Oxbow 49 is a 166-unit multifamily project located in the John’s Landing neighborhood of Portland, Oregon. Guardian purchased the former Willamette Athletic Club site in early 2014, recognizing John’s Landing as a neighborhood underserved with housing for many years. The project opened in 2016 and features a fully-equipped fitness center, controlled-access parking, bike and paddleboard/kayak storage, a community pet wash station, outdoor community courtyard and clubroom with a chef’s kitchen, barbeques and outdoor lounge. The units feature 9-foot ceilings, air conditioning, washer and dryer, full size kitchen with quartz countertops and ceramic tile backsplash, stainless steel appliances, and private patios or balconies in select units. The project stabilized in 2018.

Project Statistics:

  • Groundbreaking: 2014
  • Completion Date: 2016
  • Total Development Cost: $43M
  • Unit Mix: 166 Total; 42% One Bedroom, 34% One Bedroom + Den and 24% Two Bedrooms
  • Parking: 144 Spaces
  • Amenities: Private community plaza with barbecue area, sky lounge with entertaining kitchen, fitness center, paddle board storage, bike parking and pet wash station

Project Partners:

  • Developer – Guardian Real Estate Services
  • Architect – GBD Architects
  • Financing Partners:
    • Ares Management (Joint Venture Equity)
    • Freddie Mac (Permanent Loan)