Wednesday,
August 20, 2003
Historic building's $9.5 million restoration is part of a downtown trend
By David Austin
Developer Art DeMuro looks out of place inside the bowels of the old Portland Telegram building on the edge of downtown.
Dressed in a crisp, maroon shirt, tan slacks and polished shoes, DeMuro effortlessly climbs a jury-rigged staircase that rises to the top floor of the four-story building on a quarter block at 1101 SW Washington St.
Workers scurry about putting up beams and other support structures as part of the $9.5 million renovation project. Already, they're spraying stabilizing concrete on the interior as part of a seismic upgrade.
On the first two floors, the early markers of what will be a health club are beginning to take shape. Above, for-lease office space is being created, and there's a possibility that a restaurant will go on the top floor.
"This is something that we feel will help breathe life into this section of downtown," DeMuro said. "It's a building with a lot of historical character, something that people see when they go by and notice. We're going to build on that."
Once completed, Abstract Unique Fitness will become the centerpiece tenant. The gym will be changing the name of what's currently known as Nelson's Nautilus Plus Downtown, now at 614 SW 11th Ave. Previously, it was known as the Princeton Athletic Club.
DeMuro, the president of Venerable Properties, which specializes in the renovation of historic buildings, said he's still looking for tenants to fill the office space. Renovation began in April, and the building is scheduled to be completed by May 2004, he said.
A giant clock tower sits atop the building marked with a terra cotta entrance. With 33,333 square feet, renovating the inside has been tricky. "There's really not much room for error in here because the space is small," DeMuro said.
Below the street's surface, two levels of parking are being put in place. There will be 51 spaces set aside for the tenants. DeMuro said that although parking will be a tight fit, the 19-foot ceilings in the basement make it accessible.
Abe Farkas, the development director for the Portland Development Commission, applauded the renovation of the Telegram building in downtown's West End. He said it is another piece of the trail leading into downtown from the burgeoning Pearl District.
"You're seeing a lot of vibrancy in the city center right now," Farkas said. "Housing has been really hot, especially with retail on the first floor. But the Telegram and places like it definitely can help change things as we fill in."
The Telegram building has a rich history. Built in 1922 by Portland industrialist J.N. Barde, it was the home of the Portland News-Telegram newspaper. The paper, distributed in the evenings, was the sister paper of The Oregonian. The owners sold the paper in 1931 to another news operation.
The building has been home to a variety of businesses over the years, but it's also seen its share of vacancies. DeMuro said one of the things that attracted him about the building is its historic look.
Other than the clock tower, the architecture--with its terra cotta trim and Doric portico--stands out among downtown's high-rise towers and other office buildings. It has delicate features throughout that will be preserved in the renovation, including marble steps, an open spiral staircase and original storefront windows.
The building--owned by the Dr. Peter Nathan family--was placed on the National Historic Register in the early 1990s, DeMuro said. The project is partially funded by a $1 million PDC loan for the seismic portion of the renovation, said Peter Englander, a PDC business loan officer.
Ideally, he said, a "top-of-the-line" restaurant will lease space on the rooftop and provide a "fine-dining opportunity" for nearby Pearl District residents.
"We're happy with the progress we're making," DeMuro said, "and we're excited about what it will look like when we finish."
David Austin: 503-294-5910; davidaustin@news.oregonian.com