The Park Blocks Development Site land offering is an incredibly rare opportunity to acquire a fully permitted development site at a prized location in downtown Portland.
Just minutes from the city’s Central Business District, Portland State University, and the Pearl District, the property has received permit approval for a seven-story, 53,000-square-foot multifamily building with 83 residential units. Plans include a ground-floor garage with 11 vehicle parking spaces, a residential lobby, leasing office and rooftop deck. All city permitting fees and development charges have been paid in advance.
The project sits on the picturesque South Park Blocks – an eight-acre stretch of lush park space with fountains, public plazas, and playgrounds. The South Park Blocks are also home to the Portland Art Museum, the Arlene Schnitzer Concert Hall, and the iconic Portland Farmers Market at PSU. The site is also located within downtown Portland’s federally designated Opportunity Zone — a tax incentive designed to encourage long-term investment in qualifying areas by offering significant savings on capital gains.