{"id":3268,"date":"2019-11-08T19:34:22","date_gmt":"2019-11-08T19:34:22","guid":{"rendered":"https:\/\/melvinmarkcompanies.com\/?p=3268"},"modified":"2026-03-31T16:56:32","modified_gmt":"2026-03-31T23:56:32","slug":"neighborhood-spotlight-downtown-central","status":"publish","type":"post","link":"https:\/\/melvinmarkcompanies.com\/neighborhood-spotlight-downtown-central\/","title":{"rendered":"Neighborhood Spotlight: Downtown Central"},"content":{"rendered":"<p><em>The city of Portland is amid its biggest development boom since the 1980s, and one area that\u2019s seeing significant change is downtown. In this three-part blog series, we divide the area (south, central, and north) and explore the many exciting real estate projects taking place.<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4021\" src=\"https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/Downtown-Central-Map-Final-1.jpg\" alt=\"\" width=\"1441\" height=\"559\" srcset=\"https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/Downtown-Central-Map-Final-1.jpg 1441w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/Downtown-Central-Map-Final-1-512x199.jpg 512w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/Downtown-Central-Map-Final-1-1024x397.jpg 1024w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/Downtown-Central-Map-Final-1-150x58.jpg 150w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/Downtown-Central-Map-Final-1-768x298.jpg 768w\" sizes=\"auto, (max-width: 1441px) 100vw, 1441px\" \/><\/p>\n<h2>Downtown Central<\/h2>\n<p>The central part of downtown Portland lies between the Hawthorne Bridge and Morrison Bridge and is bordered to the west by I-405. Here, visitors and residents can enjoy hotels, bars &amp; restaurants, shopping, and cultural attractions as well as green spaces like Chapman Square, Director Park, and Tom McCall Waterfront Park. In just a couple years, the area will see even more activity with the addition of two hotels, several building renovations, and a 10-story office building for an estimated total of $520 million in developments.<\/p>\n<h2>Neighborhood Development<\/h2>\n<p><em>(The downtown central area includes properties west to east from the waterfront to I-405 and south to north from SW Morrison St. to SW Jefferson St.)<\/em><\/p>\n<p>As of September 2019, there are six projects proposed or under construction and two that were completed in 2018 or 2019.<\/p>\n<ul>\n<li>250 Taylor Mixed-Use Property (under construction, completion &amp; occupancy Q1 2020)\n<ul>\n<li>915 SW 2<sup>nd<\/sup><\/li>\n<li>Approximately $90 million development<\/li>\n<li>A 10-story building with 181,295 square feet of office space (pre-leased to NW Natural through Melvin Mark Brokerage Company), 9,530 square feet of retail space, and below-grade parking.<\/li>\n<\/ul>\n<\/li>\n<li>Hyatt Unbound Hotel (construction to begin Q1 2020)\n<ul>\n<li>930 SW 3<sup>rd<\/sup><\/li>\n<li>$111.5 million development<\/li>\n<li>A 20-story, L-shaped tower with 180,000 square feet of space featuring 250 guest rooms and ground-floor retail space.<\/li>\n<\/ul>\n<\/li>\n<li>The Portland Building Renovation (under construction, completion: 2019)\n<ul>\n<li>1120 SW 5<sup>th<\/sup><\/li>\n<li>$195 million capital investment<\/li>\n<li>Renovations to the historic 15-story building that includes a seismic upgrade, water filtration adjustments, exterior renovations, and MEP systems replacements.<\/li>\n<\/ul>\n<\/li>\n<li>PACWEST Renovation (completed 2019)\n<ul>\n<li>1211 SW 5<sup>th<\/sup><\/li>\n<li>$20 million capital investment<\/li>\n<li>A renovation that includes a new state-of-the-art lobby, upgraded MEP systems, a fitness facility, meeting spaces, and a tenant lounge.<\/li>\n<\/ul>\n<\/li>\n<li>10<sup>th<\/sup> &amp; Yamhill Parking Garage Renovation (under construction, completion: 2019)\n<ul>\n<li>730 SW 10<sup>th<\/sup><\/li>\n<li>$25 million capital investment<\/li>\n<li>A renovation that includes a ground floor retail enhancement, new lighting fixtures, and optimized vehicle and bicycle parking.