CALL FOR PRICING
PROPERTY CHARACTERISTICS
Address: 11505 NE Yacht Harbor Drive
Tax Accounts: R237421, Multnomah County
Size Approximately 134,785 square feet
Zoning: Commercial Employment (CE)
FAR: 2.5:1 up to 4:1 with bonus provisions
Height Limit: 45 feet
11505 NE YACHT HARBOR DRIVE
HFO is pleased to present the Yacht Harbor Drive development site, an approximately 135,000-square-foot, high-density development opportunity on Portland’s Hayden Island on the Columbia River. The riverfront property includes marina and beach access in an area with limited competing development.
Hayden Island offers the very unique Pacific Northwest island lifestyle, a rare brand of waterfront luxury living. Residents are drawn to the serenity, waking up to breathtaking river views, starting their mornings with a brisk walk along beachfront trails, or setting sail from their very doorstep.
FOR MORE INFORMATION
Rob Marton • rob@hfore.com | (971) 717.6335
Lee Fehrenbacher | lee@hfore.com | (971) 717.6346
HFO Investment Real Estate
www.hfore.com
(503) 241.5541
Fax: (503) 241.5548
Brokers licensed in the States of Oregon and Washington
With the popular Jantzen Beach shopping center just a stone’s throw away, residents have essential lifestyle conveniences and premier retailers at their fingertips without leaving the island. For those venturing out, Portland’s award-winning dining scene and major employment hubs are only a 20-minute drive away, and Vancouver’s bustling waterfront district is reachable in just 10 minutes. Perfectly positioned between serene landscapes and dynamic city centers, the Yacht Harbor Drive development site offers a rare blend of the Portland MSA’s outdoor tranquility and urban connectivity.
Development Site
SITE BACKGROUND
Previous plans for the Yacht Harbor site envisioned up to 264 residential apartments with ground-floor retail and community amenities, and subterranean parking. The Yacht Harbor Club apartments next door – a 174-unit luxury apartment community constructed in 2016 – was the first phase of this planned development. There is tremendous value in the project’s land use entitlements, studies, reports and surveys that will enable developers to fast track straight to the architectural design phase. The following documents can be shared upon request:
• Land Use Approval
• Environmental Studies
• Habitat Studies
• Wetland Studies and Mitigation
• Archaeological Predetermination
• Critical Areas Report
• Topographical Survey
• Boundary Survey
• Condominium Plat
• ALTA Report and Survey
• Flood Study and Permitting
• FEMA No Rise Certification
• FEMA LOMR and Elevation Certificates
• DEQ (NPDES/1200C)
• Phase 1 Environmental Study
• Geotechnical Reports and Testing
• Off-site Improvements
• Northeast Yacht Harbor Drive (Access Road)
• Department of Fish & Wildlife Consultation
• Wet and Dry Utilities to the Site
• Army Corp of Engineers Permitting
• Port of Portland Permitting
• Oregon Division of State Lands Permitting
• Clean River Rewards
• Land Use Approvals - LU 15-100862 EN AD / LU 02-128176 EN AD
• Valid NPDES Permit through 11/30/20 and Approved TESC Plan
• A Acoustics – Noise Overlay Zone Specifications
• Minister-Glaeser Yacht Harbor ALTA Survey
• Preliminary Stone Column Design Plan
• Landscape Mitigation & Remediation Plan
• Amended & Restated Declaration and Bylass of Yacht Harbor Master Condominium Association
• Declaration of Restrictive Covenants
• Trail Easement
• Geotechnical Engineering Design Recommendations for Phase 1
• FEMA Letter of Map Reversion, No Rise Hydraulic Analysis
• Partner Engineering & Science – Phase 1 Environmental Site Assessment
• City of Portland System Development Charges for 2018
NE YACHT HARBOR DRIVE – DEVELOPMENT OPPORTUNITY
GROUND FLOOR AND SITE PLAN
ARCHITECTURAL CONCEPT
NE YACHT HARBOR DRIVE – DEVELOPMENT OPPORTUNITY
PROPOSED DEVELOPMENT PLAN
PARADISE LANDING
PROPOSED DEVELOPMENT PLAN NE YACHT HARBOR DRIVE – DEVELOPMENT OPPORTUNITY
HAYDEN ISLAND
Hayden Island is a small island in the Columbia River between Portland, Oregon and Vancouver, Washington. The island represents a rare mix of beach vibes and PNW living and is known for its quiet, relaxed atmosphere and stunning views of the river, as well as the many opportunities for swimming, sailling, fishing, and kayaking. There are also parks and trails perfect for walking, hiking, and biking.
Hayden Island is just a 10-minute drive from Vancouver and 20-minute drive from downtown Portland, and the ease of access to both cities attracts renters-by-choice to the island’s limited number of luxury apartments and houseboats. The island’s approximatley 3,000 residents are happy to stay off the mainland, however, as the island is home to restaurants, entertainment, and lifestyle necessities, making it one of the region’s hidden gems and a highly desirable place to live and visit.
