Hassalo on Eighth
A neighborhood development project in Portland’s Llloyd District – one of five “ecodistricts”planned in the Portland area – will bring more than 600 new residences and dozens of local businesses to create a “24-hour neighborhood” in an area currently characterized by office buildings and parking lots.
Stakeholders and local officials including Portland Mayor Charlie Hales attended a Sept. 17 ceremony across the street from where the ecodistrict is under construction. As part of the ceremony, project financier American Assets Trust, a San Diego-based real estate investment trust (REIT), unveiled the name and logo for the project, created by Portland’s Wieden+Kennedy. Hassalo on Eighth, as it’s called, is slated for completion in 2015.
The project further cements American Assets Trust as a major player in Portland commercial real estate, with its investment in the city now at roughly “half a billion dollars,” according to OregonLive.com.
Designed by Portland’s GBD Architects, Hassalo on Eighth is gunning for LEED Platinum certification. With 657 residences, nearly 600,000 square feet of residential space and 32,000 square feet of retail, the project involves a number of sustainable technologies, including recycling and reuse of all of the residential building’s water. Also planned is a 26,000 square foot “anchor tenant,” which may be a grocery store (New Seasons Market?) for new residents.
“We are repairing the urban fabric of the Lloyd District by transforming parking lots into a 24-hour neighborhood,”said GBD Director Gene Callan. “Our plan is to build a neighborhood that offers a variety of housing options and retail spaces that can cater to a wide range of people and businesses.”
Portland is not currently known for having much of a “24-hour” vibe in any of its urban neighborhoods.
“Portland is a city of neighborhoods,” added John Chamberlain, American Asset Trust’s president and CEO. “All of them are distinct, but what makes them great is their human scale —they are places you can walk with your dog or your family, where you can get a great cup of coffee or an incredible meal, where you can shop for groceries or stop by the cleaners. This project is about returning that human scale to the Lloyd District.”
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