$26M apartment project breaks ground in North Portland
Daily Journal of Commerce
April 4th 2012
Sierra Construction Co. Inc. broke ground today on a $26 million, 155-unit apartment building in North Portland.
The Prescott Apartments, designed by Myhre Group Architects, will be six stories on its tallest side, facing North Interstate Avenue. The C-shaped building will include 9,500 square feet of ground-floor retail space and underground parking for 111 vehicles.
Construction is a long time coming for the Prescott. The development entity affiliated with Sierra Construction Co. purchased the lot on the corner of Interstate Avenue and Skidmore Street in 2008, but blows from the economic downturn prevented the project from advancing until last year.
Crews will start excavating the site on Thursday and work will begin in earnest next week, according to project manager Jason Baerlocher. Construction is expected to last 19 months, with crews working mostly on the foundation and ground level slab until September.
A few blocks east of the Prescott, Sierra Construction and another of its development entities own a nearly three-acre site known as the Bakery Blocks. New Seasons Market will open a 30,000-square-foot store on the north portion of the vacant site next year.