Hillsboro's 4th Main

2016 Oregon Brownfields Outstanding Project

Partners
City of Hillsboro
Metro
Tokola Development LLC
Hahn and Associates, Inc
Federal Transit Administration
Oregon Department of Environmental Quality
Business Oregon

Completed in May 2014, the 4th Main mixed-use complex capped a 16-year journey from land acquisition to redevelopment. The property, located in the heart of the city's historic downtown retail district, was jointly purchased in 1998 by the city and Metro just as plans for the Westside MAX light rail line were beginning to take shape. The intent was to hold the property until the time and market was ripe and then to engage an experienced development team to create a transit orientated, high density affordable mixed use redevelopment.

In 2012, the city selected the proposal presented by Tokola Properties to jointly develop market-rate rental units with an adaptive reuse of the First Interstate Bank building. Work included remediation of three underground storage tanks and appropriate removal and disposal of contaminated soils at the same time the underground parking garage was being built, construction of 71 market-rate apartments (fully leased out), 3,800 square feet of additional retail (currently half leased to a local taproom) and remodeling of the former bank building to house a local professional theater company.

Funding for this project was provided by the Downtown Hillsboro Urban Renewal Area, Metro Transit Oriented Development Program, Vertical Housing Development Zone, and the state's Brownfields Loan program. Metro funds of $545,000 were combined with additional city and Metro funding for a total of $2.2 million in public investments. The community benefits of this project are many, including: 71 units of much needed downtown housing approximately 125 new residents; creation of 52 permanent jobs; construction estimated to have created 140 jobs and $25 million in new spending; the return of property to the tax rolls and generating more funds for investment in other development projects; and, most importantly, new residents supporting local restaurants, shops and the arts and culture scene of downtown Hillsboro.

Downtown Hillsboro