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Construction Nearing Completion on Three Oregon Multifamily Communities Totaling 352 Units

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PORTLAND, Ore. - Rezul -- Adding much-needed urban-style apartments to the region, Deacon Development (https://www.deacondevelopment.com/) is nearing completion on three new Portland and Salem, Oregon-area multifamily communities – Rivenwood (https://www.rivenwoodsalem.com/), Merx (https://www.merxslabtown.com/) and Paceline (https://www.pacelinepdx.com/) – tapping CloudTenResidential (https://www.livecloudten.com/) to oversee all lease-up and management activities. CloudTen now manages over 36 properties throughout Oregon and Washington – three of them owned by Deacon Development.

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"In total, these projects will provide 352 units to the greater Portland and Salem areas, filling a growing need for housing in the region," Mitchell said. "Each is a key addition to the community – and to our expanding portfolio. We are proud to partner with Deacon Development to help provide quality rental housing in walkable, transit-oriented neighborhoods."

Merx
Located northwest Portland's Slabtown, Merx is a seven-story mixed-use project comprised of 126 studio and one-bedroom apartments, ranging from 297 to 453 square feet. Originally the site of a Sylvia's Grocery which opened in 1884, Merx (short for mercantile), pays homage to the neighborhood's rich history rooted in service. Merx will encompass a resident lounge, coffee bar, private outdoor terrace and rooftop deck with sweeping city views as well as ground-floor retail. Pre-leasing is slated for February 2024 with units ready for move-in late April 2024.

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Paceline
Located  in Portland's Overlook neighborhood, Paceline stands five stories with 69 studio and one-bedroom apartments, spanning 350 to 460 square feet. Apartment homes include in-home washers/dryers, custom casework, quartz countertops and expansive windows, while amenities encompass package lockers, bike parking, a rooftop deck and more. Construction is set for completion in June 2024.

Rivenwood
Featuring 157 studio, one- and two-bedroom apartments ranging from 370 to 849 square feet – as well as on-site parking, a resident lounge and large rooftop deck with BBQs, outdoor games and more – Rivenwood is a five-story, wood-framed structure located on the site of a former Nordstrom store in downtown Salem. Rivenwood's apartment homes feature stainless steel appliances, quartz countertops, in-home washers and dryers and balconies in select units along with EV parking, bike storage, package lockers, a coffee and tea lounge and pet wash. Pre-leasing is slated for spring 2024, with units ready for move-in summer 2024.

Source: CloudTen
Filed Under: Real Estate

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