PORTLAND, Ore. (KOIN) — Rising 35 stories above the Portland skyline at Southwest 9th and Washington, the Ritz-Carlton hotel is just a few months away from opening. And it could be a game-changer as downtown Portland tries to make a comeback.
Representing one of the world’s best-known luxury brands, the Ritz-Carlton Portland will have 251 guest rooms plus 132 residences that begin on the 21st floor. People will begin moving into the residences in April 2023, while the hotel is slated to open in Summer 2023.
Portland native Terry Sprague of Luxe Forbes Global Properties, who is selling the luxury condos, said “every view is amazing.”
The condominiums begin at just over $1 million and go up to about $6 million. Forbes said they “have already sold out 10% of the building.”
That may be surprising given the state of downtown Portland, from the homeless to crime to some businesses moving out of downtown. But Portland’s west end is showing signs of a comeback.
The Ritz-Carlton hopes to be a catalyst.
“We’ve never had a building or a facility like this in Portland, and I just think there are so many people that are excited to get back downtown and get together as a community and have a gathering space again,” Sprague said. “Literally, within this block, there are billions of dollars being spent on new buildings, new development other than this particular development.”
That includes a planned $20 million renovation of the Galleria building next door.
Ritz-Carlton Portland General Manager Marie Browne told KOIN 6 News they are optimistic.
Tourists are returning to visit Portland and other parts of Oregon. Gerard Poirier and Rich Harty were among a group of friends staying in Portland and taking a trip to Oregon wine country.
“There’s still a lot of homeless here,” said Poirier, who lives in Los Angeles. “It’s definitely in need of a little revitalization, in my opinion. But I believe they’re going in the right direction.”
“Portland sounds like, seems like it’s going through a rough time right now,” said Harty, who lives in Chicago. “So I think something that gives people a reason to come to town is the perfect opportunity to show off everything that you guys have to offer here.”
The $800 million Ritz-Carlton Portland is a gleaming new luxury hotel with multi-million dollar residences to help fill that need.
You may recall the Ritz-Carlton displaced one of Portland’s most popular food cart pods. Ritz-Carlton officials said some of those food carts will return in a food hall on the Ritz-Carlton ground floor.