Comparative Case Studies of Orenco Station TOD and Station Park
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The Greater Salt Lake Area Multifamily Market
THE GREATER SALT LAKE AREA MULTIFAMILY MARKET THE MOST COMPREHENSIVE MULTIFAMILY REPORT | 2019 REVIEW + 2020 OUTLOOK PREFACE TABLE OF CBRE is pleased to release the 2020 Greater Salt Lake Area Multifamily Market Report, the most current and comprehensive CONTENTS multifamily data available for the Salt Lake Area/Wasatch Front market. Produced by Eli Mills and Patrick Bodnar of CBRE, this report has been assembled to empower the decision making of multifamily professionals active in the Utah market. This report has been prepared with current data sourced from a survey of over half the multifamily market (60,000+ units) along the Wasatch Front Area inclusive of Salt Lake, Utah, Davis and Weber Counties. Minimum reporting requirements were identified for each city and county by class, type and size. Data contributions and validations to this publication were made by: • CBRE Research • Utah Department of Economics • CBRE Econometric Advisors • University of Utah Bureau of Economics and Business Research • Yardi Matrix • Construction Monitor • Axiometrics • CoStar • Western States Multifamily Whatever your multifamily needs may be, please reach out to us. CBRE has the most comprehensive data on the market and can provide information on a macro or micro level based on class, city, submarket, zip code, location, age, size, proximity to rail stops, and many other variations. CBRE consistently leads the market, with national multifamily investment sales totaling over $33.3 billion in 2019 (Source: Real Capital Analytics). As the leader in multifamily sales every year since 2001, the exposure of CBRE is second-to-none. With 65 locations and over 300 multifamily professionals, including direct lending services, CBRE’s unparalleled multifamily platform has a competitive presence in Utah and an enhanced investment reach into the multifamily space, providing our clients with the greatest market exposure available. -
HIO Landing, Hillsboro, Oregon, NAIOP Workshop Project
Portland State University PDXScholar Real Estate Development Workshop Projects Center for Real Estate Summer 2018 HIO Landing, Hillsboro, Oregon, NAIOP Workshop Project Alex Annand Portland State University Melissa Beh Portland State University Marcus Bush Portland State University Marcela Harden Portland State University Kelly Redden Portland State University See next page for additional authors Follow this and additional works at: https://pdxscholar.library.pdx.edu/realestate_workshop Part of the Real Estate Commons Let us know how access to this document benefits ou.y Recommended Citation Annand, Alex; Beh, Melissa; Bush, Marcus; Harden, Marcela; Redden, Kelly; and Winterberg-Lipp, Ryan, "HIO Landing, Hillsboro, Oregon, NAIOP Workshop Project" (2018). Real Estate Development Workshop Projects. 23. https://pdxscholar.library.pdx.edu/realestate_workshop/23 This Report is brought to you for free and open access. It has been accepted for inclusion in Real Estate Development Workshop Projects by an authorized administrator of PDXScholar. Please contact us if we can make this document more accessible: [email protected]. Authors Alex Annand, Melissa Beh, Marcus Bush, Marcela Harden, Kelly Redden, and Ryan Winterberg-Lipp This report is available at PDXScholar: https://pdxscholar.library.pdx.edu/realestate_workshop/23 HIO LANDING HILLSBORO AIRPORT REDEVELOPMENT PROPOSAL PORTLAND STATE UNIVERSITY SUMMER 2018 WORKSHOP THIS PAGE INTENTIONALLY LEFT BLANK TABLE OF CONTENTS INTRODUCTION 4 ACKNOWLEDGEMENTS 5 EXECUTIVE SUMMARY 7 TEAM PROFILE 8 STAKEHOLDERS 10 THE SITE 18 COMMUNITY CONTEXT 25 MARKET ANALYSIS 35 DEVELOPMENT PROPOSAL 55 FINANCING PLAN 76 IMPLEMENATION PLAN 90 RECOMMENDATIONS AND CONCLUSIONS 98 WORKS CITED 102 INTRODUCTION The Master of Real Estate Development (MRED) program at the Portland State University School of Business is a gradu- ate program that combines disciplines that include urban planning, environmental studies, finance, and real es- tate. -
Winter 2010 Updates