<\/li>\n<\/ul>\n<\/li>\n<li>Hyatt Centric (under construction, completion: 2020)\n<ul>\n<li>619 SW 11<sup>th<\/sup><\/li>\n<li>A boutique 15-story hotel with 220 rooms, 3,000 SF of meeting space, a restaurant, and a bar.<\/li>\n<\/ul>\n<\/li>\n<li>6<sup>th<\/sup> &amp; Main Renovation (completed)\n<ul>\n<li>1050 SW 6<sup>th<\/sup><\/li>\n<li>$10 million capital investment<\/li>\n<li>Renovations to the 23-story office tower include a new entrance, reception area, conference rooms, wellness room, and lounge\/breakroom.<\/li>\n<\/ul>\n<\/li>\n<li>Portland Art Museum Renovation\/Expansion (proposed)\n<ul>\n<li>1219 SW Park Ave.<\/li>\n<li>$50 million capital investment<\/li>\n<li>Updates include a glass-walled building expansion with new art and public spaces as well as renovations to the art museum improve accessibility and interconnectivity.<\/li>\n<\/ul>\n<\/li>\n<li>Pioneer Tower Renovation (completed 2019)\n<ul>\n<li>888 SW 5<sup>th<\/sup> Ave<\/li>\n<li>$2 million capital investment<\/li>\n<li>Renovations to the 17-story tower included a full lobby remodel including upgraded features and furniture.<\/li>\n<\/ul>\n<\/li>\n<li>Moda Tower Renovation (under construction)\n<ul>\n<li>601 SW 2<sup>nd<\/sup><\/li>\n<li>Renovations to the 24-story tower include an updated lobby, added conference space, and a bicycle room.<\/li>\n<\/ul>\n<\/li>\n<li>Newberry Building Renovation (under construction)\n<ul>\n<li>617 SW 4<sup>th<\/sup> Ave<\/li>\n<li>Renovations include a new office entry and lobby, new windows, and new bike parking and shower facilities<\/li>\n<\/ul>\n<\/li>\n<li>Meier &amp; Frank Building Renovation (completed 2018)\n<ul>\n<li>555 SW Morrison St.<\/li>\n<li>$16.6 million capital investment<\/li>\n<li>Renovations include the conversion of levels 2-5 to creative office space (now largely occupied by Portland State University), updates to the exterior, and 5 new ground floor retail spaces.<\/li>\n<\/ul>\n<\/li>\n<li>Galleria Building Renovation (proposed)\n<ul>\n<li>600 SW 10<sup>th<\/sup><\/li>\n<li>Renovations include a seismic upgrade, updates to office space on the top two floors, and addition of a 6<sup>th<\/sup>-floor penthouse.<\/li>\n<\/ul>\n<\/li>\n<li>Power + Light Building Renovation (completed 2018)\n<ul>\n<li>920 SW 6<sup>th<\/sup><\/li>\n<li>Renovations include a new grand entrance and custom furnishings and fixtures to create a historic creative office space.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>2&amp;Taylor<\/h2>\n<p>In 2015, Melvin Mark Companies worked with Henneberry Eddy Architects to renovate a three-story, 70,000 square-foot building at 110 SW Yamhill St. The project, branded <a href=\"https:\/\/images1.loopnet.com\/d2\/LC1lIx0Mybz-7NMzhKrOp3Gx0Y7iokmR3UZqQbLx2iM\/document.pdf\">2&amp;Taylor<\/a>, transformed the old Yamhill Marketplace into beautiful creative mixed-use office and retail space. With exposed ceilings, abundant natural light, open floor plans, and wood, glass, and steel features, the building is now a vibrant location for local businesses.<\/p>\n<p>Currently, 2&amp;Taylor is occupied by 40 LBS Coffee Bar, The Q Restaurant, and DLR Group. However, there is still 2,513 square feet of <a href=\"https:\/\/images1.loopnet.com\/d2\/WJmDl3UpqNn6g_74f_Pb5OKo65qGqH6zKsGUOoWKQUQ\/document.pdf\">retail space<\/a> available. The location boasts easy access to public transportation including the Yamhill District MAX station and several bus lines. It\u2019s also just two blocks from the Morrison Bridge, offering a convenient link to I-5, I-84, inner Southeast, and the rest of eastern Portland.<\/p>\n<p>2&amp;Taylor also has an 8,000 square-foot rooftop patio for tenants to enjoy and received two Green Globes for meeting environmental performance certification standards. In addition, it\u2019s positioned near a variety of bars, restaurants, shopping, and other amenities as well as green spaces like Tom McCall Waterfront.<\/p>\n<p>\u201cI love that there are so many new projects in this area,\u201d says Melvin Mark retail broker Nicole Onder. \u201cThis section of downtown Portland is seeing significantly more mixed-use developments and is increasing in density, so there\u2019s a high demand for good restaurants and retail services. With the solid tenant mix that\u2019s already at 2&amp;Taylor, the area is an ideal location for traffic.