Downtown Rockwood: Gresham, OR (Closed May 2019)
Capital Peak Partners represented RKm Development and in close coordination with the City of Gresham closed a $20 million New Markets Tax Credit financing for phase 1 of the $70 million redevelopment of Gresham’s Downtown Rockwood community in May 2019. Downtown Rockwood’s Phase 1 consists of a four-story office building with retail storefronts on the ground floor along with the substantial rehabilitation of an existing building. Space in the buildings was vastly preleased to non-profit organizations including WorkSource Oregon, Mount Hood Community College, and a Federally Qualified Health Center, Wallace among others. Capital Peak Partners is currently representing RKm Development and in close communication with the City of Gresham on phase 2 of Downtown Rockwood which has secured $9 million of New Markets Tax Credit allocation for the new construction of a 30,000 square feet 2-story building that will be occupied by a fresh food marketplace which is expected to close in May 2020.
Press Release: (https://greshamoregon.gov/Rockwood-Rising/) and (https://www.oregonlive.com/business/2019/05/greshams-long-planned-rockwood-rising-development-gets-underway.html):