Vancouver-based Killian Pacific intends to construct apartments, retail space, a parking garage and plazas on the Southeast Portland site known for its goats.
The 14-story Commonwealth Building in downtown Portland traded for $41 million in a deal that closed last month.
Portland home prices rose 13.5% in September from a year earlier.
More than half of the 144,000 Portland-area underwater mortgages are back in positive equity.
A creative office development proposed at the Burnside Bridgehead by Guerrilla Development Co. has reached its crowdfunding goal.