TMT Development

Last updated
TMT Development
Type Privately held company
Industry Commercial real estate
Founded1988;36 years ago (1988)
FounderThomas P. Moyer
Headquarters Fox Tower
Portland, Oregon
Key people
Vanessa C. Sturgeon, President
Website www.tmtdevelopment.com

TMT Development is a real estate development company based in Portland, Oregon. It was founded in 1988 by Tom Moyer.

Contents

The company owns and operates 8.5 million square feet of commercial real estate throughout Oregon and southwest Washington state. [1] It is among the largest real estate companies in Portland. [2]

History

1000 Broadway 1000Broadwaystreet.JPG
1000 Broadway

In 1988, the company was founded by Tom Moyer.

In 1991, the company partnered with the Hillman Group to develop a 24-story office building in downtown Portland at 1000 Broadway, blocks from Pioneer Courthouse Square. The Hillman Group later sold its interest in the building to TMT Development.

In 2000, the company completed Fox Tower, designed by TVA Architects and built by Hoffman Construction Company. [3]

In 2011, the family of the founder was engaged in a legal dispute over control when the founder was suffering from alzheimer's disease. [4]

The 30-story mixed-use Park Avenue West, located next to Director Park and the Fox Tower in downtown Portland, was completed in 2016. [5] [6] By May 2016, the office space had been leased. [7] By August 2017, the residential portion was 90% leased. [8] The building was taller than normally allowed by the building code, however TMT made a deal with the city that in exchange for exception from the zoning code on building height, the building would utilize union janitors and security, however these union jobs were not fulfilled. [9] In June 2019, Service Employees International Union Local 49 filed a lawsuit seeking to make this happen. [10]

Shooting by contracted security guard

A company by the name of Cornerstone Security had a contract to patrol Delta Park Center by TMT Development and it was asked to patrol the area leased to the tenant OBRC BottleDrop to monitor fights and drug dealing. [11] In May 2021, a guard working for Cornerstone who was not licensed to carry a gun on the job fatally shot a subject in a vehicle near BottleDrop who had been previously trespassed for matters relating to drug dealing. [12] [2] Out of this incident, security guard Logan Gimbel working for TMT's contractor Corner Stone Security was convicted of second degree murder in May 2023. [11] [13]

Related Research Articles

<span class="mw-page-title-main">Portland Union Station</span> Train station in Portland, Oregon, U.S.

Portland Union Station is a train station in Portland, Oregon, United States, situated near the western shore of the Willamette River in Old Town Chinatown. It serves as an intermediate stop for Amtrak's Cascades and Coast Starlight routes and, along with King Street Station in Seattle, is one of two western termini of the Empire Builder. The station is a major transport hub for the Portland metropolitan area with connections to MAX Light Rail, the Portland Streetcar, and local and intercity bus services. The station building contains Wilf's Restaurant & Bar on the ground level and offices on the upper floors. It also has Amtrak's first Metropolitan Lounge on the West Coast, which is reserved for first-class sleeping car and business-class passengers.

<span class="mw-page-title-main">Port of Portland (Oregon)</span> Port

The Port of Portland is the port district responsible for overseeing Portland International Airport, general aviation, and marine activities in the Portland, Oregon metropolitan area in the United States. Originally established in 1891 by the 16th Oregon Legislative Assembly, the current incarnation was created by the 1970 legislature, combining the original Port with the Portland Commission of Public Docks, a city agency dating from 1910.

<span class="mw-page-title-main">Fox Tower</span> Skyscraper in Portland, Oregon, U.S.

The Fox Tower is a 27-story, 113.39 m (372.0 ft) office skyscraper in downtown Portland, Oregon, along Broadway between Yamhill and Morrison streets. The tower was completed in 2000 at a cost of $64 million, and was named after the Fox Theatre that occupied the site from 1911 until the late 1990s. TVA Architects designed the building and Tom Moyer developed the property.

