Modera Pearl Is Latest Apartment Property To Open In The Pearl District

The latest apartment development in the fast-growing Pearl District, the nine-story, 290-unit Modera Pearl, has been completed by Mill Creek Residential.

The community, at 1481 NW 13th Ave., has been pre-leasing since last year and saw its first move-ins in October. It is now leasing for immediate move-ins.

The property includes studios and one- and two-bedroom units, along with some penthouses. Common amenities include a rooftop pool deck and hot tub, barbecue areas, a pet spa, an on-site dog park and controlled-access garage parking. There is also a clubhouse, a 24-hour fitness studio, a game room, a wine cellar, bike storage and a theater room.

Besides being a very popular neighborhood for renters, the Pearl District is also the most expensive rental neighborhood in Portland. Rents there now average $1,758/month, besting Old Town/Chinatown by only $2/month, and well ahead of the marketwide average of $1,420/month, according to RentCafé.

Besides the local retailers, breweries and art galleries, the neighborhood also has that millennial-friendly feature of walkability. Pearl District's Walk Score is 96, Bike Score is 97 and Transit Score is 86.

Modera Pearl is along the TriMet bus line and fairly close to the Portland Streetcar.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Portland Newsletters
Related Stories

Miami's Building Boom Means Keeping Renters Is Just As Hard As Finding Them

Active Adult Communities Face An Occupancy Dip. Better Tech Could Help Them Stand Out

Austin Multifamily Nears 'Inflection Point' With Early Signs Of Rent Growth

Philly Hits Halfway Point On 30,000-Unit Goal As Mayor Seeks To Spur More Conversions

Fairfax Developers Struggle To Build Enough To Fill Affordable Housing Gaps

J.P. Morgan Fund Sells Wellington Apartments For $105M

South Bay Multifamily Gaining Steam From Rebooted Aerospace, Defense Sector

The Next Phase Of Apartment Search Is Built Around Renter Intent

White House Nominates Matt Jones To Top Roles At HUD, FHA

Mold Is Growing Into Major Problem For Apartment Owners

Build Inc. Served With Notice Of Default On India Basin Project

Tennessee University Plans Campus In Chamblee: The Atlanta Deal Sheet