Portland, Oregon, business executive Barclay Grayson of BPM Real Estate Group, seeks out development and acquisition opportunities that strengthen its diversified portfolio. One of Barclay Grayson’s high-profile projects currently under construction is Block 216, a 35-story structure in downtown Portland at Southwest Alder Street and Southwest 10th Avenue.
The development will house 138 condos, office space, and 11 floors dedicated to a Ritz-Carlton, the lattermost of which could mark the city’s first-ever five-star luxury hotel. Those involved with the project suggested that this might attract Portland visitors with an interest in more lavish hotel accommodations and Silicon Valley executives who take corporate jets to and out of Portland to avoid overnight stays. Additionally, the Ritz-Carlton brand’s popularity overseas presents an opportunity for enticing new visitors to the city.
Guests rooms at the Marriott-owned Ritz-Carlton will feature sweeping views of Downtown Portland. Planned amenities include spas, lounges, a yoga studio, a fitness center, and hot tub, as well as a lobby bar and two restaurants. With an opening set for 2023, the hotel will be positioned to benefit from renewed travel and hotel demand should expectations for that year as a post-pandemic period realize.