Several months ago BOORA Architects unveiled a condo project in Southeast Portland (near 12th and Belmont) called The Standpoint. It was designed to become the first multifamily residential building in the country to achieve the coveted 'Platinum' LEED rating from the US Green Building Council. Renderings showed a facility bathed in natural light while also achieving a careful balance of fitting into its residential context while still of a compelling form.
But then tragedy struck. One of the primary investors in the project passed away. And now both the land and the project are for sale. The only hope for The Standpoint to be built is for another developer to take on the project.
Unlike most condo/apartment projects in town, The Standpoint was funded entirely by private investment. In other words, no banks or real estate investment trusts were part of the funding package, and therefore BOORA was free to design the project without the usual rigid FAR ("floor-area-ratio") structures hemming in their creativity. Unfortunately, now that is precisely what might scare off some investors. But rest assured, a developer can still make a profit on this project. And as projects like the Belmont Lofts have proven, Southeast Portland has become a viable market for condos.
Take a look at the enclosed renderings. I think they will show The Standpoint to be an excellent piece of architecture that would be a huge disappointment should it fall into the graveyard of eternally unbuilt projects. But it needn't be so. Whether it's Williams & Dame, Gerding/Edlen, Robert Ball, Randy Rapaport, Trammel Crow, Beam, John Carroll, Shiels/Obletz/Johnsen, or any of the developers in town, I urge somebody to take the reins of The Standpoint and make it happen.
Wow! that's 2 blocks from my work. isn't that the old Monte Carlo site? I hope that it gets the green light that would be awesome for the neighborhood. It would be cool is if they included a grocer that sold produce. there really is nothing between 23rd and hawthorne and Sheridan's on MLK (unless you count plaid pantry).
Posted by: Mike Conroy | October 03, 2005 at 04:01 AM
It's not the old Monte Carlo site. That's on Belmont and about 12th. This is actually more like 12th and Taylor. But I agree that somebody really ought to take advantage of the sight you mention as well.
Posted by: Brian | October 03, 2005 at 09:18 AM