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Neighborhood Description: The Pearl District has undergone tremendous growth in recent years and, today, is often toted as the leading residential and retail district in the City. There are over 6,000 existing and planned residential units in the area, with market rate condominiums priced from $500 to $1,000 per square foot.
The neighborhood’s early resurgence was mainly due to a concentration of art galleries, some of which have remained in the neighborhood. This was the origination of “First Thursday” Art Walks, which continue today the first Thursday of each month and attract locals from all over the city, as well as visitors to the area.
There is a strong emphasis on mixed-use projects and refurbishment of older industrial buildings in the area. The neighborhood has attracted local and regional retailers for several years and is now garnering the attention of national retailers including REI, Puma, Safeway, Adidas, Starbucks, Rite Aid and Eddie Bauer (coming in 2007).
On the southern border of the Pearl District, the 1.7 million SF Brewery Blocks development which servers as a national tenant hub, is comprised of 200,000 SF of retail with many unique, one-to-the-market nationals, including Whole Foods Market, PF Chang’s, West Elm, Diesel, North Face and Anthropologie.
At the northern end of the District, Hoyt Yards is responsible for the development of a 40-acre mixed-use residential, retail and office. This area is home to many high-quality local boutiques, such as Posh, Visage, Nolita, Physical Element and Bella Moda Shoes; as well as national retailers, such as Patagonia, Title Nine and Office Max. This area features a strong mix of retail and restaurants that attract residents, locals and visitors to the area.
Educational institutions such as Pacific Northwest College of Art (PNCA) and The Art Institute call the Pearl District their home, attracting thousands of students and artists to the neighborhood daily. The Armory, located on NW 10th & Davis, is the new home to Portland Center Stage. Natural green spaces and parks, including Tanner Springs Park, Jamison Square and the North Park Blocks, enhance the quality of life in the Pearl District.
Area Retailers: Design Within Reach, The French Quarter, Henry’s Tavern, Lucy, Blue hour, Powell’s Bookstore, Paragon, Sungari, Ecru, Andina Restaurant, Sip & Kranz, Oba!, Sinju, Shoefly, Fenouil, Daily Café, D.F. Restaurant and many more.
Base Rental Rates: +/- $20.00 - $40.00 / SF
Vehicular Counts: 95,000 CPD: I-405 and Everett (2001).
8,154 CPD: NW 11th and Lovejoy (2001).
14,912 CPD: NW 13th and Glisan (2003).
Transportation: Lovejoy is the main east / west thoroughfare that connects to the Broadway Bridge feeds traffic in and out of the Pearl District’s northeast end. NW 10th (one way northbound) and NW 11th (one way southbound) Avenues are the main avenues for both auto and pedestrian traffic. Parking is a mixture of parking lots, surface lots and on street metered parking. The Pearl District is served by Tri-Met bus and Streetcar.
