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PORTLAND-Octagon Development Corp. is gearing up to develop a 25-story condominium tower on the southwest side of Downtown along the new trolley route.

Eric van Doorninck, a principal in the firm tells GlobeSt.com he’s currently seeking financing and talking with four possible general contractors for the $32 million undertaking and expects to submit for design review by the end of October. The project designer is Ankrom Moisan Associated Architects.

The property used to be the home of the historic Simon Benson house. In deference to the late industrialist and philanthropist, Doorninck says he will name his development Benson Tower. The concrete structure will contain 166 units in a slender design, says Doorninck, explaining that the building itself will take up just one third of the property.

Doorninck tells GlobeSt.com he has sent a camera up to the would-be 15th and 20th floors and there are excellent views to be had. “From the 15th floor up you can see Mount Hood,” says Doorninck. “From the 20th floor you can see right down into PGE Park.”

The penthouses will start on the 20th floor. The sale of the units, which could go for as much as $450 per sf, is what Doorninck says makes it worth building. “If you can’t get to the top, it’s not worth it,” says Doorninck, who will sell the units himself.

Doorninck’s other current project is The Mansion in West Linn, a 136-unit, phased condo project. The first 40 units are built and another 18 are under construction. Six units in the first phase remain available, and Doorninck says he has five presales for the phase under construction.

Doorninck’s company also was the fee developer on a 210-unit apartment conversion at Orenco Station for Simpson Housing, and also a 210-unit project in Hillsboro called the 1201 Club.

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