California-based Nearon Enterprises edged out the Portland firm of Williams & Dame for the right to develop two parcels of land along the Thea Foss Waterway.
The Foss Waterway Authority voted 4-2 for Nearons plan – with reduced costs and a shorter timeline than their competitor – to build a condo, hotel and retail space on land between the Theas Landing residential complex and the 15th Street Bridge.
Nearons plans call for a 106,400-square- foot, 124-room hotel; an L-shaped luxury apartment complex with 216 units; commercial and retail space; and marina support space.
The estimated cost is $45 million, with an estimated completion date of May 2005.
