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PORTLAND-Developer Roy Kim is seeking a joint venture partner for the next phase of Bethany Village, a 138-acre master planned community on the outskirts of Portland that is now 95% complete.

The project is West Parc at Bethany Village, a 554-unit, luxury multifamily development that will be developed on 14.37 acres. Kim has retained Holliday Fenoglio Fowler to identify an investor partner for the project, which is slated to break ground this coming February.

“(Bethany Village’s) existing multifamily projects provide management efficiencies, which together with the barriers to entry provided by the surrounding master-planned development and the abutting Urban Growth Boundary, offer long-term rental appreciation and an irreplaceable community,” says Lloyd Minten, HFF’s senior managing director in Portland.

West Parc’s individual units will feature fireplaces, full-size washer and dryer combinations, vaulted ceilings, walk-in closets, ceiling fans and natural gas appliances in the kitchen. A two-story community clubhouse and yard will encompass an outdoor swimming pool, two Jacuzzis, a half-sized basketball court, two meeting rooms and a business center.

Bethany Village already contains South Parc (a 152-unit Class A multifamily project), Central Parc (a 118-unit Class A multifamily project), Bethany Village Centre (a QFC-anchored, 119,000-sf retail project), Bethany Village Offices (65,000 sf of class A office space), Promenade (a 102-unit condominium project) and Essenza at Bethany Village (a 52-unit multifamily project, with 45,000 sf of ground-floor retail). Still to be built are a 280-unit senior living facility, a 40,000-sf athletic facility and a 120,000-sf office complex that may or may not be built.

When completed, Bethany Village will eventually contain more than 1,000 homes, a combination of single-family, condominium, duplex and apartment homes. The L-shaped development’s west and south edges border Claremont, with the east edge defined by Kaiser Rd. and the north edge by Laidlaw Rd.

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