348 Units in CBD Lock in Development Funding
100 Columbia is to be a 348-unit class A high-rise multifamily community in the CBD due for completion in 2020, when it will include studio, one- and two-bedroom luxury units averaging 817 square feet.
PORTLAND, OR—100 Columbia is set to be a 348-unit class-A high-rise multifamily community in the CBD. The development is located on a 0.92-acre site that spans the block bound by SW Clay Street, SW 1st Avenue, SW Columbia Street and SW 2nd Avenue. The site, which has a WalkScore of 93, will support what will be the nearest high-rise residential building to the Willamette River. It is also one block from Tom McCall Waterfront Park to the east and Keller Auditorium to the west, and is within three blocks of the CBD’s core job center that is home to more than 2 million square feet of high-rise office.
Due for completion in 2020, 100 Columbia will include a mix of studio, one- and two-bedroom luxury units averaging 817 square feet. The 20-story development will feature premium interior finishes and community amenities, including a 15,000-square-foot sixth-floor amenity terrace and a 20th-floor rooftop resident lounge, which will open onto an observation deck offering unobstructed views of the downtown skyline, Mount Hood and the river.
The property will also include a 16th floor rooftop terrace. In addition to the multifamily component, 100 Columbia will incorporate nearly 15,000 square feet of ground-floor retail for residents and office employees in the surrounding area.
A $96.5 million loan was recently procured for the development. The Holliday Fenoglio Fowler LP team worked on behalf of the developer, Alamo Manhattan, to secure the four-year construction loan through PCCP LLC. The HFF debt placement team representing the developer included senior director Mark Erland and director Matt Benson along with director Charlie Watson.