THEREDD

on Salmon Street

2015

“For really new ideas of any kind…there is no leeway for such chancy trial, error, and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”

— JANE JACOBS, THE DEATH AND LIFE OF GREAT AMERICAN CITIES

The Redd, mid-20th century

Portland’s urban growth boundary1960s

831 SE Salmon Street and 1140 SE 7th Ave.

Portland’s Central Eastside is a vibrant and emerging district full of iconic industrial spaces and entrepreneurial spirit. The Redd on Salmon Street is two full city blocks—a 1918 industrial ironworks and adjacent contemporary warehouse, office, and showroom—that will be transformed into a working urban ecosystem for the local food economy.

The Redd will support authentic local food-related enterprises in Portland, connect them to the rich producers in surrounding farmlands, and scale a robust regional food economy across the Pacific Northwest.

Circulation diagram

Street view

A redd is a nest in the gravel of a stream where Pacific salmon and trout lay their eggs. A redd nourishes the next generation, as long as there is abundant clear, cold, oxygen-rich water. The Redd on Salmon Street will spawn young local food businesses and connect them to nearby farmers and well-managed farmland. Healthy people are not the end result of a value chain, but rather, part of a larger web of rural and urban life. A web that connects the soil, water, forests, and farms to the innovation emerging from dynamic, growing and evolving businesses; the markets, capital, and jobs available in the city.

Portland is an international mecca for local, seasonal food. With a vibrant restaurant scene and abundant creativity,

hundreds of bakers, butchers, cheese and ice cream makers, distillers, brewers, chocolatiers, tea makers, coffee roasters, and entrepreneurs of all kinds are seeking education, training, marketing, and business counsel, along with access to mission-aligned capital. This value-added food production is essential for increasing the integration of regional food into local diets.

The Central Eastside neighborhood of Portland is the most dynamic business environment in the city. It has 1,200 businesses that employ 17,000 people in diverse occupations, from traditional manufacturing, automotive repair, distilleries, breweries, coffee houses, ice cream and salt manufacturing, restaurants, bars, shared workspace environments and training organizations to architecture, design and marketing firms. It includes both old and new: old-school small-scale manufacturing and warehousing and new but affordable restored warehouses for more contemporary information technology and design firms. It is served by streetcar and light rail, and the new

nearby Tilikum Crossing bridge for public transit, walking, and bicycling.

Situated on a designated bike route, the Redd lies four blocks west of the rapidly improving leafy green residential neighborhoods of Buckman and Ladd’s Addition that attract young, well-educated 21 to 35 year-olds to Portland. To the west, along the waterfront of the Willamette River, are the old warehouses, food distributors, Oregon Museum of Science and Industry (OMSI), and widespread commercial office redevelopment. In between is an industrial zone reserved by both the state and city largely for manufacturing, but under pressure for redevelopment as office, residential, and retail spaces.

What’s missing is an ecocenter—a watering hole—in a dense brown, urban desert of single-story concrete buildings designed for the industrial era. There is little transparency between the sidewalk and the growing creativity developing inside these old buildings.

In its most physical form, the project means rejuvenating two warehouses and repurposing them to meet the needs of today’s entrepreneurs—combining warehousing, production, and education spaces. In economic terms, affordable rent —designed to release the energy of young local food businesses—will continue to support the growth of a diverse food economy.

In cultural terms, the Redd will be authentic: it will be modeled on the original machinery, foundry, metal stamping and manufacturing buildings of 1918. It will emphasize the software of community building and the hardware of traditional barn-like structures.

And in environmental terms, it will not just be “certified” by leading green building standards but will use local materials, capture and reuse water, minimize energy use, and provide the infrastructure to enforce the mutually reinforcing web of farm-to-table that creates jobs, restores land, water, and habitat, while mitigating climate change.

Local FSC-certified wood sourced from Ecotrust Forest Management

properties will be used for new wood framing and finishes

Co-habitating enterprises, along with structured

programming, will directly contribute to workforce

development

Direct relationships with regional farmers and

ranchers connect urban and rural economies

Classes and community events draw the public into a rich dialogue around a robust

regional food economy

The Redd ties the urban built environment to the deep ecology

of the regional food and forest sheds

Overview

The Redd LLC, a subsidiary of Ecotrust, anticipates making available an opportunity to achieve long-term financial returns to accredited investors who share our values and wish to participate in the adaptive re-use of an industrial ironworks and adjacent warehouse to food & beverage-related manufacturing, last-mile logistics, office, conference, event, and retail space in the central eastside of Portland, Oregon. We intend to raise over $20,000,000 to develop more than 80,000 square feet in the most dynamic district in the city. This brochure is not an offer.

