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March 31, 2023
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MULTIFAMILY NEWS
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Work Finished on 84-Unit Res Community in Portlandís Woodstock Neighborhood

1/16/23

Construction is now complete on Novus Apartments, a $24 mil, four-story, 84-unit, contemporary mixed-use community located in Portlandís Woodstock neighborhood. The project, developed by Portland-based Urban Asset Advisors and constructed by LMC Construction, is located at 4981 SE Woodstock Blvd, on the east side of the Willamette River.

Novus Apartments feature a sleek, modern design by architect Kyle Rodrigues of Scott Edwards Architecture. The apartments range from 443 sf studios to 1.3k sf three-bedroom homes, all with stainless steel appliances, quartz countertops, pendant lighting, vinyl plank flooring and oversized windows. The community also features 16 expandable technology-powered Ori Studio homes, a cost-effective housing solution, which at the touch of a button transforms spaces for sleep, work or entertaining.

Onsite amenities include a spacious resident lounge, a coffee bar and courtyard with firepit and grills. The community also has 2k sf of commercial space, with recent move-ins including a Filipino bakery, Shop Halo Halo and Daphneís Botanicals.

Newly formed CloudTen Residential has been awarded the lease-up and management activities for the project. With the addition of Novus, CloudTen now manages over 30 properties throughout Oregon and Washington.

Other Portland area multifamily properties recently added to the CloudTen portfolio include Parallax, a 66-unit, five-story glass, steel, brick and metal mixed-use development and Ninebark, comprised of 246 sustainability-minded apartment homes developed by Killian Pacific. With these newest additions to its portfolio, CloudTen now has 60 properties totaling over 7,000 units throughout Arizona, Nevada, Oregon and Washington.





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