New Seasons announces another store in Northeast Portland
By Wendy Culverwell
Real Estate Daily editor
New Seasons president Lisa Sedlar says the Hollywood district store will complement the grocer's Hawthorne and Concord neighborhood markets.
Capstone Partners LLC plans to break ground on a $60 million New Seasons Market-anchored project in the Hollywood District in early 2013.
The Portland-based developer reached a deal with the local grocery chain to anchor Grant Park Village, a mixed-use development slated for the former Albina Fuel site at Northeast Broadway, Northeast 32nd and Interstate 84.
Capstone Principal Jeff Sackett said New Seasons signed a deal Tuesday for the grocery to occupy 34,500 square feet when the project opens in fall 2014. It will have about 47,000 square feet of retail in all, plus a parking garage and three stories of apartments.
New Seasons Market operates 12 stores in the Portland area and has more than 2,300 employees. The Grant Park Village store will employ 150 when it opens.
Lisa Sedlar, president and CEO of New Seasons, said the new location will complement its existing stores in the Hawthorne and Concord neighborhoods.
“This is an ideal site for us, as it sits at the intersection of great neighborhoods, schools, parks, bike routes and transit,” she said in a press release.
Grant Park Village is the second largest project in Capstone’s $145 million development portfolio, after a multifamily development it is constructing in Seattle’s South Lake Union neighborhood.
The five-acre former Albina Fuel property is considered a brownfield. The Oregon Department of Environmental Quality has certified cleanup efforts with a notice that no further action is needed, Sackett said.
Capstone will bring the project to the city next week and expects to complete the design review process in about four months, setting the stage for a 2013 ground breaking.
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