Zidell family submits permits for South Waterfront office buildings


Documents filed with the city provide the blueprint for three parcels — two office spaces and one apartment building.

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BY JACOB PALMER | OB DIGITAL NEWS EDITOR

Documents filed with the city provide the blueprint for three parcels — two office spaces and one apartment building — along the South Waterfront.

According to a report by OregonLive.com’s Elliot Njus: The larger office building (246,000 square feet valued at $51 million) would be constructed south of the Tilikum Crossing, the soon-to-open commuter bridge. The other business space (113,000 square feet, $19 million) would be south of the Ross Island Bridge. Both buildings would be built without a pre-signed tenant.

The $15 million seven story apartment building would be south-west of the smaller office building.

From Njua’s report:

The documents, dated Feb. 5, suggest the Zidells’ ZRZ Realty was still considering moving forward with the development work without signing a development agreement with the city. The agreement would outline how the city would invest $27.4 million in infrastructure for the district, but negotiations have dragged on because of a hangup over affordable housing. The drafted development agreement would give the city the right to subsidize affordable housing in new residential buildings, but the Zidells have balked at that requirement.

Among their questions for city officials: whether project approval and necessary necessary street improvements could move ahead without a development agreement. Mazzocco said last week the company had “no news” on its negotiations with the city. 

Matt French, who heads the Zidell’s real-estate sector, declined comment.  Read about French and South Waterfront in the February issue of Oregon Business.

 




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