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2/16/24
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Deacon Development is nearing completion on three new Portland and Salem, OR-area multifamily communities – Rivenwood, Merx and Paceline. The projects will add 352 res units to the greater Portland and Salem areas, filling a growing need for housing in the region.
Highlights of the new properties include:
Merx
Located at the corner of 19th and Petttygrove in northwest Portland’s Slabtown, Merx is a seven-story mixed-use project comprised of 126 studio and one-bedroom apartments, ranging from 297 sf to 453 sf. Units feature a blend of contemporary design with custom casework, offering both style and functionality.
Originally the site of a Sylvia’s Grocery, which opened in 1884, Merx (short for mercantile), pays homage to the neighborhood’s rich history rooted in service. Merx will encompass a resident lounge, coffee bar, private outdoor terrace and rooftop deck with sweeping city views as well as ground-floor retail.
The name – Merx – is Latin for merchandise that is bought and sold and is an homage to the site’s retail beginnings. Pre-leasing is slated for February 2024 with units ready for move-in late April 2024.
Paceline
Located at 1341 N. Killingsworth St in Portland’s Overlook neighborhood, Paceline stands five stories with 69 studio and one-bedroom apartments, spanning 350 sf to 460 sf. This community of apartments in North Portland enables residents, neighbors and friends to come together in a space designed for convenience and comfort.
The project’s name is a nod to the region’s connectivity, spawned by access to Portland’s MAX Yellow Line, bike lanes, greenways and multi-use paths. Apartment homes include in-home washers/dryers, custom casework, quartz countertops and expansive windows, while amenities encompass package lockers, bike parking, a rooftop deck and more. Construction is set for completion in June 2024.
Rivenwood
Featuring 157 studio, one- and two-bedroom apartments ranging from 370 sf to 849 sf – as well as on-site parking, a resident lounge and large rooftop deck with BBQs, outdoor games and more – Rivenwood is a five-story, wood-framed structure located on the site of a former Nordstrom store at 420 Center St NE in downtown Salem. Inspired by the industrial history of the region’s saw mills and the timber industry, the name Rivenwood is a subtle nod to a city strengthened and reinvented through public and private partnership.
Rivenwood’s apartment homes feature stainless steel appliances, quartz countertops, in-home washers and dryers and balconies in select units along with EV parking, bike storage, package lockers, a coffee and tea lounge and pet wash. Pre-leasing is slated for spring 2024, with units ready for move-in summer 2024.
Deacon has enlisted CloudTen Residential to oversee all lease-up and management activities for the projects. CloudTen now manages over 36 properties throughout Oregon and Washington – three of them owned by Deacon Development.
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