<span class="mw-page-title-main">Standard Insurance Center</span> 27-story office building in Portland, Oregon

The Standard Insurance Center, originally the Georgia-Pacific Building, is a 27-story office building in Portland, Oregon. Completed in 1970, it currently serves as part of the headquarters of The Standard, the brand name under which Standard Insurance Company and other subsidiaries of StanCorp Financial Group, Inc., do business. Standard also owns the 16-story Standard Plaza, located two blocks south along 5th Avenue.

<span class="mw-page-title-main">Downtown Portland, Oregon</span> Neighborhood in Portland, Oregon, United States

Downtown Portland is the central business district of Portland, Oregon, United States. It is on the west bank of the Willamette River in the northeastern corner of the southwest section of the city and where most of the city's high-rise buildings are found.

<span class="mw-page-title-main">Darcelle XV Plaza</span> Public park in Portland, Oregon, U.S.

Darcelle XV Plaza is a square that was a small park and fountain at the intersection of Southwest Park Avenue and Southwest Harvey Milk Street in downtown Portland, Oregon, in the United States. It received the current name in July 2023. It was named after Hugh O'Bryant, Portland's first mayor.

<span class="mw-page-title-main">Lloyd Center Tower</span> Office building in Portland, Oregon, U.S.

The Lloyd Center Tower is an 88-meter (290 foot) tall office tower in the Lloyd District of Portland, Oregon. At 20 stories, it is the tallest building in Oregon East of the Willamette River.

<span class="mw-page-title-main">Park Avenue West Tower</span> Mixed-use high-rise tower in Portland Oregon

Park Avenue West Tower is a high-rise in downtown Portland, Oregon, United States. The 30-floor tower consists of commercial office space, ground floor retail, and apartments. It is the fourth tallest building in Portland behind the Wells Fargo Center, KOIN Center and the US Bancorp Tower. Developed by TMT Development and designed by TVA Architects. The building is taller than allowed by the zoning code at the time. A deal was made with the city for a variance in exchange for employing union workers—fulfillment is still under dispute.

<span class="mw-page-title-main">Director Park</span> Public park in Portland, Oregon, U.S.

Director Park is a city park in Portland in the U.S. state of Oregon. Opened in 2009 at a cost of $9.5 million, it covers a 700-space underground parking garage, which connects underground to the Fox Tower and the Park Avenue West Tower. Located in downtown on Southwest Park Avenue, the nearly half-acre urban park lacks any natural areas and contains little vegetation.

<span class="mw-page-title-main">Cornelius Hotel</span> Historic building in Portland, Oregon, U.S.

The Cornelius Hotel is a historic hotel building in downtown Portland, Oregon, United States that is listed on the National Register of Historic Places. It was designed by John V. Bennes's firm, and constructed in 1907–08. It ceased to be used as a hotel by the 1950s. A fire in 1985 left the top three floors of the structure uninhabitable. By the early 1990s, the building had been vacated, and it remained vacant for more than two decades. In 2016–2018, it was joined to the adjacent Woodlark Building, extensively renovated, and converted into a hotel. The Woodlark Hotel opened on December 15, 2018.

<span class="mw-page-title-main">Ted Wheeler</span> American politician in Portland, Oregon

Edward Tevis Wheeler is an American politician who has served as the mayor of Portland, Oregon since 2017. He was Oregon State Treasurer from 2010 to 2016.

<span class="mw-page-title-main">Virginia Cafe</span> Restaurant and bar in Portland, Oregon, U.S.

Virginia Cafe, sometimes known colloquially as "VC", is a restaurant and bar in Portland, Oregon.

Thomas P. Moyer was an American movie theater chain magnate, real estate developer, and philanthropist from Oregon. Moyer was known for his lightweight boxing career, his career in entertainment, and for developing several real estate projects, including the 1000 Broadway Building, Fox Tower and Park Avenue West Tower.

Hoffman Construction Company is a privately held construction founded in 1922. It is headquartered in Portland, Oregon. It also has an office location in Seattle. With a revenue of US$3.9 billion in FY2022, Hoffman was the largest general contractor in the Pacific Northwest as of June 2023.

