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The partnership plans to construct a modular 110,000-square-foot, Class A, mixed-use development that will feature 131 multifamily units and approximately 8,600 square feet of retail space at the quarter-acre site.
The New York developer and joint venture partners bought The Richmond and South Seas hotels for $140 million after acquiring The Raleigh for $103 million with plans to restore them and add a residential tower.
The Resmark Companies is entering the Portland multifamily market in partnership with longtime joint venture investment partner LMC, a Lennar Company, to develop Amara, a 138-unit multifamily community.
Modera Lake Merritt, which sits one block from Lake Merritt, features 1,650 square feet of retail space and 173 studio, one- and two-bedroom homes in a project being developed by Mill Creek Residential.