Portland Business Journal

PORTLAND, Ore.– October 17, 2006 –Demand for condominiums in downtown Portland is seemingly unabated. Buyers snapped up 58 percent of the units in Harrison East, the second high-rise tower in the former Portland Center apartments to go on the market.

The redevelopment team led by Reliance Development is renovating 537 apartments in the three-tower complex on the southern border of Portland State University into condominiums. Formerly the Portland Center apartments, it is now the Harrison condominiums.

Prices start at $160,000 for a one-bedroom unit. The Harrison East tower, 111 S.E. Harrison, will be ready for occupants in March. The first tower to be sold, at 255 S.W. Harrison, is 80 percent sold out.

Scott Stehman of Reliance said the strong demand means the team will press ahead with plans to convert the third and last tower, to be called Harrison South, next spring.

"Despite reports of a slowing housing market, it's clear that there is still strong demand for well-priced view homes in a great downtown location," he said.