\u201d<\/p>\n<p>If you\u2019re interested in the space available at 2&amp;Taylor, please contact Nicole Onder (licensed in OR) at <a href=\"mailto:nonder@melvinmark.com\">nonder@melvinmark.com<\/a> or 503-546-4540.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3274 size-large\" src=\"https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2918-1024x683.jpg\" alt=\"2&amp;Taylor\" width=\"640\" height=\"427\" srcset=\"https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2918-1024x683.jpg 1024w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2918-512x341.jpg 512w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2918-150x100.jpg 150w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2918-768x512.jpg 768w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2918-1536x1024.jpg 1536w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2918-2048x1365.jpg 2048w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2918-1920x1280.jpg 1920w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3275 size-large\" src=\"https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_15A0430-1024x683.jpg\" alt=\"2&amp;Taylor\" width=\"640\" height=\"427\" srcset=\"https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_15A0430-1024x683.jpg 1024w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_15A0430-512x341.jpg 512w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_15A0430-150x100.jpg 150w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_15A0430-768x512.jpg 768w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_15A0430-1536x1024.jpg 1536w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_15A0430-2048x1365.jpg 2048w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_15A0430-1920x1280.jpg 1920w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-3276\" src=\"https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2914-1024x683.jpg\" alt=\"2&amp;Taylor\" width=\"640\" height=\"427\" srcset=\"https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2914-1024x683.jpg 1024w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2914-512x341.jpg 512w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2914-150x100.jpg 150w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2914-768x512.jpg 768w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2914-1536x1024.jpg 1536w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2914-2048x1365.jpg 2048w, https:\/\/melvinmarkcompanies.com\/wp-content\/uploads\/2019\/11\/2019_MM_BRAND_6Z5A2914-1920x1280.jpg 1920w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<h2>Other Melvin Mark Properties<\/h2>\n<p>At Melvin Mark, we\u2019re happy to own or manage several buildings in the downtown central area. In addition to 2&amp;Taylor, we own, lease, or manage:<\/p>\n<ul>\n<li><a href=\"https:\/\/images1.loopnet.com\/d2\/631tA3GKSvt_qwjQBYnQJdiJe6sYcC5o6-0W58PGjn4\/document.pdf\">Broadway Building<\/a> (625 SW Broadway)\n<ul>\n<li>Space available: 4,626 SF on 5th floor<\/li>\n<\/ul>\n<\/li>\n<li>Hilton Ex Tower &amp; Garage (525 SW Taylor St.)<\/li>\n<li><a href=\"https:\/\/images1.loopnet.com\/d2\/9kNhz83qoRQ20uDhCOGOulps6k7rpmkR9Icbb7_5BRQ\/document.pdf\">Pioneer Park Building<\/a> (715-719 SW Morrison St.)\n<ul>\n<li>Space available: 3,654 SF across 6<sup>th<\/sup> &amp; 7<sup>th<\/sup> floors<\/li>\n<\/ul>\n<\/li>\n<li>Portland Community College Downtown Center (722 SW 2<sup>nd<\/sup>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The city of Portland is amid its biggest development boom since the 1980s, and one area that\u2019s seeing significant change &#8230;<\/p>\n","protected":false},"author":18,"featured_media":3272,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5,70],"tags":[46,47,58,73,77],"class_list":["post-3268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-neighborhood-series","tag-2taylor","tag-yamhill-historic-district","tag-retail-space","tag-for-lease","tag-downtown"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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