The US National Bank property at the corner of 2nd and Main in old town Hillsboro was only on the market for about 30 days ($3.3 Million) before a buyer was found and a new plan brought forward to study the property for new development. As of last week, the 1-acre site and the 16,000 SF commercial bank building are officially under the control of a pair of private developers, based upon information gathered from local officials. The City of Hillsboro has approved the expenditure of the $25,000 in city funds to be used by the buyers for feasibility work. Those funds are made possible by the terms provided for in the Hillsboro Downtown Urban Renewal Plan. Here is more from the Staff Report issued this week to the City Council.
Please consider this request recommending approval by the Hillsboro Economic Development
Council of the Pre‐Development Grant Agreement (attached) by and between the Hillsboro
Economic Development Council (“HEDC”) and Henry Point Development LLC (“Developer”) and
the disbursement of up to $25,000 included in the Fiscal Year 2020‐21 Adopted Budget for
Concept Planning and Feasibility Analysis for Redevelopment of properties located at 210 East
Main Street and the adjoining parking lot (Figure 1).
Figure 1 below shows the scope of the proposed development.
More from the City:
The City Council approved the $25,000 without discussion in the City Council meeting this past Tuesday night. Here is additional information that was in the report to the City Council about this process and the grant.
The site at 210 E. Main Street was previously occupied by the US Bank Branch Building. The
bank branch closed in 2020, and US Bank listed the property for sale subsequent to closing.
Developer, Henry Point Development LLC has pursued the site and approached the City
regarding pre‐development assistance for concept planning and other feasibility analysis such
as architectural, survey, geotechnical, and / or environmental studies. The HEDC seeks to
provide a grant for 50% of the cost of this feasibility and concept planning work, with a not to
exceed amount of $25,000. The developer would be responsible for the other 50%, and any cost
overages.
The Downtown development code was amended with the Downtown Plan District in 2011 to
better accommodate the type of mixed use, pedestrian friendly development that Hillsboro’s
citizens hope to see in the coming years. This pre‐development grant assistance will further the
goals outlined in the documents listed above.
Economic Development staff is working on a broader Pre‐Development Grant Program to aide
in the redevelopment of properties throughout the Downtown Urban Renewal District, and
anticipates presenting on this program in the near future. This effort will serve as a trial case for
that type of program.
Costs:
HEDC will be responsible for paying up to $25,000 for pre‐development assistance for feasibility
analysis and the concept planning. This cost will be funded from the tax increment from the
Downtown Urban Renewal Area. Costs for staff time and city attorney time are also anticipated.
Henry Point Development, LLC is owned by Travis Henry of Portland, Oregon according to the Oregon Corporate Divisions Website.
The City offered a glimpse into the plans that the developers may be pursuing which include possible grocery, restaurant, and residential uses. No doubt, as the Herald has mentioned before, the site could handle between 90 and 200 residential units (subject to parking), and according to the City Zoning Codes, the building height could be between 70 feet to 100 feet. Hopefully, the developers will want to build a project that is cohesive with the downtown area and reflects a project like 4th and Main or the upcoming Merril Gardens on Main and 4th.
See Building Code Sections –
https://qcode.us/codes/hillsboro/view.php?topic=12-12_61-12_61_400
https://qcode.us/codes/hillsboro/view.php?cite=section_12.50.800&confidence=6
The Henry Point Development website showcases some nice projects which the company has done in the past. We are excited to see what is done with the US Bank property and it is certainly the most important property left in downtown Hillsboro. By reusing the old 1950s bank building it is likely that something can happen sooner than later. Time will tell and the Herald will let you all know what is going to happen as it happens.
Will History be important?
The last big building to get approved was Merrill Gardens. There was very little discussion or attempt to incorporate anything historic into the design of that property. While we all collectively talk about “Historic Downtown Hillsboro” very few people know that the zoning in place and the projects approved are just not really required to look or feel historic. The codes are not there to force the issue.
Merrill Gardens- 7 stories modern retirement apartment project at 4th and Main – Approved
Have a look at this aerial photo showing the 4th and Main mixed-use project and the location of the US Bank property. It is possible that the US Bank redevelopment will create a large modern skyline looming over the NEXUS of Hillsboro’s past. It is also totally possible something better will come. Being committed to History and the benefits of preservation and good design, we certainly hope so.
Downtown needs continued investment and vibrancy. The mixed-use proposal sounds right on target for what is needed and residential rooftops will support our business community and that is a very very desired outcome! We wish Mr Henry and his partners success and are excited to see what their team comes up with going forward!
