"Dreamed up by Portland developer Walter C. Bowen and the BPM Real Estate Group, the idea was to bring five-star luxury to Portland via a Ritz-Carlton hotel-the first outpost for the brand in the Pacific Northwest-as well as 132 condominiums, office space, and retail."
"The project was considered risky when it was first announced in 2019, not only because it replaced a much-loved food cart pod, but because most Portlanders don't exactly claim to be ritzy. Still, once done, The Architect's Newspaper called it a 'crystalline tower.'"
"Love it or hate it-the truth is, most skyscrapers are treated like any trend, both revered and reviled as the years pass (except maybe the Wells Fargo Center, to which everyone just shrugs). Case in point: the KOIN Tower."
Block 216, a 464-foot tower completed in 2023, represents Portland's first Ritz-Carlton luxury hotel combined with 132 condominiums, office space, and retail. Developed by Walter C. Bowen and BPM Real Estate Group, the project faced initial resistance due to replacing a popular food cart pod and Portland's cultural resistance to luxury development. Designed by GBD architects as a crystalline gem-shaped structure, the building achieved LEED Gold certification. Early visitors praised its accuracy to renderings. Condominiums, initially priced over one million dollars, were reduced by 50 percent by January 2026, with smaller units like the 1,052-square-foot one-bedroom selling for $615,000.
#portland-real-estate-development #luxury-hotel-and-residential-tower #urban-architecture-and-design #commercial-real-estate-pricing
Read at Portland Monthly
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