Updates Washington County Department of Land Use and Transportation 155 North First Avenue - Suite 350 Hillsboro, Oregon 97124-3072 We are REACHing for excellence in customer service. A Community Newsletter Updates Winter 2010 of Washington County’s Department of Land Use and Transportation To find the Updates newsletter on the county web site, go to http://www.co.washington.or.us/News/Newsletters Si a usted le interesa recibir este boletín de noticias en español, comuníquese To subscribe to this newsletter electronically, go to con Angie Aguilar al 503-846-7819, o http://washtech.co.washington.or.us/subscriptions/ via correo electrónico: angie_aguilar@ co.washington.or.us. Gracias. You may also follow county road news on Twitter http://twitter.com/washcoroads Night Time Crews Ready to Roll You have been asking… about north/south infrastructure – Rather than calling folks to come in early we need more of it! when winter weather threatens the morn- ing commute, would it be more efficient to It is a fact that 70% of the traffic in Washington County stays within the county, much of have a road maintenance night crew on duty, it traveling north and south, and Highway 217 is often over capacity. Washington County ready to de-ice and sand roads? began as a farming community; roads were farm to market - east/west, connecting our towns and farms with Portland. Fewer north/south connections were built. Also eastern Washing- ton County is quite hilly, which does not make for an easy grid system. And since the 1970’s the county has not allowed the “undergrounding” of streams (burying them in long culverts). -
STUDY AREA #1 HILLSBORO-BETHANY Overview
STUDY AREA #1 HILLSBORO-BETHANY Overview 2010 2035 Growth Growth % Households 17,614 21,339 3,725 21% Employment 28,491 50,506 22,015 77% Summary About 75% of households are within ½ mile of regional destinations such as schools, shopping centers and major employers – slightly above county urban area average. Employment is expected to increase 77% by 2035, while households increase 21%. HILLSBORO-BETHANY CONNECTIVITY Study Area #1 Findings Street network and intersection density is below county urban area average. Roads and intersections are generally far apart, due in part to large industrial properties in the study area. Roads have relatively few dead-ends or cul-de-sacs. ACTIVE HILLSBORO-BETHANY TRANSPORTATION Study Area #1 Crossing Spacing on Major Streets Average: 0.26 miles Longest: 0.97 miles on Sunset Highway Findings Trail and Sidewalk coverage is better than county urban area average. However, critical gaps remain on Rock Creek and Waterhouse Trails. Bike facility coverage is slightly below county urban area average. Several arterials, including NW 185th Avenue and Cornell and Evergreen Roads, were improved to county standard in the past 15 years. However, several major gaps in the sidewalk and bike lane network remain, including West Union Road. Crossing spacing on Sunset Highway and Brookwood Parkway are well over typical (¼ mile). HILLSBORO-BETHANY MODE SHARE Study Area #1 2010 Mode Share 2035 Mode Share 4% 2% 4% 3% 9% 8% 48% 51% 35% 37% Drive Alone Drive Share Transit Walk Bike Drive Alone Drive Share Transit Walk Bike Active and Transit Modes (Combined) Non-SOV Mode Share Change from 2010 to 2035 Regional Target Findings Forecasted 2035 mode shares are relatively consistent with 2010. -
Meadow View Phase 2, Farmington, Utah
Meadow View Phase 2, Farmington, Utah Built for the Way You Want to Live! www.MeadowViewUtah.com Great Farmington Location Meadow View Phase 2 is conveniently located in Farmington within 1 mile of the new Station Park shopping district and the Farmington UTA Frontrunner station. Leave your car at home and enjoy a comfortable trip into downtown Salt Lake City for work or play. Enjoy the open air living of Meadow View with panoramic views on large basement lots with the amenities of Station Park—shopping, restaurants, parks and schools all less than two miles away. For more information, or a personal tour contact: Sarah Mayer 801.218.2885 [email protected] Model Home coming soon! Get news and updates Watch video tours on Facebook on YouTube Information is subject to change without notice. © ClearWater Homes. All rights reserved. Front Porch Lighting Front Porch Get More For Your Dollar Panoramic 2-Tone Paint Window Walls Expansive Low-E Energy Efficient Windows 6 Inch Wooden Base Boards Window Sills Pendant Lighting * Energy Efficient Lighting 6 Inch Trim Shaker Panel Beech Cabinets 8 Foot Doors On Main Floor 42” Upper Cabinets Moen Fixtures With Crown Molding Transom Window * Stainless Steel Sink Kwikset Satin Nickel Hardware Luxury Laminate Wood Floors 3cm Granite Countertops Stainless Steel Appliances Trash Pull Out “*” Optional Upgrade Items 42” Shower with Cultured Marble Surround Oversized Kohler Soaker Bathtub Generous 5-Piece Master Baths 3cm Granite Counters Moen Fixtures Tile Floors Shaker Panel Beech Cabinets Built to Conserve Energy An energy efficient home is a more comfortable home. Insulation is a critical component to an energy efficient home and Clearwater Homes implements several techniques into our building process to ensure maximum insulation. -
