Sponsor
National Association of Industrial and Office Properties (NAIOP) and Portland State University
Document Type
Report
Publication Date
Summer 2020
Keywords
Portland State University. School of Business Administration. Center for Real Estate, Sustainability -- Economic aspects, City planning -- Oregon -- Beaverton
Abstract
Bridges at Beaverton Creek (BBC) is a six story, mixed-use development that seeks to meet the needs of varying demographics in the Beaverton community. At a cumulative 284,277 square feet BBC creates a strong sense of place in an otherwise banal part of Beaverton. The project takes to heart the idea that people want a place to call home, where they can live their best life at any age. As such, the key inspiration behind the concept of BBC is intergenerational living.
At BBC you'll find 191 market-rate apartments alongside a wing of 34 age-restricted apartments with integrated and restricted amenities. A childcare-preschool and boutique-convenience grocer in the ground-floor retail space tie the idea together. In providing all of these mixed demographics uses within the same building, BBC creates opportunities for interaction in a truly lived-in community. One that fosters bridging tenant types, encouraging a concordance that simply does not exist in other apartment communities.
Caw-Bam! Partners estimate the total projected development costs are $72.2MM and a total construction loan of approximately $44.8MM. We've projected an ROC of 6.48%.
Persistent Identifier
https://archives.pdx.edu/ds/psu/37803
Recommended Citation
Bullington, Alex; Parada, Angela; Kim, Channa; Redfern, Wyatt; Lum, Monique; and Small, Brandi, "The Bridges at Beaverton Creek, Beaverton, Oregon" (2020). Real Estate Development Workshop Projects. 36.
https://archives.pdx.edu/ds/psu/37803
Description
Each winter and summer, a team of students from Portland State University’s Master of Real Estate Development program are tasked with creating a development program for an existing site in the Portland or Seattle region. These teams produce a development concept through ingenuity, research, and consultation with experts in the real estate industry. NAIOP has generously sponsored our team and provided a venue for us to present our plan to the public.