A historic five-story building in Old Town is expected to become the first vacant downtown building to be converted to housing units.
While many have talked about the need to remodel vacant or mostly-vacant downtown for housing, the design and building code challenges are daunting. Plans call for the former Oregon Casket Co. building to be converted to 34 housing units, with two live-work units on the ground floor and 32 on the floors above.
The building at 403 NW Fifth Ave. was built in 1897 for the casket company and has had several subsequent tenants that used it mainly as a warehouse. Kalberer Hotel Supply Co. was a prominent occupant from the mid-1940s into the 1970s.
Whidden & Lewis, Portland’s most prominent architecture firm near the turn of the 20th Century, designed the building with a knobby stucco finish on the upper floors and an elegant brick cornice and quoins adding definition to the building corners on floors two, three and four. It ranks as one of the least-recognized Whidden & Lewis structures, given that others include Portland City Hall, the former Multnomah County Courthouse, Arlington Club, downtown office buildings and many high-end residences.
The Oregon Casket project is expected to cost about $10 million. Prosper Portland, the city’s development agency, has agreed to a $7 million low-interest loan with a 15-year term once final designs are approved. A Prosper Portland resolution said “office-to-residential conversions and the development of middle-income housing are high priorities for the city and for the Old Town/Chinatown neighborhood,” and they align with city development strategies.
The project developer is Owen Gabbert, head of a real estate development firm that has experience working on historic properties as well as new buildings. Design Research Office, a Portland firm, is working on the plans.
Images on the Design Research website show that the interior with its heavy post and beam construction is substantially clear, leaving considerable flexibility for interior design. (Oregon Casket Building | Discover Historic Living Spaces — Design Research Office ) Given its 128 years, the building has been largely immune from unfortunate renovations. Even the original multipane, double-hung windows remain.
Renovation of the building is expected to be done in 2026.
The building currently does not have a historic designation, but its age, design history and role in the development of Northwest Portland would make it eligible for placement on the National Register of Historic Places. Preparation for a nomination reportedly is underway.
To view an interactive then-and-now photo of the old Oregon Casket Building / Kalberer Hotel, click here. Use the on-screen slider on that page to move back and forth in time — from 1947 to today. Photos and “then-and-now” by Walden Kirsch.
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While I like the idea of restoring structurally sound old buildings, this site is located smack dab in the midst of the zombie apocalypse. No kidding, I was near there two weeks ago and I thought I was on a dystopian movie set, between the fentanyl smokers and the mentally disturbed acting out in every direction I turned. Great idea to have affordable middle income housing, but who pray tell, is going to be brave enough to live there?
One can only wonder at the economics of the project and why the city of Portland is now a bank that funds--at ridiculous rates--projects that ought to be financed on the non-socialist market. One might guess that a rational banker might take a look at a renovation that pencils out at $300,000 per unit and wonder what kind of rents will be charged to produce a payback and profit.
As it is, the developer will get a sweetheart loan, guaranteed by the city. The writer doesn't bother exploring the details, but I'd bet there are "affordability" sweeteners as well, and more backdoor federal and local tax breaks.
This is socialism, pure and simple. There are no market forces at work here--replaced by opaque bureaucrats, and lots of back-room dealings. The developer gets a sweet deal--what's the payback for the city? And when will Prosper Portland offer to refinance and pay my mortgage?