A long vacant corner lot is transformed into a mixed-use building with office, restaurant and retail.
THE PROJECT:
The intersection at Fremont Street and Martin Luther King Jr. Boulevard in Notheast Portland had long been the site of criminal activity and a long-vacant corner market. The location was identified by the City’s redevelopment agency as a potential gateway to the King neighborhood and the rapidly-changing Albina area.
The Fremont Building, completed in 2007 by local minority developers, incorporates 9,500 SF of ground floor restaurant and retail, upper-floor office space, and parking.
FINANCING:
- Total Project Cost: $3.8 million
- Total NMTC Allocation: $4.2 million
PROJECT PARTNERS:
- United Fund Advisors (Portland New Markets Fund I, LLC)
- Portland Development Commission
- Wells Fargo Community Development Corporation
- Fremont Partners, LLC
