New apartment building gets topped off

Published 12:00 am Tuesday, February 17, 2015

High winds delayed the completion of the “topping out” ceremony at the large apartment project in the Lloyd District for a few hours on Monday, but the milestone was marked earlier by a gathering of elected officials and executives from the company constructing the three-building Hassalo on Eighth residential complex.

The ceremony was scheduled to mark the placement of the final steel beam on the project’s tallest residential tower. Although a crane lifted the beam towards its final position, workers had to wave it off after it began to sway in the storm-lashed winds. It was finally installed when the storm subsided.

The project is being developed by American Assets Trust, Inc. The ceremony was attended by company President and CEO John Chamberlain and Vice President and Regional Manager Wade Lange. Also attending were Oregon Congressman Earl Blumenauer (D-Dist. 3) and Mayor Charlie Hales. They and others signed the final beam before the crane tried to lift it into place.

Hassalo on Eighth project is located on an oversized “superblock” between Northeast Holladay and Multnomah streets on the north and south, and between 7th and 9th avenues on the east and west. It is adjacent to both the eastside MAX light rail and Portland streetcar lines. Pre-leasing of the 657 apartments will being in April an the formal opening is planned for September.

“Hassalo on Eighth is creating a new neighborhood on Portland’s Eastside: A place for people to live, work and play,” said Chamberlain. “With gorgeous views of the downtown Portland skyline, and MAX and the Portland Streetcar right outside your door, this is going to be a great new community.”

The names of the three buildings were also announced Monday. They are: Aster Tower, the tallest building, formerly called Block 101, a 21-story tower with 337 apartments and ground floor retail; Velomor, formerly called Block 92, a six-story building featuring 177 apartments ground floor retail; and the Elwood Building, formerly called Block 100, a five-story building comprised of 143 apartments and retail.

The traditional “topping off” ceremony was designed to celebrate the project’s moving into the final phases of construction prior to opening. Hassalo on Eighth will begin pre-leasing apartments in the 657-unit, three-building development this spring and plans a formal opening in September.

The project will transform the Lloyd District, which has long been a major employment center but not a heavily residential neighborhood. It is expected that a large share of those moving into the apartments will work in the area, and will be able to get around without relying on private automobiles.

American Assets Trust is planning an even larger residential project across the street from Hassalo on Eighth. The project could include approximately 1,000 apartment in four new building on an adjacent superblock that the company owns.