Union pension fund invests in new urban office campus in NW Portland

A 300,000-square-foot urban office development (here in an artist rendering) is under construction at 2030 NW 17th Ave. in Portland, financed by the National Electrical Benefit Fund.
A 300,000-square-foot urban office development (here in an artist rendering) is under construction at 2030 NW 17th Ave. in Portland, financed by the National Electrical Benefit Fund.

An electricians pension fund is financing construction of an urban office campus at Northwest Front and 17th Avenues in Portland, assuring that it will be built with all union labor.

A ground-breaking ceremony was held Oct. 26 for Field Office, a two-building, six-story  development that will offer 300,000 square feet of office and retail space.

Project developers envision a campus hub for high tech and creative companies that will provide office space with connections to the natural environment. The buildings will be clad in dark brick, and feature green roofs and other sustainable amenities. There will be 17 outdoor spaces, an underground parking garage for 355 cars, communal areas, and a commuter lounge.

The $100 million project is being financed by the National Electrical Benefit Fund (NEBF), a pension fund of the International Brotherhood of Electrical Workers and the National Electrical Contractors Association. Developers are Portland-based project and National Real Estate Advisors, a real estate investment firm out of Washington, D.C. National is wholly owned by a subsidiary of the NEBF. This is their first project in Portland.

Lease Crutcher Lewis is the general contractor on the all-union project.

Willy Myers, executive secretary of the Columbia Pacific Building Trades Council told the Labor Press that union pension funds currently have more than $1 billion in play in Oregon, financing 28 projects (Field Office is the 28th.)

Field Office is expected to be completed by the fourth quarter of 2017.

Representing construction trades at an Oct. 26 groundbreaking ceremony are, from left: Iron Workers Local 29 business agent Shane Nehls, IBEW Local 48 union rep Bob Carroll, Columbia Pacific Building Trades Council executive secretary treasurer Willy Myers, Roofers Local 49 business manager Russ Garnett, IBEW Local 48 union rep Jon Jensen, and retired Local 48 union rep Joe Esmonde.
Representing construction trades at an Oct. 26 groundbreaking ceremony are, from left: Iron Workers Local 29 business agent Shane Nehls, IBEW Local 48 union rep Bob Carroll, Columbia Pacific Building Trades Council executive secretary treasurer Willy Myers, Roofers Local 49 business manager Russ Garnett, IBEW Local 48 union rep Jon Jensen, and retired Local 48 union rep Joe Esmonde.

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