New Condo Options for First Time Buyers

Sep 23, 2006

Gerding Edlen plans to bring first-time homebuyers into the heart of downtown Portland with a 16-story residential tower

Proposed design for a new 16-story residential tower near PSU.

Gerding Edlen announced plans to build a 16-story building near Portland State University meant to interest first time buyers. The 354 entry-level condominiums are expected to sell for about $300,000, some even below $250,000 writes The Oregonian's Fred Leeson.

“Though Portland's first urban renewal area won numerous design awards, the 83-acre project failed to capture the urban vitality that planners seek today. The new building would sit just inside the western boundary of the old renewal district.”

“‘The goal is to bring a lot of life to this area,’ Hacker said. ‘We think it will significantly improve the quality of this part of the city.’”

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