Construction Wraps on Portland-Area Project
The community also features views of Mt. Hood and a ground-floor coffee shop.
Construction has completed on Arts Plaza Apartments in Gresham, Ore. Gibbins Kaplan Development and Capstone Partners developed the four-story, 97-unit mixed-use building.
Team Construction and MWA Architects led construction efforts for the $26 million project. Located at 492 N.E. Second St., the development is 16 miles from Gresham and less than 30-minutes east of Portland.
Managed by CloudTen, Arts Plaza Apartments consists of 20 studios, 48 one-bedroom units, 21 two-bedrooms, three three-bedroom homes and five live/work units. Layouts range from 442 to 1,172 square feet.
According to Taylor Kaplan, principal at Gibbins Kaplan Development, the Arts Plaza Apartments were envisioned to activate and revitalize the nearby Gresham Arts Plaza and the heart of downtown Gresham.
“This project was a unique opportunity to collaborate with the City of Gresham, community members, designers and engineers to bring more housing and vibrancy to the area,” Kaplan told Multi-Housing News.
Community-amenities include a rooftop terrace with views of Mt. Hood, a fitness studio, an outdoor courtyard with green space, BBQ areas and fire pits. The 82,000-square-foot community also includes 950 square feet of ground-floor retail space. It is occupied by Autumn Coffee Roasting, marking the local purveyor of coffee’s first Gresham location.
Additionally, multiple small businesses occupy the live/work units along the park, providing accessible commercial spaces for the community. A partnership with Wonderfolk, a local nonprofit, brought a mural to the community courtyard.
Adjacent to the project, Gresham Arts Plaza serves as a cultural hub, hosting music and film nights, farmers markets and art and cultural festivals. Residents will have access to the MAX Blue Line and TriMet buses, providing access from Gresham to downtown Portland.
Portland metrics demonstrate appeal
In the Pacific Northwest alone, CloudTen manages over 4,200 units with pipeline growth to exceed 5,500 units by the end of 2025. CloudTen manages four communities in east Multnomah County, including Gresham, and over 40 in the Portland metro area.
Since the first quarter of 2022, the Gresham area net absorptions have lagged behind deliveries by 135 units, Dennis Mitchell, senior vice president at CloudTen Residential, told Multi-Housing News. “However, absorptions are projected to rebound substantially in 2025, with only 25 units to deliver and 200 to absorb, increasing demand in the market. Gresham has remained a robust, stable and desirable growing market in the Portland metro area and shows no sign of slowing down in the near future.”
Gresham’s proximity to Portland further ensures a steady demand for rental properties, as people often seek more affordable housing options outside the city, according to Doug Ressler, business manager, Yardi Matrix.
Just last month, HollywoodHUB, a 224-unit affordable housing project in Portland, broke ground. Developers BRIDGE Housing, Portland Housing Bureau, and Tri-County Metropolitan Transportation District of Oregon expect completion by 2027.
