SEATTLE--(BUSINESS WIRE)--Greystar, a global leader in the development, investment, and management of multifamily housing, today announces its first-ever residential development in Portland, Oregon. Comprising 182 apartments and approximately 8,000 square feet of retail spaces, the soon to be named project recently began construction on Thursday, July 18, with an official groundbreaking ceremony. Located at the corner of Southwest 18th Avenue and Southwest Salmon Street in the neighborhood of Goose Hollow, the project marks Greystar’s expansion across the Pacific Northwest, which currently includes offices in Seattle and now Portland.
“As the burgeoning city of Portland evolves in its wide array of job offerings and housing demands, we are thrilled to begin construction and bring to market our first of, hopefully, many great projects for local area residents,” said Aaron Keeler, Senior Director, Development at Greystar, Pacific Northwest.
Slated to open in 2021, the eight-story community will introduce both market-rate and affordable rental residences, under Portland’s inclusionary zoning mandate. Purchased from TriMet, the transit-oriented site will provide easy access to nearby light rail transportation stops including Kings Hill Station, which provides direct access to downtown Portland. The community will be minutes away from Providence Park, multiple bus stops and the 405-Interstate freeway. Future residents will also have convenient access to Multnomah Athletic Club, Lincoln High, and Providence Park, home to Major League Soccer team, the Portland Timbers, and the American professional women’s soccer team, the Portland Thorns. Designed by SERA Architects, the community’s design will draw inspiration from New York City’s iconic Flatiron Building and reflect a sustainable design with dynamic spaces for its residents.
“At the heart of Goose Hollow’s best amenities and local entertainment, this community will introduce a modern and eclectic address for future residents looking to live in the center of one of Portland’s most exciting neighborhoods,” said Doug Burges, Director of Development at Greystar, Pacific Northwest. “We look forward to celebrating the groundbreaking of this momentous milestone for Greystar and for the neighborhood of Goose Hollow.”
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development and property management of rental housing properties globally. Headquartered in Charleston, South Carolina, with offices throughout the United States, Europe, and Latin America, Greystar is the largest operator of apartments in the United States, managing over 400,000 units in over 150 markets globally. Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with nearly $16 billion in gross assets under management including more than $7 billion of developments that have been sold or are underway. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service in the rental housing real estate business. To learn more about Greystar, visit www.greystar.com.