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Edgewater at the Cove was a waterfront, garden-style development located at the confluence of the Clackamas and Willamette Rivers in suburban Portland. Constructed utilizing a vertical housing tax credit that provided a 60% tax exemption for 10 years, the property delivered luxury finishes, scenic views, and strong market interest. The asset was sold to an institutional investor in 2019 at a premium to business-plan targets.

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PORTLAND, OR

Two residential buildings, with one emitting signals or attention marks, surrounded by bushes.

2018 VINTAGE

Blueprint with a grid of rooms and a large triangular ruler in the foreground.

244 UNITS

  • Development

  • Exited

  • 3.25 Years (June 2016 - August 2019)

Night view of a modern apartment building with illuminated balconies, trees, rocks, and a sign that reads "Edgewater at the Cove Apartments"
An outdoor pool area at sunset with a covered seating area featuring table and chairs, surrounded by a fence and residential buildings in the background.
A swimming pool area at dusk with surrounding lounge chairs and a clubhouse with large windows glowing with interior lights.
Modern living room with gray and white furniture, a fireplace, a wall-mounted TV showing a football game, and contemporary lighting fixtures.
Modern kitchen with white island counter, black chairs, stainless steel refrigerator, coffee machine on countertop, open shelving, wood accent wall, and small dining area with tables and chairs.
Empty gym with exercise equipment, weight machines, free weights, and a television on the wall.
Indoor gym with exercise equipment including elliptical machines and treadmills facing large windows with outdoor view.
Two blue and white kayaks stored on orange kayak stands, with metal lockers and unfinished wooden wall in background.
Outdoor patio seating area with turquoise chairs and a view of a river and trees under a partly cloudy sky.
Exterior view of modern multi-story apartment complex during sunset with landscaped yard and sky with clouds.
Exterior view of a modern multi-story apartment building with balconies, stairs, and parking area, featuring gray and beige siding, and a walkway leading to the entrance.
Living room with a beige sofa, black round chair, glass coffee table, and large windows with blinds and blue curtains, decorated with artwork, plants, and lamps.
A cozy bedroom with a bed against the wall, three decorative pillows, a side table with a lamp, and a closet with open shelves and hangers.
A modern bathroom featuring a wooden vanity with a granite countertop, a large wall mirror, a white toilet, decorative art on the walls, a green vase with white flowers, a gray towel, and a woven basket on a light wood floor.
A bedroom with a king-sized bed, blue headboard, white bedding, and decorative pillows, with a blanket draped over the side. There is a wooden bench at the foot of the bed, a patterned area rug, and a nightstand with a plant and a lamp. An abstract a
The image shows a bathroom with a bathtub and shower on the right, with a dark towel hanging over the side. To the left, there is an open door leading to a bedroom with gray walls, a window, and a bed. The bathroom has light-colored walls and wood la
Modern kitchen with brown cabinetry, stainless steel appliances, a central island with four transparent chairs, and a sign that says 'THE KITCHEN' on the wall.
Living room with beige sofa, black armchair, glass coffee table, patterned area rug, and large windows with blinds and dark curtains.
Modern kitchen with dark wood cabinets, stainless steel appliances, a center island with bar stools, pendant and track lighting, a vase with greenery, and a sign reading 'THE KITCHEN'.