Urban Renaissance Group (URG) and KKR Real Estate Finance Trust (KREF) have unveiled plans for the redevelopment of Lloyd Center, a 1.2M SF mall in Portland, OR.
Plans for the redevelopment, which could cost as much as $1B, will include replacing part of the mall with up to 5,000 residential units, a restaurant, entertainment venues and a commercial office campus, according to a report on KGW8, a local TV affiliate.
The news report said the redevelopment plan calls for connecting the city's street grid with an improved transportation network for cars, bike and pedestrians.
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