San Francisco- (September 27, 2017) – GID announced today the formation of a joint venture partnership with Mill Creek Residential Trust to develop Modera Buckman, an apartment community located in the Central Eastside neighborhood of Portland, Oregon. Construction is set to begin this fall after the demolition of the existing improvements. The first residences are anticipated to be available in late 2019. This joint venture is the first in Portland and the fifth overall between GID and Mill Creek.
The community, located at the corner of SE Belmont Street and SE 12th Avenue, will include 170 apartments in a seven-story building. Amenities will include a fitness center, community room, bike room, dog wash, and a 6th floor deck. The property also has a 7th floor club room and sky deck with views of the Portland skyline. Units will feature solid surface countertops in kitchens and baths, stainless steel appliances, and vinyl plank flooring in the living areas.
Matt Stuart, Senior Vice President and Director of Western Region Acquisitions at GID, commented, “GID is pleased to make our first investment in the Portland market. This is a pedestrian friendly location, close to breweries, restaurants, a grocery store and both creative office and CBD employment. The addition of this building along with several others in the area will help enhance an already vibrant neighborhood.”