The development will have 70 assisted-living units and 34 independent-living apartments. The church, built in the Romanesque style, will also be renovated as part of the project. The church was completed in 1921 and is listed as a Portland historic landmark.

The $13 million project has some hurdles yet to clear. The property is currently zoned for single-family residential. A rezone is in the process. Historic landmark status for the church will also slow things, as the city's historic landmarks commission must approve any renovations.

Ground breaking is tentatively scheduled for next spring. Completion is scheduled for May 2002.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.