By Aman Chahal
Across the river from Portland’s Central Business District is the city’s rising close-in Eastside submarket: home to trendy restaurants and retailers, local and small-scale manufacturing, as well as vibrant creative-class office tenants.
Adding to this momentum is the development of a mixed-use multifamily and retail asset called LOCA. In terms of scale and investment, it is one of the newest developments currently underway in the city.
The developer is Vancouver-based Killian Pacific and financier JLL’s Capital Markets. Killian has done other remodels and buildings in the Central Eastside Industrial District (CEID).
This development is located in one of the city’s top submarkets that is increasingly attracting creative office space and tech tenants. Informally known as the “Goat Blocks” (a herd of goats having kept the grass mowed for many years), the project is composed of seven distinct buildings located across a three block, 133,000 square-foot site.
The site retains the neighborhood’s industrial heritage and honors its nuanced urban fabric. The Class A, LEED Gold-designed, mixed-use development will consist of 247 multifamily units and approximately 89,000 square feet of net retail space. It will also feature robust on-site parking ratios of 385 stalls for cars and 510 stalls for bikes.
The apartments feature their own architecture, interiors and amenities so as to appeal to distinct target markets and provide a boutique sense of place.
The retail is anchored by Market of Choice, a 26,000 square foot, Oregon-owned specialty grocery as well as a 40,000 square foot hardware store.