PORTLAND, Ore. — A major developer's decision to exit Portland's massive Broadway Corridor redevelopment wasn't enough to put off Eran Fields. Fields, from Los Angeles, still thinks it's worth building something on the edge of that project.
"Ultimately, I'm hoping that that area gets developed, and I'll be right there at the entrance to it all," Fields said. "The hope is that whoever develops it, or a combination of those who develop it, with the guidance of hopefully the city, will do it right."
Denver-based Continuum Partners last year left the Broadway Corridor redevelopment, which if realized stands to bring thousands of homes and jobs between Old Town Chinatown and the Pearl District. Despite the setback with Continuum, local officials are taking next steps in the short term, such as demolishing the post office facility.
Fields is keeping the faith.
The managing member of Fields Holdings is behind a proposed $85 million Pearl District high-rise that could bring 337 apartments to where Northwest Hoyt Street and Northwest Ninth Avenue intersect, just south of Broadway Corridor. Workers would need to knock down much of what’s there to make room for his planned 23-story building, which the Business Journal first reported on last week. The building would be called the Philip, after his father.
"If you fast-forward 20, 30 years from now, I'm hoping that I'm someone who said, I see the vision long-term," Fields said. "It's going to take some time, but one day, you'll look back, and you'll say, that was a really smart bet, buying that location, because where do you find this type of scale and future opportunity to create anywhere, really?"
Read the full story at the Portland Business Journal.