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Holland Partner Group wraps up $16 million renovation project at Pallas Townhomes and Apartments

PMG PHOTO: STEPHANIE BASALYGA - A $16 million renovation at Pallas Townhomes and Apartments, which Holland Partner group started in January 2017 shortly after buying the complex, included interior upgrades to two clubhouses.A multifamily renovation project touted as one of the largest of its kind in Oregon has wrapped up in Beaverton.

Holland Partner Group held an open house late last month to show off the results of a $16 million investment in exterior and interior renovations at Pallas Townhomes and Apartments at Southwest Millikan Way.

The 20-year-old complex with 566 apartment units had been on the market as the LaSalle Apartments for several months when Holland Partner Group purchased it in November 2016, according to Dan Mason, the current property manager.PMG PHOTO: STEPHANIE BASALYGA - A $16 million renovation at Pallas Townhomes and Apartments included exterior work to fix dry-rot issues on several of the 28 buildings in the Beaverton complex.

Despite the fact that many of the buildings in the complex had dry-rot issues, Holland CEO and Chairman Clyde Holland considered the property a solid investment, Mason said. In addition to a location less than a mile from the Millikan MAX platform, the complex is located in an area that Holland considered to have the potential for high-density and mixed-use development.

"(Clyde Holland) really wanted this property," Mason told the Business Tribune during the open house event. "It had been on the market for several months when (Holland) purchased it."

In January 2017, Holland Partner Group began work to fix the dry-rot issues on the complex's buildings. Most of the buildings also received new roofs and windows to improve energy efficiency and boost structural integrity.

Other renovation work focused on upgrades for two pools and two exercise rooms, including state-of-the art equipment and replacing a wall in one fitness area with sliding glass doors to allow fresh air into the space.

Two clubhouses also were included in the project package. New interior features included new flooring, new fireplace features, new administrative areas and a living wall element in the main clubhouse.

Mason said Holland Partner Group believes the $16 million price tag makes the renovation one of the largest, in terms of dollar amount, in the state. Design work for the renovation project was handled by Florida-based CID. Morrison Construction, a Portland metro company, served as general contractor.

Pallas Townhomes and Apartments features a mix of studios, flats and townhomes with a total of 27 different floor plans. The complex serves about 1,500 tenants.


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