Major Condo Development Planned Near Nike

BEAVERTON, OR-A six-tower condominium development with a nine-figure sellout is proposed for a 9.5-acre site across from the world headquarters of Nike. The would-be developer is DeCal Custom Homes and Construction of St. Helens, WA, which last week handed its development application to Beaverton city officials. Each of the towers would top out at 90 feet, making them some of the tallest buildings in the city.The development site is located at Southwest Murray Boulevard and Jenkins Road, which in addition to being adjacent to Nike is adjacent to Tektronix and the regions’ light rail system, where the City of Beaverton has said it would like to see higher-density developments. DeCal’s VP of land acquisition and development John Nelms tells GlobeSt.com that the company is under contract to acquire the site later this year, upon approval of its plans by the city’s design review commission. The seller is Simpson Housing. If all goes smoothly with the expected nine-month approval process, Nelms said he would hope to break ground for the first phase of the project next summer.The project is planned as three phases, each with two eight-story towers, nine townhomes and a two-level parking structure. Each phase is designed to be self sufficient, with its own swimming pool, exercise room and clubhouse. The first floor space in each phase will contain leasable commercial space. The fallback use would be additional residential units, says Nelms.Most units will come in well under 1,000 sf, says Nelms, but will be constructed with removable demising walls so that neighboring units can be converted into one larger unit. Nelms says unit pricing has not yet been determined because completion of the first phase is a couple of years out and they do not want to under- or overprice the market. If the average sale price per unit were $250,000, the total sellout would be $119 million.DeCal Custom Homes only recently began investing on condominium developments. The Beaverton project would be its third and by far its largest. Its first condo project, Summerlinn in the City of West Linn, OR is a 140-unit project for which construction is just now winding up. Its second is Eagle’s Landing, a 127-unit development in Happy Valley, OR. A couple of others are in the development pipeline. “They are working well for us so we decided to move in that direction,” says Nelms.