Portland student housing project resurrected

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Wednesday, July 18, 2012

Plans for a large student housing project in downtown Portland are resurfacing with a new developer.

Opus Northwest originally proposed the 18-story, 380-unit high-rise building in 2008, but the project stalled when the company went bankrupt and left Portland in 2010. Now, Capacity Commercial Group, which partnered with Opus on the project’s original proposal, is trying again, this time with Arizona-based developer Phoenix Development Co.

Capacity decided to take another shot at the project because of the rising enrollment of nearby Portland State University, said Brian Owendoff, Capacity’s senior vice president. The school currently has close to 30,000 students, the most out of any university in the state. By 2030, that number is expected to inflate to 50,000.

Read more at The Daily Journal of Commerce.

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