Last week a group of Portland investors purchased their second half of the block at Northwest Glisan and 14th Avenue. The $2.8 million dollar deal is said to be the grounds of a future hotel, they purchased the other half back in 2005 for the same price, or $5.6 million for the entire block.
Coincidentally a Pre-Application was discovered for an additional Hotel at Northwest Marshall Street and 9th Avenue. SERA Architects is the lead designer, and Residence Inn is the client. The six story, 225 room hotel will occupy the entire block. Previously this block was slated for a commercial building. We believe this building will be more of a family friendly hotel, while the other rumored hotel will be a larger corporate gateway.
This development is fantastic news! As you may already know, there is currently no hotels in the Pearl District. They will dominate the market.