August 13, 2020
Denver-based Continuum Partners reached a deal with Prosper Portland and the Portland Housing Bureau to redevelop northwest Portland’s Broadway Corridor and the U.S. Postal Service hub site. The Portland Board of Commissioners approved the land sale and development agreement with the developer, as well as a community benefits agreement with the coalition that will facilitate development of the transformational project between the Pearl District and Old Town Chinatown.
Continuum Partners’ Mark Falcone says, “We are excited to have reached this major milestone and come to agreement on the critical terms of the developer agreement and the community benefits.”
The 13.5-acre U.S. Postal Service property at 715 NW Hoyt was acquired by Prosper Portland and the city’s housing bureau four years ago. It has been incorporated into the 32-acre Broadway Corridor site now envisioned for a multiple-phase development spanning two decades and encompassing four million square feet that would accommodate roughly 2,400 new households and create space for 4,000 workers.
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