What was to be the site of 1 Hotel & Residences will remain a desolate gaping hole on 2nd Ave and Pine until Starwood Capitol Group can secure a construction loan and proceed with a newly designed 23-story hotel-condo building.
Not only has the construction been delayed for nearly a year now, but most recently Avalon Holdings, a Portland-based firm headed by Paul Brenneke, has sold their interest ($45 million) in the $250 million project. Avalon will continue to develop the 18,800 square feet of retail space at street level of the Macy’s parking garage and it was announced that Columbia Sportswear Company is planning to operate two retail stores in the space as early as this fall.