PORTLAND, Ore. – A house in the Sellwood neighborhood will be demolished to make way for a four-story development.
Photo credit: Portland Chronicle
Located at 1640 SE Tacoma St., the house was built in 1993. It has had a number of sales in its 22-year lifespan, including two over the past year.
Photo credit: Portland Chronicle
The property was transferred from Franklin Asset Group LP to DEP LLC, a “speculative builder, multi-family dwellings” according to Manta, for $285,000 over the summer of 2014. In November it was sold again from DEP LLC to Yoshida Real Estate Holdings XVI LLC for $625,000 during a package deal sale that included the lot to the east.
Photo credit: Portland Chronicle
In early December the city received an application for early assistance on the development. The application describes a four-story apartment building with ground-floor retail and parking. The property is located in a Mixed Commercial zone, as is much of Tacoma Street in area. The city has further plans for nearby development with its Tacoma Main Street Plan.
Photo credit: Portland Chronicle
To make way for the four-story structure the 1993 home will likely be demolished.
Photo credit: Portland Chronicle
A vacant lot separates the house from Goodwill’s parking lot. The property formerly held a 1905 single family home.
In October 2006 Donald E Pollock of DEP LLC purchased the property for $180,000. The following spring the house was demolished, and the property has sat vacant since then.
Photo credit: Portland Chronicle
In October 2014 Pollock sold the property to Yoshida Real Estate Holdings XVI LLC. The lot has open permits for construction of three townhouses, but they have been under review since well before Yoshida bought the property, and it is unclear whether they are still part of the plan or whether the property will be part of the four-story development.
Photo credit: Portland Chronicle
The applicant on the new development is Brian Lessler of PDG Construction Services, Inc. Lessler and Yoshida Real Estate Holdings XVI LLC have previously worked together on a two-building 14-unit at 3745 SW Water Avenue.
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Yoshida Real Estate Holdings XVI LLC is part of the Yoshida Group of Companies, which dabbles in real estate as well as Teriyaki sauce.
Photo credit: Portland Chronicle