Hillsboro 2035 Community Plan Guides City's Future
CITY VIEWS NEWS & EVENTS FOR THE CITY OF HILLSBORO September/October 2015 Hillsboro 2035 Community Plan Guides City’s Future Read the Complete Plan at Hillsboro2035.org Years of planning and help from thousands of community members have led to the completion of the Hillsboro 2035 Community Plan, which is available online at www.Hillsboro2035.org. The Hillsboro City Council approved the plan in late July before it was “unveiled” and distributed at Celebrate Hillsboro. Based on input and ideas from more than 5,000 community members for the future of Hillsboro, the Hillsboro 2035 Community Plan includes a vision of what people want Hillsboro to look like by the year 2035, and an action plan for getting there. The Hillsboro 2035 Community Plan builds on the success of the Hillsboro 2020 Vision and Action Plan, the original, award-winning plan, which led to many community enhancements, including Hondo Dog Park, community gardens, the Hillsboro Civic Center and Tom Hughes Plaza, and youth after-school programs. Residents, employees, businesses, and community organizations all weighed in with ideas for the future of Hillsboro. continued on page 2 MAYOR’S MESSAGE Ready to Volunteer? HillsDoer Day is October 3 Did you know that in 2014, more than 4,000 volunteers served 64,270 hours in Hillsboro? That’s incredible! Think of how those volunteers helped our Parks & Recreation, Library, Fire, and Police departments to deliver an even higher level of service. Others volunteered on City boards and commissions, at special events, or with community non-profit organizations. In August, the City held the 2nd Annual Volunteer BBQ at Shute Park to show appreciation to all City Mayor Jerry Willey volunteers, but the truth is, we cannot thank you enough for your service. -
Cedar Mill Business Roundup
Like us on Facebook FREE for timely updates Sign up to get The News online: Cedar Mill News cedarmillnews.com/ Volume 18, Issue 1 January 2020 signup Washington County joins Park district acquires 25 acres Salmonberry Trail group on Laidlaw by Shawna Muckle, CMN student berry Trail is described as a “non- Tualatin Hills Park & Recre- cousins would gather after church intern motorized, mixed-use recreation ation District (THPRD) an- for a barbecue. There was a swim- Washington County reached an path” that will span a total of 86 nounced in December that it had ming hole in the creek. The original agreement in December 2019 to be- miles. Beginning in flat farmland used some of the funds remain- farm stretched from Laidlaw to come a voting member of the Salm- in and around Banks, the trail will ing from the 2008 Bond Measure Thompson.” onberry Trail Board of Directors, an weave through the Tillamook State organization involved in planning Forest to Wheeler, a town north of the construction of a walking and Tillamook on the Oregon Coast, biking trail that will eventually run where the trail will then steer south from Banks to Tillamook. through several coastal towns The Salmonberry Trail is before terminating at the Tillamook currently in the initial stages of Air Museum. development, with a Concept Plan The trail is intended for use by released in spring 2015. Making use walkers, bikers, and equestrians, as of now-defunct portions of the Port well as local hunters and fishers. In of Tillamook Bay railroad corridor, order to organize development of the trail, the Salmon- berry Trail Intergov- ernmental Agency (STIA), a network of public and private interests involved in planning the trail, to purchase 25 acres from Ken As more people began to move was established in Findley. -
Orenco Station Town Center for Lease | Hillsboro, Oregon
