King + Parks Apartments Update: April 2018

April 16, 2018 · by Travis Phillips · New Construction, PCRI

Rendering of King + Parks Apartments, as viewed from NE Highland Street looking east.

During the past several months, PCRI been working to secure additional financing resources to advance the development of the proposed King + Parks Apartments. Federal corporate tax reform reduced the value of private investment in the development, necessitating additional sources of capital.

Although development activity has been paused while PCRI confirms financing for the development, neighbors and passers-by may noticed activity on or around the site. Current construction activity is related to the city’s sewer repair projects. Sewer line construction on NE Rosa Parks Way is scheduled beginning Friday, April 20 for approximately one week. Additional activity on the development site is focused on equipment and materials related to other sewer repair work. More information about sewer repair status can be found here: https://www.portlandoregon.gov/bes/72103.

For development of the King + Parks Apartments, PCRI is targeting summer 2018 to submit to the City of Portland for building permits and is targeting late fall to begin construction. Currently, design and development plans are still being refined, based on neighborhood and community feedback as well as functional and cost considerations. PCRI and its design team haveĀ also been working with community artists and the neighborhood association for concepts that would integrate a Rosa Parks art installation into the building and how this could also potentially provide a stronger statement to the design.

PCRI will continue to provide updates as the design is refined and as the project moves closer to construction. For additional updates and information click HERE.

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