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Nearly nine years after development was proposed for the east end of the Burnside Bridge, plans are in motion for construction of a new, $60 million mixed-use building there.
The 12-story structure will hold 200,000 square feet, with approximately 290 market-rate apartments, ground-floor retail space and about 175 structured parking spots.
Key Development Corp., a Hood River-based developer, is heading the project with the help of the Portland Development Commission, which will sell the property to Key.
"This is an absolutely prime location for this sort of thing," said Shawn Uhlman, public affairs manager for the PDC. "You're just going to see this project and more and more of this area become part of the Central Eastside."
The building will occupy half (six-tenths of an acre) of Block 67, which is in a corner of the bridgehead property, closely bordered by the Burnside Bridge to the south. The block presently is a parking lot.
Plans for this project have existed since 2010, when the PDC sent out a competitive request for...