Prosper Portland sold Station Place Lot 5 to Williams and Dame Development in 2016. The proposed development, 9North, envisioned a nine-story building with approximately 167,000 rentable square feet of Class A office space plus 10,000-20,000 rentable square feet of retail space at the ground floor. The project is designed to achieve LEED Silver certification with flexibility to accommodate small tenants as well as multi-floor users.
Prosper Portland required that the property be developed as an office building, with ground floor retail, to provide space for new and expanding businesses and further stimulate the Portland economy. By activating the street frontages of both NW Northrup Street and NW 9th Avenue, 9North will provide an active and pedestrian-friendly streetscape at the northern gateway to the Pearl District. When completed the project is expected to generate approximately $250,000 per year in property tax revenues. Prosper Portland’s Equity and Green Building policies applied to the transaction.
The November 2015 opening of the Society Hotel on the corner of NW 3rd and Davis marked yet another milestone in the vision for Old Town/Chinatown as a safe, vibrant, economically healthy neighborhood.
River District is home to the flourishing Pearl District, Old Town/Chinatown, and the Broadway Corridor, a once-in-a-generation opportunity to demonstrate inclusive, sustainable, memorable and financially successful redevelopment.