Pearl warehouse in Portland to be redeveloped as office, retail

Northwest commercial real estate firm HomeStreet Capital has put up $10.2 million in construction financing to convert a vacant warehouse in Portland's Pearl District to office and retail space.

Built in 1923, the General Automotive Building is being redeveloped by Spokane, Wash.-based ConoverBond Development. It will be the developer's first Portland project. The site includes one two- story and one three-story building, which will be combined and increased to five stories for a 48,000-square-foot building. The plan allocates 37,000 square feet for offices and 7,500 square feet for ground-level retail.

Fortis Construction is the general contractor and SERA Architects Inc. is the architect of the project at the intersection of Northwest Park and Flanders streets.

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