The Federal Street
The Federal Street Lofts are located in The Dalles, Oregon, in the Columbia River Gorge. The Columbia River Gorge is experiencing massive population growth as it's a destination area and within the path of path of progress (located one hour east of Portland, Oregon). The Dalles is experiencing job growth with employers like Google, Insitu (a Boeing subsidiary), PowderPure, and others locating facilities there. The local government is progressive, incentivizing job growth with business-friendly policy. Furthermore, the downtown area is experiencing gentrification due to an active Urban Renewal and Main Street Organization attracting outside investors.
The Federal Street building includes four commercial tenants on the first floor, which is 10,000 square feet. The top floor will soon feature a total of 9 Class A, loft-style apartments. Additionally, the mezzanine level will include storage for additional revenue.
Through private / public partnership, we've been able to secure over $500,000 in grants, subsidies, tax credits, and energy credits. Upon stabilization, we expect to increase valuation over $1.7M, doubling the equity stake in the project.