Catalytic mixed-use building links Portland’s Central Business District with its vibrant Pearl District.
PROJECT LOCATION:
Portland, Oregon
THE PROJECT:
Rising 22 stories above Portland’s growing West End neighborhood, Twelve | West is a 550,000-square-foot mixed-use building highlighting the city's leadership in sustainable design. The LEED Platinum-certified building includes street-level retail space, four floors of ZGF’s Portland office, 17 floors of apartments, and five levels of below-grade parking. The building has an eco-roof, a rooftop garden and four wind turbines, which represent the first U.S. installation of a wind turbine array on an urban, high-rise.
PROJECTED COMMUNITY IMPACTS:
- An innovative financing strategy allowed for a “carve-out” of $5 million in tax credits for an offsite Head Start program in Portland.
FINANCING:
- Total Project Cost: $139.6 million
- PNMF Deployed Allocation: $29.0 million
- Total NMTC Allocation: $29.0 million
PROJECT PARTNERS:
- Portland New Markets Fund I, LLC (an affiliate of United Fund Advisors, LLC)
- Gerding Edlen Development Company
- US Bancorp Community Development Corporation
- Portland Development Commission (Proser Portland)
