You may have noticed a new addition rising into the Portland skyline. Block 216, located between SW Alder and Washington streets and SW 10th and 9th avenues, is especially eye-catching when you’re driving across the Morrison Bridge.
For those still wondering what exactly this tower will be, we reached out to developers BPM Real Estate Group for the project’s latest updates and some high level — we’re talking 460 ft tall — things to know.
🏙️ When construction is completed in spring 2023, Block 216 will be tied with Park Avenue West as the fourth tallest building in the city.
🏗️ The 1 million-sqft mixed-use tower is the largest private sector project in downtown Portland since the completion of the US Bancorp Tower — also known as “Big Pink” — in 1983.
⭐ The building will host the first Ritz Carlton in the PNW — also the city’s first five-star hotel. It will feature 251 rooms, a 19th floor indoor pool, 7,000-sqft luxury day spa, and a state-of-the-art 7,500-sqft fitness room.
🍽️ An 8,300-sqft food hall (with space for nine vendors) will be built on the ground floor, as part of a $3 million complete rebuild of SW 9th Avenue. The “festival street” will focus on food, bike + pedestrian access, and represents the first link in The Green Loop, a six-mile linear park that will encircle the urban core of Portland.
💰 Block 216 is expected to create 2,000+ living wage jobs. At stabilization, the project will increase the property’s current level of income and city/county tax revenue from $160,000 per year to over $10 million annually, funding vital city and county services. The developer is also paying $25 million in permitting + systems development fees, plus a record-breaking $8.1 million single payment to the Portland Housing Bureau in affordable housing fees.
🦞 The future 20th floor fine-dining restaurant, which will offer views of the Cascades and the Willamette River, is in the final stages of hiring a general manager. Ritz Carlton and Marriot Luxury Service’s culinary team will make the decision, with direction on chefs + cuisine to follow soon after.
🏢 Five floors of premium office space will be available, with each level boasting beautifully landscaped + exclusive terraces, functional layouts, and designated tenant elevators. No leases have been signed, but law firms, financial service + IT companies are showing interest.
🤵 The upper 15 floors will contain 132 Ritz Carlton co-branded luxury condominiums.
🚙 A large port cochere on SW Washington Street will lead to five and a half underground levels that offer 361 parking stalls, including 107 valet spaces. Ritz Carlton Residences owners will be allocated 146 spaces, with the remaining to be used by hotel + office employees. Subject to availability, parking will also be open to the public.