Regions West
Financing in Place for Portland Industrial Property's Transformation
July 18, 2008

An historic Portland warehouse building is on track to evolve into a mixed-use property now that HomeStreet Capital has provided ConoverBond Development with $10 million in financing for the project. Developed in 1923, the vacant General Automotive Building occupies a spot near a new light rail line in the city's Pearl District. While referred to as a single building, the property actually consists of a two-story structure and a three-story structure that will be linked together in the redevelopment process. The finished product will consist of a single five-story structure encompassing 37,000 square feet of office space and 7,500 square feet of ground-level retail space. Fortis Construction Inc. is onboard as contractor and SERA Architects Inc. is behind the design of the project, which will adhere to standards necessary to achieve LEED Silver certification.

 
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