PHOENIX—The condominium community Portland Place will soon have an adjacent sister property that will begin construction late this year, adding 170 true lofts and finished condos to the Downtown Phoenix Roosevelt Historic and Art District.

The new urban living project is aptly dubbed Portland on the Park as it is situated between the three-acre Portland Park and the 32-acre Margaret T. Hance Park bordering Central Avenue. Towers of four stories, 12 stories and 14 stories will be completed by mid-year 2016, with homes available for sale beginning in the low $200,000's and penthouse suites under $1 million. Limited reservations will begin mid-summer with presales occurring in the early fall.

“Portland on the Park is a continuation of Portland Place, the most successful condominium project created in Downtown Phoenix,” says Tim Sprague, principal of Habitat Metro, developer of both projects. “The new development will be built to the standards of Portland Place, including concrete construction, which adds structural integrity and stability while delivering a building that will be there for years to come. The team involved with this project is hand-selected because they are the best in the industry, all of whom are committed to creating homes of unmatched quality for the downtown Phoenix homebuyer.”