The Goodman family, one of the largest property owners in downtown Portland, Ore., are planning an 11-building development on one of their parcels in the city,
the
Portland Business Journal
reported.
The $1.5 billion development will include office and residential buildings, the article said.
The Goodmans' Downtown Development Group has owned prime real estate in Portland for more than 50 years, the article said. Currently, development is booming in the city, and zoning changes are set to ease height restrictions, the report noted. A rendering on the company's website said five of the sites could include towers up to 460 feet tall, the article said.
The family would lease the land to developers and investors rather than developing the property themselves, the report said.
Downtown Development Group and its affiliates have an ownership in nearly 60 properties, including 30 parcels of undeveloped land in downtown Portland, the journal article said. (Source:
Portland Business Journal
, Feb. 8, 2016.)
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