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New building offers 314 apartment units with some set aside as affordable housing.

PMG PHOTO: JULES ROGERS - Artists, including live musicians and stilt-walkers, celebrate the June 16 grand opening of the Alta ART Tower in Goose Hollow.The official grand opening of Alta ART Tower was celebrated June 16 at 1510 S.W. Alder St. in downtown Portland.

The new Goose Hollow property, adjacent to the nonprofit Artists Repertory Theatre ART, was developed by Georgia-based Wood Partners. Portland-based Ankrom Moisan Architects and Andersen Construction also worked on the new tower.

The property offers a total of 314 apartment units, including one-, two- and three-bedroom choices. Of those, 14 are affordable housing units for those earning 60% of the area median income, in compliance with Portland's inclusionary housing program.PMG PHOTO: JULES ROGERSJULES ROGERS - Artists, including live musicians, painters and stilt-walkers, celebrate the grand opening of the Alta ART Tower in Goose Hollow.

Michael Nagy is the Pacific Northwest managing director for Wood Partners, which has participated in acquiring and developing more than 90,000 multifamily homes with a combined capitalization of $17.5 billion, according to the company.

"We are super excited to have such a big project delivered. This is the first project that included inclusionary housing units that was over 150 units after (the inclusionary housing policy) was passed, so to be the first large-scale project to actually comply with inclusionary housing is definitely pretty gratifying," Nagy said.PMG PHOTO: JULES ROGERS - Artists, including live musicians and stilt-walkers, celebrate the grand opening of the Alta ART Tower in Goose Hollow.

Artists Rep is a professional nonprofit theater, and its building is adjacent to the new Alta ART Tower on the same block. Its performance halls are up next for renovation — pending supply chain timelines — and it plans to offer special programming and experiences specifically for residents and guests of the new tower.

"To partner with ART next door, the nonprofit theater needed to find a solution to stay in their home. To be able to find a solution that was a win-win that keeps them here was also really gratifying," Nagy said.

Many of the Artists Rep participants came to celebrate Alta ART Tower's grand opening, including musicians, stilt-walkers, painters and more.

"We are thrilled to welcome residents to Wood Partners' latest community — Alta ART Tower — centrally located near several of Portland's most popular and sought-after neighborhoods," Nagy said. "Our top-of-the-line community seamlessly blends art, community and high-end living unlike any other residential property in the Pacific Northwest and provides residents with a prime location to explore and call home."PMG PHOTO: JULES ROGERS - Alta ART Tower in Goose Hollow celebrated its official grand opening on June 16.


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