The Burnside Blog
Phase One of MLK Development Signals City-Wide Trend
The 42,000 square foot commercial condominiu project was slow to get off the ground, but developers unearthed the first shovel in late-2006. Fifteen months later, Martin Luther King Jr. Boulevard’s northern stretch has a true mixed-used developed that bucks the trend of tilt-up retail buildings and drive-throughs that have come to define that area. The development also helps to illustrate a city-wide trend of retail and office users increasingly gravitating toward ownership over tenancy of their commercial spaces outside of the downtown core.
Though Portland’s residential market is one of the three large market in the country that has managed to (barely) stay above water in the global housing-market crunch, it’s by no means as buoyant as the retail and office sectors. Even in a tight credit market, there several office and retail condominium developments in the works city-wide (More on that in the coming days). As one local appraiser tells me, business owners are willing to commit to Portland by purchasing the space in which they do business.
A PDC press release notes that 14 of the 16 commercial spaces have been purchased at Vanport Square, including 9 by woman and minority entrepreneurs. Of the mix, the Horn of Africa restaurant will take roost in the new development as will a seafood eatery called Hardshell, the work of celebrated Portland restaurateur Marco Shaw, chef and owner of Fife in the Beaumont Neigborhood of NE Portland.
The project has earned LEED Gold Accreditation.
By Andrew on Monday, January 28, 2008 at 01:10PM PST
Kevin, I agree about Phase 2. (PS Nutshell = vegan, Hardshell = seafood)
Also, I wonder if anyone has ever approached the owners of the buildings on the SE and SW corners of that intersection about re-opening them to the street. Right now, most of the old retail window spaces in those buildings have been filled in with concrete, which contributes to the very unfriendly streetscape environment.
By Kevin on Monday, January 28, 2008 at 01:20PM PST
Thanks Andrew, looks like Mr. Thelin updated the name from Nutshell to Hardshell.
By Francene on Monday, January 28, 2008 at 01:28PM PST
A meeting of the Vanport Project Advisory Committee has been scheduled for Thursday, January 31, 2008 from 6:00-7:00 p.m. at Oregon Association of Minority Entrepreneurs (OAME) N. Vancouver Ave. The agenda will consist of an update on Phases 2 and 3 of the project. If you have questions, the project manager is Bernie Kerosky (823-3459) or KeroskyB@pdc.us
By Mike Thelin on Tuesday, January 29, 2008 at 05:22PM PST
Thanks Kevin and Andrew for the comments, and for correcting my error.
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By kevin on Friday, January 25, 2008 at 09:33AM PST
Isn’t there already an eatery called Nutshell on N. Williams… Any idea when Phase II of Vanport is supposed to happen? This will bring some needed vibrancy to the corner of Albert and MLK.