Portland-based New Seasons announced plans Wednesday to open a new store in 2014 that would have housing upstairs. It’ll be built on a former fuel depot in Northeast Portland, at roughly 33rd and Broadway.
Jeff Sackett, with project developer Capstone Partners, says state regulators have certified the old industrial site meets environmental standards.
"So it was fully cleaned up and ready to build," Sackett says. "In fact, there was a previous developer that took the property all the way through design review and got its financing nearly in place. And it was approved for for-sale housing, and that¹s an even higher standard than for-rent housing.”
Sackett says the previous developer gave up on a plan to build condos when the economy tanked in 2007.
Sackett’s plan would have New Seasons and other retail stores share parking spaces with the tenants of the 211 apartments.
Average rents for the apartments are expected to range from $1,200 to $1,500.