, funding and infrastructure. But the plan is about more than just game days at Moda Center: It’s about creating a bustling neighborhood with groceries and other stores, coffee shops, community hubs and schools where all Portlanders, particularly those pushed out of Lower Albina, can thrive.

(continues/paywall)

[maccoinnich]

Lloyd Center entertainment venue developer sets construction date



Construction on a new entertainment venue at the Lloyd Center is set to begin this summer.

Portland-based concert promoter Monqui Presents and global live entertainment company AEG Presents will begin construction on a 68,000-square-foot entertainment venue that can hold between 2,000 and 4,250 attendees in June at the site of the former Nordstrom building along Northeast Multnomah Street.

“The light at the end of the Lloyd venue tunnel just got a lot brighter and closer - it’s full speed ahead,” Monqui Presents Founder Mike Quinn said in a statement.

Quinn told the Business Journal last September Monqui had been working with AEG for nine years to find the right site for the venue, ramping up interest in the Lloyd Center only six months prior.

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

[PhillyPDX]

Originally Posted by maccoinnich

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

Ped bridge is coming down now.

Such an interesting zone, my kid starting doing piano lessons in Lloyd recently. I walk the nearly abandoned mall a lot while waiting. Such a bizarre feeling, empty, a bit unsettling in the far dark reaches, going up an operating escalator just running by itself in a distant corner with no other person in sight.

And yet, the location has so much potential, as evidenced by the major music venue going in.

[maccoinnich]

From yesterday's KKR Real Estate Finance Trust earning's call:

Next, in Portland, Oregon. During the quarter, we closed on the sale of parcel, which will be developed as a multi-genre concert space. providing an entertainment venue to the site. Additionally, we're working toward the completion of the entitlement of 4-plus million square feet of mixed-use space creating a path to opportunistically sell additional development parcels and repatriate capital.

and

On Portland, again, similar -- a little bit similar story from Hollywood, where we've been working in the background on this redevelopment and entitlement for some time now. And we're getting to the stage where we should be able to sell lots for development, probably multifamily development. We're very excited about that project. But over the course of next year, we are hoping that we can begin to kind of sell lots and repatriate some of that capital. But again, it won't be -- likely will not be a wholesale one sale or likely the individual parcels that we sell to developers there.

[downtownpdx]

Thanks for sharing this, so excited to see Lloyd Center transform into a mixed use neighborhood.

[PhillyPDX]

Originally Posted by maccoinnich

From yesterday's KKR Real Estate Finance Trust earning's call:



and

So as in, it will be developed piecemeal, maybe like slabtown? Except there is a building in place now.

Will it be cut up piecemeal? Or just razed to create a blank slate?

[maccoinnich]

It will definitely be redeveloped in phases; even in the peak of Portland's market we wouldn't have had the ability to absorb the entire potential of this site at once.

As to how they'll sell parcels - they haven't said. However, the parking lots between NE 15th and 16th could probably be sold now, assuming any demand to buy them. If they want to keep portions of the mall open, it would probably be possible to demolish the parts of it east of the ice rink, creating developable parcels between 13th and 15th.