Portland Luxury Community Opens Doors

Mill Creek’s Modera Belmont broke ground in May 2016 and features 200 units and more than 10,000 square feet of retail space.
Modera Belmont in Portland, Ore.

Mill Creek Residential has opened its 200-unit Modera Belmont, a luxury apartment community in Portland, Ore. The LEED Silver-certified development broke ground in May 2016, and the owner financed construction with a $36.1 million line of credit from Wells Fargo, according to Yardi Matrix.

Located at 685 S.E. Belmont St. in Portland’s Buckman neighborhood, the six-story asset is positioned in a widely accessible part of Southeast Portland. A number of bus stops and the city’s streetcar system operate less than a block away, and Interstate 5 is a quarter mile west of the community. The structure sits at the edge of a vibrant retail district, home to a wide variety of shopping and dining options.

Booming neighborhood

The SERA Architects-designed property offers residents a mix of studio, one- and two-bedroom apartments, varying from 452 to 1,235 square feet. The building includes 11,362 square feet of street retail. Shared amenities include:

  • 24-hour fitness center
  • barbecue area
  • gaming room
  • business center
  • rooftop lounge
  • coffee bar

“The revitalized Buckman neighborhood is attracting strong renter demand, as residents clamor to be close to the city while still enjoying a true neighborhood vibe,” said Sam Rodriguez, senior managing director of Mill Creek Residential, in a prepared statement. “Modera Belmont not only has an exceptional location right across the Willamette River from downtown but it also possesses the prime amenities and top-of-the-line finishes craved by those who desire to live in this booming, eclectic neighborhood.”

Image courtesy of Mill Creek Residential