Provenance Hotels is teaming with NBP Capital to complete a $30 million upgrade of two downtown buildings.
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Provenance Hotels is teaming with NBP Capital to complete a $30 million upgrade of two downtown buildings.
The partnership will eventually yield 150 more hotel rooms in Portland, according to a report by the Portland Business Journal.
NBP Capital is the majority partner in project. Arthur Mutal, a development company based in Portland, has invested alongside NBP and Provenance Hotels. Provenance Hotels will manage the hotel when it opens in 2016.
The adaptive reuse project will connect the Woodlark Building with the former Cornelius Hotel. The partners are exploring options for restaurant and bar partners by tapping into Provenance Hotels’ existing network in Portland and beyond. The purchase of the properties, which are both listed on the National Register of Historic Places, is the first joint acquisition by NBP Capital and Provenance Hotels. R&A Architecture & Design Inc., Freier Architekt and MCA Architects will oversee architecture on the project. Interior design will be done by Staicoff Design Company of Portland.
The impending construction of a convention center hotel is the subject of a story in the February issue of Oregon Business in which the president of Provenance Hotels says his company is doing “everything we can to protect our interest against a stupid hotel.”
In Bend, the city council is floating a plan that would allow neighbors to give input about living next to an Airbnb rental.
The Bend Bulletin reports:
Such a policy was recommended late last month by the city’s vacation home rental task force, which is crafting new rules to govern the industry. The City Council will have final say over the proposed regulations and is scheduled to consider them in March. The task force was formed in response to complaints from residents of River West and Old Bend who said their neighborhoods are overrun with rentals.
[Wednesday], the task force is scheduled to review draft code language prepared by city staff. The drafts are based on recommendations the task force members voted for last month. During the most recent meeting, much of their time was spentdiscussing rules intended to prevent the clustering of rentals in small areas. One proposal would allow 5 to 10 percent of houses to be rentals within an area extending 250 feet in any direction from a residential property line. The percentage range was a compromise, as a number of proposals between 5 percent and 20 percent were discussed.
