The Rise Central
|Location: ~2 acres at 12875 SW Crescent St. and 12900 SW Thayer Ln.|
Outcomes: two five and six-story mixed-use apartment buildings with a total 230 units of which 15 are affordable units and approximately 6,000 sq. ft. commercial space
Developer: Rembold Properties and Rescore Properties
General Contractor: Pence Construction
Project Milestones: Current Status: Completed
The Rise Central includes two mixed-use apartment buildings of 230 units, 15 are designated as affordable and approximately 6,000 square feet of ground floor office and retail space to Beaverton’s Central District. The lot, previously the location of the old Westgate Theater, had sat vacant for some time. Its development was among the top priorities in the Central Beaverton Urban Renewal Plan towards catalyzing a vibrant center by increasing the number of people living, working and visiting the area centered around the Beaverton Central light rail station and furthering the goals of the Creekside District Master Plan: to contribute to a seamless, high-quality urban environment; take advantage of proximity to transit; create a lively and attractive destination that includes public open space plazas; and catalyze redevelopment on adjacent properties.
The Rise Central includes two 115-unit buildings with live/work spaces, studios, one and two-bedroom apartments, as well as two story townhomes. Fifteen of the units available are dedicated to housing people with incomes at or below 80% of the area median income.
Amenities include community rooms, game room, a rooftop terrace, outdoor spaces with fire pits and barbeque, penthouse lounge, fitness center, pet and bike wash room, bike storage rooms and repair stations, parking garage with electric vehicle charging stations, and a selection of on-site businesses.
Funding came from multiple sources, including through a Metro Transit Oriented Development grant, for $625K, $2.48M from a land write-down from Beaverton's Urban Redevelopment Agency, and $1.482M from the City of Beaverton through offsets of system development fees, plans, and analyses.
"I am so excited because for us, this is really the creation of a new downtown for our community, really creating an urban center that's vibrant and a place for people to live, for people to work, for people to recreate, and it really compliments a number of other things happening in the area such as a major upgrade to Cedar Hills Crossing shopping center, which is just a couple blocks away." – Cheryl Twete, Director of the Community Development Division at the City of Beaverton
The official website of the Rise Central: https://www.therisecentral.com