Wood Partners, LLC, a US-based real estate company, has formed a partnership with Hoyt Street Properties to develop an $80 million high-rise residential tower in Portland, Oregon.
The project will be developed in the Pearl District of downtown Portland in proximity to Fields Park and involves development of a 21-storey residential block, which will offer 250 residential units. The development will be designed by Boora Architects, while the construction will be undertaken by a third-party construction company.
The construction work on the residential tower is scheduled to commence in late 2013, subject to approval by the city council and land closing. The site is a part of Hoyt Street Properties' master plan for its properties in the Pearl and will be the first rental property built on the Fields Park. The project is first of its kind to be built in the Pearl District in the last four years.
Based in Marietta, Georgia, US, Wood Partners is a real estate company that acquires, develops, constructs and manages high density and mixed-use communities.