Learn about this four-story, mixed-use project that features 3,000 square feet of class A ground-floor retail space and 22 market-rate apartments in Gresham.
Central Point is in the Gresham Regional Center, just four blocks from Gresham Central MAX station and is centrally located in the heart of downtown Gresham. This mixed-use project was developed on just over a quarter of an acre, the size of a typical suburban single-family housing lot. With a current waiting list, Central Point has operated near full occupancy since opening and has served as an important catalyst development for the revitalization of historic downtown Gresham.
Central Point offers transit and urban amenities such as parks, a movie theater, shops, restaurants and pubs all within a short walk. From opening day, Central Point made a compelling case for higher-density building on the main streets and cities throughout the region.
The development process taught participants several important lessons. First, design matters. Jeff Myhre and Ankrom Moisan architects made use of extensive experience in Portland's Pearl District and an understanding of the aesthetics of urban residential design. Second, parking can make or break the project. Stringent parking requirements can make a higher density project physically and financially infeasible. Surface parking limits the amount of buildable space and structured parking is very expensive. Parking often becomes the key obstacle to implementing more mixed-use projects. At Central Point, project developers used lower parking ratios (0.8 to 1 parking spaces per unit) and tuck-under parking.
Metro partnered with Peak Development to pioneer a new funding tool, the transit-oriented development easement. This was the first application of the Metro transit-oriented development easement.
Governor's Livability and Design for Best Transit Oriented Development Award
For more information on these and other tools, see the Community Investment Toolkit.
For rental information, please contact Lone Oak Realty or Peak Property Management at 503-666-3683.