Posted Apr 16, 2014, 1:18 AM
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Join Date: May 2005
Location: Portland
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The Grove Hotel: Inside the 5 finalists vying for Portland Development Commission's blessing to buy vacant hotel
By Andrew Theen | atheen@oregonian.com
on April 15, 2014 at 2:18 PM, updated April 15, 2014 at 5:19 PM
http://www.oregonlive.com/portland/i...incart_m-rpt-1
Quote:
The Grove Hotel is officially back in the city's cross hairs, and five developers are ready to move forward with projects to redevelop the long-vacant hotel.
And according to a public records request, unlikely previous development attempts, the developers largely aren't asking the Portland Development Commission to chip in on the project.
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Here's a look at the five finalists (in no particular order).
1. The Icelandic Hostel option
The Concept: An Icelandic-inspired hostel with 188 beds, and Nordic restaurant/beer hall, multiple ground-floor retail options
The Backers: KEX (an Icelandic hostel backed by a former professional soccer player, a restauranteur and a developer who lost his fortune in Iceland's financial crisis), A&R Development (the Ace Hotel in Portland), ChefStable (the same restaurant group behind Lardo, Ox and Roe).
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2. The Seattle Hostel option
The Concept: A hostel featuring Portland-based art, with ground-floor retail including a coffee shop, laundromat, bike rental, etc.
The Backers: Lee Kindell and Gibraltar Seattle Investments (known for City Hostel Seattle)
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3. The hostel with an "authentic Portland experience"
The Concept: A hostel, based on Basecamp Hotels, a boutique in Lake Tahoe with four small ground-floor retail spaces, one full restaurant and a "speakeasy." Total 190 beds.
The Backers: Naito Development (a Portland company), and Eagle Point Hotel Partners (a New York-based hotel developer)
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4. The "creative workspace" option
The Concept: Several ground-floor retail spaces, but upper floors will be leasable space for smaller businesses. Goal is to make the site a "creative office gateway" to Chinatown.
The Backers: Urban Development Partners NW, Beam Development, Works Partnership Architecture (all local)
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5. The market-rate apartments option
The Concept: Ground-floor micro-retail stores (11 of them). Eighteen, 400-square-foot market rate apartments, two 550-square-foot apartments.
The Backers: Aaron Jones and Don Mutal (both Portland developers)
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