South Portland’s South Waterfront is quickly becoming a burgeoning neighborhood filled with new apartment complexes. However, with all these new places available for rent, many people are asking where the residents can shop. Business and Real Estate experts are saying Fred Meyer might be the answer. Although Fred Meyer has yet to officially comment on any plans to build a store in South Waterfront, it is currently in the process of purchasing a 7,800-square-foot retail condo at Atwater Place for a potential urban format grocery concept. Atwater Place is located at 0841 SW Gaines St. in the South Waterfront area.
Atwater Place is a luxury high-rise condominium who just adjusted their fees in April. The fees to live in Atwater Place now include a $500 move-in fee, a $300 move-out fee, a $2,500 rental fee, and a $500 orientation fee that applies only to renters.
Fred Meyer is a division of the Cincinnati-based Kroger Corp. Just last year, president Lynn Gust confirmed the company was exploring the idea of a small format model to its larger department stores. This model would follow in the footsteps of rivals such as Wal-Mart Stores Inc. and Target Corp. The Portland Business Journal promises to provide more information about the return of retailers and developers to South Waterfront in the Friday edition of the paper.
In case you haven’t read anything about the developments in South Waterfront up to this point, there are now over 600 apartment units in various stages of planning and development. Some of the green, or LEED certified, buildings include The Meriwether towers, which were the first of the residential buildings to be completed in the area. The 245 homes were sold out prior to completion of the building. John Ross is currently the tallest residential tower in Oregon. It has 31 stories and stands 325 feet tall, and it is the only elliptical tower. It was designed by Robert Thomson, and almost every one of the 303 homes has a unique glass curtain wall. The Ardea offers Penthouses, Towers, Podiums, and Sidecar homes. The Tower units provide a 270-degree view. Riva on the Park is a brand new luxury high-rise located directly on the Portland Streetcar line. The Matisse provides creative apartment living. Mirabella is a newly opened and innovative Continuing Care Retirement Community. Gray’s Landing is providing affordable housing for Portland workers and veterans.
With all these new apartment complexes and condominiums, it’s no wonder the need for retail businesses is becoming extremely apparent. Fred Meyer has not yet made any promises, but many experts predict South Waterfront will be home to a Fred Meyer soon.