Tireless attention to purpose and character at each step of the way has rendered an exceptional, award-winning building. 937 became the third residential high-rise condominium in the U.S. to achieve Leadership in Energy and Environmental Design (LEED) certification at the Platinum level, the highest designation available.
Distinct and timeless, 937 is designed to complement rather than intrude upon the surrounding environment. 937 is a building with a natural rhythm that reflects its landscape. Inspired by fractal patterns found in nature, the skin of the building is dressed in custom bricks presenting clean, elegant lines. The exterior features seemingly random window openings and a playful balcony pattern, designed to create an abstract expression of art—symbolic of the creative history of the Pearl.
The floor plans of 937 are rotated to allow for a maximum amount of natural light to permeate the living space of each of its highly curated residences. The result is an environment of natural serenity achieved by this unique approach to inviting the outdoors in. With special touches such as floor to ceiling windows, rift-cut white oak floors, quartz countertops and new, efficient floor plans, 937 has become an icon in Portland’s skyline.
Raising the bar for green building in Portland, 937 is certified LEED Platinum. With a focus on energy efficiency and conservation, 937 is designed to use 30 percent less water and 40 percent less energy than condominiums built just seven years prior. These and other advances in sustainability are the result of a dedicated and experienced team of professionals working toward a common goal of creating architecture that can build community and live in harmony with its environment.
In addition to being Portland’s first truly modern high-rise, 937 garnered several awards, including:
The success of 937 Condominiums was forged in a time of difficult market challenges. In the planning stages in 2005 as the housing market soared, the $70 million project was designed to be Portland’s first truly modern high rise, simple and elegant, with luxurious finishes and a custom brick skin. Less than one year after construction began, the housing bubble burst. Housing prices in multiple markets fell 15% from the peak, and the decline worsened in 2008 as the U.S. economy crumbled. By September of 2008, losses due to the subprime mortgage crisis were enormous. By October of that year, Congress had approved a $700 billion bail-out and the stock market was at a record low. Less than two weeks after the bail out and collapse, 937 celebrated the completion of construction and its grand opening.
Despite these challenges, the 937 development team prevailed. The developers dedicated their time and effort to achieving successful results for the project and its lenders, by maintaining a full-time presence on site and hands-on oversight. They provided creative marketing ideas, continually researched the state of the real estate market, trained and managed an outstanding sales team, and actively monitored construction punch list and related warranty work.
Of the 11 major residential condominium buildings in Portland anticipated to begin sales between 2006 and 2008, five of the projects converted to apartments. Only three buildings, including 937, had completed the sale and closing of 100 percent of its residences by the end of 2012. For 937, no residences were returned to the bank or auctioned; instead, all of the residences at 937 sold by the end of May 2012. No other Portland mid to high-rise condominium building of that time period achieved comparable success.
The development brought in a host of awards for its design and construction. In addition to becoming the third residential high-rise condominium building in the U.S. to achieve a LEED Platinum Certification, 937 was awarded “TopProject” in its class by the Daily Journal of Commerce, and swept all three “Best of Show” awards in the 2009 Northwest Natural Street of Dreams competition.
The success of 937 has resulted in a reputation for fulfilling commitments in both good and bad economic times. The PHK team is sought after for its expertise in mixed-use construction, and for the team’s leadership and commitment to serving the communities in which PHK builds. This project was co-developed by Patrick Kessi and Geoff Wenker.