Construction Launches at Oregon’s Largest Mixed-Use Community
- May 23, 2019
Holland Partner Group has broken ground on a 324-unit residential community in South Hillsboro, Ore., that is part of the largest mixed-use and master-planned community in the state, Reed’s Crossing.
Located about 13 miles west of downtown Portland, the community will consist of 14 residential buildings offering a mix of one-, two-, three- and four-bedroom units. Resident amenities at the development will include a clubhouse, swimming pool, lounge and indoor and outdoor kitchens. Holland will also seek gold-level certification of the property through the National Green Building Standard.
A PATH TO HOME OWNERSHIP
Holland will offer two special programs for residents at Reed’s Crossing that offer a path to home ownership. The first program, Holland Offers More Equity (HOME), allows residents of Holland rental communities to put a portion of their paid rent towards credit for the purchase of a new home, from select builders within Reed’s Crossing. The second program, Builder Lease Program, allows those in contract to buy a home within Reed’s Crossing the flexibility to rent in the community until their new home has been completed, without paying a short-term rent premium.
The development team behind Reed’s Crossing is aiming to add housing in a live-work-play environment at a variety of price points for the area, which is in the midst of a housing shortage, the company said in a release announcing the groundbreaking. Reed’s Crossing is owned by North America Sekisui House, LLC and IHP Capital Partners and is being developed by Newland Communities, the master developer of the project.
Last fall, Holland sold a 304-unit community in Hillsboro to Security Properties for $85 million. The company has been an active player in the Portland area in recent years and was named one of the top apartment owners in Portland in 2017, according to a Yardi Matrix report.