Plans, Timeline Change on $72M RiverPlace Project

PORTLAND-Plans and timelines have changed for a $72-million hotel and condominium project on one of the few remaining undeveloped parcels in RiverPlace. Local developer Homer Williams and Seattle-based Gordon Sondland have added Portland developer John Carroll to their joint venture, delayed the hotel project because of the current market and begun gearing up to develop the condominiums, which will now be built in one taller tower instead of two shorter ones.

The building site is 2.5 city-owned acres on the southeast corner of Southwest River Parkway and Moody Avenue, just north of the Marquam Bridge. In August of 2001, two-and-a-half years after the first hotel financier walked out during negotiations, the City, Williams and Sondland (the new hotel partner, working with Inter-Continental Hotels) approved a new disposition and development agreement for the project. At that time, the plan was for a 110-room luxury hotel and two other buildings containing 170 condominiums.