Mill Creek Announces Grand Opening of Modera Pearl Apartments

Portland Development Adds 290 Apartment Homes to Thriving Pearl District

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Feb 15, 2018, 12:15 ET

PORTLAND, Ore., Feb. 15, 2018 /PRNewswire/ -- Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the grand opening of Modera Pearl, a nine-story luxury apartment community located at the north end of the pulsating Pearl District.

The walkable, commuter-friendly community features 290 apartment homes and a chic, lifestyle-enhancing amenity package. Modera Pearl began preleasing months prior to the official grand opening, and the community, which welcomed first move-ins in October, is now leasing for immediate move-ins.

"The Pearl District is the most hip, fashionable area of Portland and we're thrilled to be a part of it," said Sam Rodriguez, senior managing director of Portland for Mill Creek Residential. "With the multitude of shopping, nightlife and cultural attractions surrounding the community, Modera Pearl residents are already situated in a prime location. Combine that with luxury living at an ultra-modern community and it becomes an unparalleled experience."

The 301-acre Pearl District features a Walk Score of 96, a Bike Score of 97 and a Transit Score of 86. Within the vibrant district, residents have prime access to a variety of craft breweries, local retailers and contemporary art galleries. In addition, many of the city's key employment centers are within close proximity of Modera Pearl, including Downtown Portland, which is directly adjacent to the Pearl District.

Portland features several prominent national employers, including REI, Nike and Legacy Health, which are less than two miles from the community. Intel, Kaiser Permanente, Adidas, Columbia Sportswear and Providence Health are among several additional nationally renowned companies featuring headquarters within the city.

Situated at 1481 NW 13^th Ave., Modera Pearl residents benefit from a commuter-friendly location along the TriMet bus line with near-immediate access to the Portland Streetcar. The community is also within a short drive of Interstate 405 and Interstate 5, which provide connectivity to the key locales across the metropolitan area. Several nearby parks provide vintage recreational opportunities, including the Waterfront Pearl, Forest Park, Tanner Springs Park, The Fields Park, Jamison Square, Couch City Park and Washington Park.

Modera Pearl consists of studio, 1- and 2-bedroom apartment homes with den layouts and penthouses available. Community amenities include a rooftop pool deck and hot tub, barbecue areas, pet spa, on-site dog park and controlled-access garage parking. Indoor amenities include a clubhouse, 24-hour fitness studio, game room, wine cellar, bike storage and theater room. Apartment interiors feature wood plank-style flooring, quartz countertops, stainless-steel appliances, USB ports and full-size washers and dryers. Select homes include private patios or balconies and separate dining areas.

Including Modera Pearl, Mill Creek has developed six apartment communities in the Portland area, totaling almost 1,300 apartment homes.

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 14 offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York, and Boston. As of September 30, 2017, the company's portfolio comprises 72 communities representing over 19,200 apartment homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.