ORENCO STATION TOWN CENTER FOR LEASE | HILLSBORO, OREGON Location Cornell Rd & Orenco Station Pkwy in Hillsboro, OR Available Space 1,540 SF Rental Rate $30.00/SF/YR, NNN Comments Beautiful retail shop space available at Portland’s award-winning suburban mixed-use development. Anchored by New Seasons, Orenco Station Town Center is surrounded by vibrant neighborhoods, major employers such as Intel, and other high-volume retailers such as Costco, WinCo, Kohls & Walgreens. Traffic CountS Cornell Rd – 29,388 ADT (17) Demographics 1 MILE 3 MILE 5 MILE Estimated Population 2018 14,288 120,718 243,964 Population Forecast 2023 14,980 126,440 255,680 Average HH Income $106,284 $96,334 $100,403 Employees 15,376 47,383 91,642 Source: Regis – SitesUSA (2018) CRA Commercial Realty Advisors NW LLC JEFF OLSON 733 SW Second Avenue, Suite 200 503.274.0211 Portland, Oregon 97204 www.cra-nw.com [email protected] Licensed brokers in Oregon & Washington The information herein has been obtained from sources we deem reliable. We do not, however, guarantee its accuracy. All information should be verified prior to purchase/leasing. View the Real Estate Agency Pamphlet by visiting our website, www.cra-nw.com/real-estate-agency-pamphlet/. CRA PRINTS WITH 30% POST-CONSUMER, RECYCLED-CONTENT MATERIAL 7,600 Seats HILLSBORO, OREGON 1,000 Employees NE Evergreen Pkwy NE Evergreen Pkwy JONES FARM 6,019 Employees FEI TANASBOURNE RONLER ACRES TOWN CENTER 7,043 Employees STREETS OF NE Cornell Road 1000 Employees TANASBOURNE Hillsboro Airport ORENCO STATION TOWN CENTER SITE -
Utah's 2011-2040 Unified Transportation Plan
2011 - 2040 udot.utah.gov 131949.indd 1 7/31/13 2:23 PM UTah’S UNifieD PLaN ParTNerS CaChe MPO 179 North Main, Suite 305 Logan, UT 84321 (435) 716-7154 www.cachempo.org Dixie MPO 1070 West 1600 South, Bldg. B St. George, UT 84770 (435) 673-3548 www.dixiempo.org MOUNTaiNLaND aSSOCiaTiON Of GOverNMeNTS 586 east 800 North Orem, UT 84097 (801) 229-3800 www.mountainland.org UTah DeParTMeNT Of TraNSPOrTaTiON Systems Planning and Programming 4501 South 2700 West – Box 143600 Salt Lake City, UT 84114 (801) 965-4129 www.udot.utah.gov UTah TraNSiT aUThOriTy 669 West 200 South Salt Lake City, UT 84101 (801) 262-5626 www.rideuta.com WaSaTCh frONT reGiONaL COUNCiL 295 North Jimmy Doolittle road Salt Lake City, UT 84116 (801) 363-4250 www.wfrc.org 131949.indd 2 7/31/13 2:23 PM TaBLe Of CONTeNTS introduction 2 - Letter from the Chairs of the Utah Transportation Commission and Utah’s Metropolitan Planning Organizations (MPOs) - Letter from the Directors of the Utah Department of Transportation (UDOT) and Utah’s MPOs - Purpose of Unified Transportation Planning UDOT’s Long range Plan 8 Utah MPO Long range Plans 12 - Wasatch Choices 2040 (Weber, Davis, Salt Lake and Utah Counties) - envision Cache valley (Cache County) - vision Dixie (Washington County) Utah’s Population Growth Challenge 16 Utah’s Project Planning & funding Process 20 - Project Development Process - Utah’s Transportation Needs and Preferences - financial Plan and assumptions - Continuous, Cooperative and Comprehensive Planning highway Projects by region 34 regionally important Transportation Projects 34 Utah highway Projects Map 35 highway Projects Phase One (2011-2020) 36- 41 highway Projects Phase Two (2021-2030) 42-46 highway Projects Phase Three (2031-2040) 47-50 highway Projects Unfunded 51 -52 Cache valley highway Projects Map 53 Wasatch front Ogden/Layton area highway Projects Map 54 Wasatch front Salt Lake valley highway Projects Map 55 Utah valley area highway Projects Map 56 Dixie area highway Projects Map 57 Transit Projects by region 58 Transit Projects Phase One (2011-2020) 59. -
Utah Solar Home Tours Begin This Weekend in Davis County Memorial Day Events Bulk Purchase Makes Solar
L OCAL N EWS • P EOPLE • B USINESS • S CHOOLS • S PORTS • E VENTS See Inside DavisThe Clipper 75 cents THURSDAY, MAY 28, 2015 ADVERTISMENT Utah Solar Home Tours begin this weekend in Davis County Memorial Day events Bulk purchase makes solar BECKY GINOS LOUISE R. SHAW, A1 affordable for homeowners Last year, over 24 million solar panels were installed in the United States. Still, many Race unites homeowners are still wondering if solar really works, if it makes families fi nancial sense, and how those who’ve put solar panels to work Annual 5K offers in their homes and businesses support for grieving feel about it. Now, Davis County residents families, friends. can fi nd out from their neigh- LOUISE R. SHAW, C1 bors and peers. The Utah Solar Home Tour, featuring locations about Davis, Weber and Cache Counties, runs this Friday and “We can match any home and Saturday. Friday hours are 4 to 8 any budget to make solar work for Tour of p.m., with Saturday tour hours 10 everyone,” Shipley said. a.m. to 4 p.m. The tour is hosted There is a deadline, as bulk by the Intermountain Community purchasing ends on June 30. Utah coming Shipley said solar is an investment The federal incentives for solar is hosting a solar workshop to Solar Initiative. power conversion are currently 30 provide answers to basic ques- “This is a great opportunity for “better than any stock or mutual Cycling event stage fund you could put your money percent, and there are state incen- tions and educate attendees about people to go and see real homes tives as well. -
The Nexus Insert Photo Here Hillsboro, Oregon
The Nexus Insert photo here Hillsboro, Oregon Transit-oriented development Project Profile The Nexus creates an active pedestrian- due to its immediate location on the friendly streetscape that links the Westside MAX light rail line. Its location nationally recognized Orenco Village effectively reduces the nearest transit on Cornell Road to the Orenco Station connection distance from half a mile to a MAX light rail station. Nearly half of all mere 200 feet. units offer large two- and three-bedroom spaces making the Nexus a family-friendly transit-oriented development targeted AT A GLANCE toward young professionals with children. Location 1299 Orenco Station Pkwy., The Nexus is walking distance to all of Hillsboro the shops, restaurants, entertainment and parks that Orenco Station has to offer. Status Completed 2007 Total development cost $50 million Until 2012, The Nexus was the largest TOD project in the Portland region. It TOD program funding $301,475 consists of 422 rental units, 7,100 square Mixed uses 422 housing units, 7,100 SF feet of ground floor retail along Orenco of ground floor retail, and a 4,500 square Station Parkway and a 4,500 square foot foot clubhouse clubhouse, including a conference center, fitness center, theater and lounge. The Building Three stories project has a density of 40.5 dwellings Parking 283 tuck-under parking spaces, units per acre, which is relatively high 425 surface parking spaces compared to the typical suburban three- Site 10.42 acres story garden apartment. Density 40.5 dwelling units per acre The Nexus enhances the transit access Increased transit ridership 72,109 annual www.oregonmetro.gov and orientation of the rest of the New trips Urbanist development at Orenco Station Frequent Service ## Bus stop Orenco Station/ MAX NW 231st Ave NE Cornell Road MAX LightRail Transit Station Clean air and clean water do not stop at city limits Nexus or county lines. -
Orenco Station Town Center 6111 - 6221 Ne Cornell Rd, Hillsboro, Or 97124 Orenco Station Town Center
ORENCO STATION TOWN CENTER 6111 - 6221 NE CORNELL RD, HILLSBORO, OR 97124 ORENCO STATION TOWN CENTER Orenco Station Town Center is a mixed-use development located in Hillsboro, Oregon, approximately 15 miles west of Portland. It is part of the award-winning master-planned Orenco Station, a suburban community focused on pedestrians and light-rail commuting. Orenco Station Town Center is the commercial centerpiece to the project. Orenco Station Town Center is situated on 11.93 acres and totals 125,503 square feet of space. The bustling Main Street offers shops like Nature’s Pet and Renaissance Wines as well as restaurants Swagath’s, Orenco Station Grill and Yuki Sushi & Sake Bar. Services for nearby residents and employers include New Seasons Market, Nature’s Pet, Windermere West, Umpqua Bank and Tuality’s Orenco Station Medical Group. New Seasons Market and Kitchen Kaboodle are located at the Center’s west end. As locally-owned businesses, they offer unique products with outstanding customer service. BRIGHTON DRIVE Owned Owned Owned by Others by Others by Others Owned Owned Owned by Others by by Others Others 1 2 AVENUE NE 63rd NE 61st AVENUE NE 61st 5 Tuality’s Orenco Station 4 Medical Group New Seasons Kitchen Kaboodle PARKWAY NE ORENCO STATION 3 CORNELL ROAD ORENCO STATION TOWN CENTER Hillsboro, Oregon 97124 Features BUILDING KEY • Mixed-use development 1. 1323 - 1341 NE Orenco Station Parkway • 125,503 square feet of retail, offi ce & medical space 2. 1320 - 1322 NE Orenco Station Parkway • 15 miles west of Portland 3. 6111 - 6125 NE Cornell Road • Within walking distance of TriMet’s Westside MAX Light Rail system 4.