Prosper Portland intends to move forward with an office building on top of the garage adjacent to the Convention Center Hotel, reports the Oregonian. The 100 Multnomah office building would add 118,000 square feet of rentable office space on top of the currently under construction parking garage.
The Portland City Council approved financing for the N Williams Center, reports the Portland Mercury. The 61-unit apartment building will include 40 units for renters who earn less than 30 percent of area median income (AMI) and 20 units for those earning less than 60 percent AMI.
Multnomah County intends to purchase the Modish Building at 333 SW Park, for use as a mental health and addiction resource center. A previous proposal for the 4-story building would have seen it converted into creative office space.
The Design Commission has approved the Oregon Convention Center Hotel, which represents one of the final hurdles for the long planned project. The Hyatt Regency branded hotel will include 600 guest rooms and 32,000 sq ft of ballroom and meeting room space. The ground level of the 14 story building will include public facing spaces including the main lobby, a restaurant, bar, the junior ballroom and a 24-hour retail market. The second and third floors will include the main ballroom, meeting rooms, a fitness center, and a Regency Club lounge. Guest rooms will be located in the body of the 180′-6″ tall tower, on levels 3 to 14.
The hotel is being developed by developer Mortenson, with a design team that includes ESG Architects and Mayer Reed Landscape Architecture. The $240 million hotel is being funded from a mix of public and private sources. $165 million will be invested by Hyatt/Mortenson Development, while Oregon Metro will contribute $60 million in bonds backed by lodgings tax revenue expected to be generated by hotel guests. Additional funding sources includes $4 million from Metro’s Convention Center reserves and $10 million from lottery funds.