According to an early assistance intake report filed with the city’s bureau of development services, a pre-application conference has been scheduled for Joshua Scott, owner and vice-president of Koz Development, to discuss a project at 4708 N.E. Sandy Boulevard, the current site of Umpqua Bank’s Hollywood branch, just west of the Ambassador restaurant and across 47th Ave. from Killer Burger.
The proposal calls for demolition of the existing building and construction of a new, six-story, 114-unit studio apartment building with ground floor retail and nine parking spaces.
Umpqua Bank is listed as owner of the property and the bank may be planning to re-open a branch in the new building after construction is completed.
The property is a little more than three blocks south from another large apartment project proposed for a former Taco Time property at 5036 N.E. Sandy Blvd. That six-story project will have 82 units and 19 parking spaces and has sparked some concern among neighbors with its impact on parking, traffic and character of the existing neighborhood.
Koz Development, based in Snohomish, Wash., designs, develops and constructs micro-housing in urban infill locations and builds student housing for universities across the country. They have a reputation for developing affordable housing solutions and currently have at least three projects underway in the Portland area: a 30-unit project in the Goose Hollow neighborhood, a 108-unit project near Portland State University and a 128-unit project near the Pearl district. The Goose Hollow job is expected to complete this winter and the other two are anticipated to finish in the summer of 2018.
According to the company’s website, Koz aims to keep base rents at approximately 60 to 70 percent of comparable studio apartments – in quality and location – and those rents are collected in a single electronic payment, with no additional charges for utilities or internet. Koz projects are typically comprised of small studios, offering a private bathroom and kitchen area combined with a living space that includes a bed, desk, chair, table and storage area. The apartments share common areas for entertaining, a laundry space, communal storage space for bikes and shared outdoor space on roof decks and/or ground-floor patios.
As a property management team, the company claims a commitment to an environment where residents connect with each other and with their community. To accomplish this sense of community within their buildings, Koz hosts monthly social events at local businesses or at their buildings or rooftop common areas.
For more information, visit www.kozdevelopment.com.