THE ISLAND LIFE:
Jantzen Beach Bar & Grill
Island Cafe
Picasso Pizza Co
Menjiro
Hidden Bay Cafe
3 Sheets at the Harbor
VANCOUVER WATERFRONT
The $1.5-billion public-private partnership to develop the 20-block Vancouver Waterfront has had a significant halo effect, substantively changing downtown Vancouver and raising its profile regionally. The development has been credited with spurring nearby apartment construction, and recent local media coverage says metro residents are increasingly choosing a night out on the waterfront over spending time in downtown Portland.
“A CITY WITHIN A CITY ON THE WATERFRONT”
The $1.5 billion mixed-use project has revolutionized and marked a new era for the entire Vancouver/ Portland metropolitan region. Shortly after the first of the restaurants and businesses opened, the area’s wordof-mouth popularity boomed, and the area has become a go-to destination for families, date nights, and long walks along the water.
This new urban community is anchored by a stunning waterfront park, boasting a state-of-the-art cablestayed pier and the impressive Headwaters Water Feature, the park’s crown jewel spanning half a mile. Whether it’s families seeking a fun day out or adults taking a refreshing break, the water feature serves as a compelling amenity. The abundance of places to go and things to do has made the Waterfront one of the region’s most popular destinations, and businesses are following residents across the bridge. There are currently 10 restaurants and bars, eight winery tasting rooms, two coffee shops, two taprooms, and two hotels located along the waterfront, and with the project only two-thirds complete, there are more to come!
32
acres of waterfront real estate
3,300
residential units
250,000
SF of retail & restaurant space
1,250,000+
WHY PORTLAND?
The Portland Metro Area’s diversified job market and high quality of life continue to attract new employers and residents, supporting strong rental demand. While the state and metro continue to recover from the COVID-19 pandemic’s impacts on in-migration, estimates from the Portland State University Population Research Center show positive growth in 2022. As of November 2022, PSU reports Oregon’s population has increased by more than 40,000 since the 2020 Census.
PORTLAND’S NATURAL PLAYGROUND
Portland is surrounded by stunning natural beauty, making it a haven for outdoor enthusiasts. From the iconic Mount Hood and the Columbia River Gorge to the picturesque Oregon Coast, the region offers an abundance of opportunities for hiking, biking, skiing, and water sports.
With numerous parks and green spaces within the city itself, residents can easily escape into nature without venturing far from home.
CULINARY DELIGHTS AND CRAFT BEER
Portland has become a foodie paradise, renowned for its diverse culinary scene. The city boasts a wide array of restaurants, food carts, and farmers’ markets, offering a rich tapestry of cuisines and flavors. From farm-totable dining experiences to innovative vegan options, Portland caters to all dietary preferences.
25 MILES
45 MILES
536 restaurants with famously diverse cuisine HFO INVESTMENT REAL ESTATE 12
APARTMENT MARKET
The Portland Metro Area consistently ranks among the regions with nation’s lowest apartment vacancy rates. According to Multifamily NW’s Spring 2023 report, metro vacancy rate was 5.09%, well below the U.S. vacancy rate of 6.40%.
New apartment construction permit applications continue to lag behind housing demand as Portland enters into its seventh year of a self-declared housing emergency (extended for another three years in March 2022). Multifamily housing supply is not expected to meet demand for the foreseeable future.
Multifamily NW reports the new construction pipeline is limited. As of early 2023, there were around 10,000 apartment units under construction across the Portland-metro area, a decline from early 2020, when there were 12,500 units under construction.
Source: State of Oregon Housing and Economic Report, Oregon Office of Economic Analysis, Portland State University Population Research Center, and HFO reports.
RENTS/ SQ FT
Source: CoStar (Spring)SKILLED WORKFORCE & STRONG EMPLOYMENT
Portland is known for its extremely well-educated workforce and is listed among the top-20 U.S. cities with the most residents holding advanced college degrees.
No. 8
Best Cities for U.S. Job
Seekers in 2023
TOP AREA EMPLOYERS
Development Site
OFFER TERMS
NE YACHT HARBOR DRIVE – DEVELOPMENT OPPORTUNITY
CALL FOR PRICING
PROPERTY CHARACTERISTICS
Address: 11505 NE Yacht Harbor Drive
Tax Accounts: R237421, Multnomah County
Size Approximately 134,785 square feet
Zoning: Commercial Employment CE
FAR: 2.5:1 up to 4:1 with bonus provisions
Height Limit: 45 feet
FOR MORE INFORMATION
MAIN CONTACTS
Rob Marton • rob@hfore.com
Lee Fehrenbacher • lee@hfore.com
OTHER CONTACTS
Greg Frick • greg@hfore.com
Tyler Johnson • tyler@hfore.com
Jack Stephens • jack@hfore.com
Todd Tully • todd@hfore.com
Adam Smith • adam@hfore.com
Steve Wendt • stephen@hfore.com
Will Thompson • will@hfore.com
HFO Investment Real Estate 2424 SE 11th Avenue
Portland, Oregon 97214
www.hfore.com
(503) 241.5541
Brokers licensed in the States of Oregon and Washington.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Parties who receive this information from unauthorized parties shall not be recognized. ©2023 HFO Investment Real Estate LLC. Build your legacy is a service mark of HFO Investment Real Estate. Licensed in the states of Oregon and Washington.