PORTLAND, Ore. — This story comes from the Portland Business Journal, a KGW news partner. The full story is here.
The vacant Rite Aid and neighboring parking lot at Southeast Cesar Chavez Boulevard and Division Street could welcome around 200 apartments plus parking if the property owner’s plans come to fruition.
Property owner Vinny Small is working on the plans after Rite Aid abruptly closed that location in September 2023. The plans, which could feature retail spaces, include both the former store site and parking lot across the street, for a total of 46,885 square feet.
Small, owner and principal broker at VCS Commercial Realty, is partnering with a developer on the project, he said. He declined to name the developer at this time since the project is in its early phases.
The team is finishing drawings to submit to the city to start the development process, he said. About 15,000 square feet of the project, which could reach five stories, would feature retail spaces. Parking is planned under both buildings.
The team is finishing drawings to submit to the city to start the development process, he said. About 15,000 square feet of the project, which could reach five stories, would feature retail spaces. Parking is planned under both buildings.