Team

Construction: Walsh

Design: Green Gables / Opsis

Curation & Development: Ecotrust

Project Management: Urban Patterns

Advisory: Gerding Edlen

2.29.15 Spring 2017

Two-block property closes, Schematics complete

Summer 2015

Reddgrand opening

Timeline

Plan

The development of the full 40,000-square-foot block at 831 SE Salmon Street will include the restoration of an existing 16,000-square-foot building, redevelopment of a 24,000-square-foot fully landscaped parking lot and outdoor space, as well as indoor improvements to the 20,000-square-foot warehouse, 4,500-square-foot showroom, and 2,500-square-foot office space on the western block. In total, both structures will provide 80,000 square feet of last-mile logistics (aggregation, warehousing, and distribution), processing, supporting office and retail, education, and event spaces. The buildings will share parking and a common outdoor courtyard that features native plantings.

Marble leasing

Fall 2015

Begin Marble redevelopment

Spring 2016

Marble opening, Foundry leasing

Summer 2016

Begin Foundry redevelopment

Fall 2016

Tenant improvements, Foundry

urban patternsUP

Ecotrust’s mission is to inspire fresh thinking that creates economic opportunity, social equity, and environmental wellbeing. Its goal is to foster a natural model of development that creates more resilient communities, economies, and ecosystems locally and around the world. Ecotrust brings a broad set of tools and expertise to this project from its extensive work in both food systems and in the urban built environment.

The Redd is not Ecotrust’s first redevelopment project focused on repurposing a building to drive economic development. Ecotrust’s headquarters is in a building that spent a century as a hub for the goods of the industrial economy. Now it has become a focal point for a new economy in which “natural capital”—the flow of goods and services from nature—is our measure of prosperity and resilience. From the native timber Ecotrust used and preserved to the daily business and events that keep the building humming, the Natural Capital Center is an evolving expression of our commitment to the long-term wellbeing of people and nature. The Natural Capital Center is home to over two dozen diverse organizations and social enterprises that share Ecotrust’s commitment to people and nature. More than 200 people work in the building—from asset managers to pizzaiolos, watershed restoration planners to acupuncturists, dynamic map designers to fair-trade coffee advocates. Its unique design, including open offices and a variety of shared spaces (including a kitchen, roof terrace, and expansive atrium), creates an environment for sparking new ideas and building unusual alliances.

As construction professionals who create buildings with enduring value, Walsh Construction Co. is dedicated to sustainable practices and to helping our clients build strong communities.

Opsis Architecture, founded in 1999, is comprised of a diverse, talented, and dedicated group who bring their unique abilities and interests to the design studio. Together we create inspired environmentally conscious architecture, volunteer in our communities, and lead by example. We are designers, artists, community activists, musicians, urban farmers, bike commuters, athletes and parents. The Opsis studio practice is rooted in the guiding principle of collaborative “vision-making.” We thrive on open discourse and critique that shapes an idea based architecture. Our designs evolve through a variety of exploratory tools from articulating guiding principles and study sketches, to physical models and virtual visualization. The resulting work embodies the particular qualities of culture and place, function and beauty and environmental stewardship.

Green Gables is long-standing and respected design / build firm founded by Lindley Morton and Corrine Oishi in 1978. The company is known in Portland for high quality craftsmanship in residential construction and its involvement in the creative adaption and reuse of numerous historic commercial buildings. Lindley Morton has helped foster a variety of historic and new buildings to completion, while partnering with local developers and architects and as a board member in a variety of local organizations. Green Gables has an open approach to design and construction and works closely with clients to achieve their goals.

Urban Patterns is a real estate services firm that improves social, environmental, and economic outcomes through the built environment. Collaborative and results driven, Urban Patterns manages the complexity of investment, development, and asset management to deliver exceptional buildings.

The Marble

The Foundry

This material is not to be construed as a recommendation or an offer to buy or sell or the solicitation of an offer to buy or sell any security, financial product or instrument or to participate in any particular investment strategy. Any offer to buy or sell securities will only be made by means of a confidential private placement memorandum to be prepared and furnished to prospective investors

at a later date, which will contain a description of the material terms (such as risk factors, conflicts of interests, fees and expenses, and tax aspects) relating to the offer to buy or sell any securities. Any reproduction or distribution of these materials, in whole or in part, without the written consent of Ecotrust is prohibited.