<span class="mw-page-title-main">Guild Theatre (Portland, Oregon)</span>

The Guild Theatre is a historic former theater building in downtown Portland, Oregon, in the United States. The theater was completed and opened in 1927. It closed in 2006 and was converted for retail use in 2018–2019. Since 2019, a Kinokuniya bookstore has occupied the space.

<span class="mw-page-title-main">Jo Ann Hardesty</span> American politician

Jo Ann A. Hardesty is an American Democratic politician in the U.S. state of Oregon who served as a Portland City commissioner from 2019 to 2022. She previously served in the Oregon House of Representatives from 1995 until 2001.

<span class="mw-page-title-main">Broadway Corridor twin towers</span> Proposed building complex in Portland, Oregon, U.S.

The Broadway Corridor twin towers complex was a proposed mixed-use skyscraper complex in the Pearl District of Portland, Oregon. Multi-disciplinary architecture firm William Kaven Architecture proposed the complex as a potential part of the Broadway Corridor redevelopment project. The twin-towered skyscrapers would reach 970 feet (300 m) in height and would have become the tallest building in Oregon, the tallest twin towers in the Western Hemisphere and fifth-tallest in the world. A significant obstacle to the proposal was that current zoning at the site limits building heights to 400 feet (120 m). The proposal was not among the list of three finalists chosen by Prosper Portland in March 2018.

<span class="mw-page-title-main">Cinemas in Portland, Oregon</span>

At the advent of the 20th century, the city of Portland, Oregon, was among the first on the United States West Coast to embrace the advent of the silent and feature film. The city's first movie palace, the Majestic Theatre, opened in 1911. By 1916, Portland had "the finest array" of movie houses on the West Coast relative to its population, pioneering venues dedicated exclusively to screening films. The popularization of the sound film in the early 1920s resulted in another boom of new cinemas being constructed, including the Laurelhurst, the Hollywood Theatre, and the Bagdad Theatre, the latter of which was financed by Universal Pictures in 1926.

<span class="mw-page-title-main">Cider Riot</span> Defunct cidery in Portland, Oregon, U.S.

Cider Riot was an American cider producer with a cider house in the Kerns neighborhood in Northeast Portland, Oregon, from 2016 until November 2019.

<span class="mw-page-title-main">Margot Black</span>

Margot Black is an American tenant rights organizer, activist, grass-roots lobbyist and former political candidate. She helped found and was co-chair of Portland Tenants United, Portland's metro-wide tenant union focused on tenants' rights to secure, safe, affordable and equitable housing, tenant-union organizing, eviction prevention, and providing emergency assistance for renters navigating housing law.

References

  1. Stevens, Suzanne (October 2, 2012). "Fox Tower earns LEED Gold". American City Business Journals .
  2. 1 2 "Security guard charged with murder in North Portland parking lot killing". opb. Retrieved 2021-12-24.
  3. Basalyga, Stephanie (June 13, 2000). "Fox Tower office space a hot commodity". DJC Oregon.
  4. Kish, Matthew (November 17, 2011). "Moyer family dispute ends up in court". American City Business Journals .
  5. Hammill, Luke (March 17, 2016). "Once-halted Park Avenue West tower nears completion (photos)". The Oregonian .
  6. Mehlhaf, Nina (March 15, 2016). "Park Avenue West building shines for opening after recession". KGW .
  7. Bell, Jon (May 25, 2016). "Portland's newest office building is all leased up, but the residential side has a ways to go". American City Business Journals .
  8. Bell, Jon (August 11, 2017). "Park Avenue West fills to the brim with residents and businesses (Photos)". American City Business Journals .
  9. Monahan, Rachel (March 27, 2019). "Developer Promised Union Jobs in Exchange to Build Tall. The Construction Happened. The Jobs Didn't". Willamette Week. Retrieved April 6, 2020.
  10. Monahan, Rachel (June 14, 2019). "SEIU Local 49 Sues Over Park Avenue West's Failure to Hire Union Janitorial Workers". Willamette Week. Retrieved April 4, 2020.
  11. 1 2 "After Indictment of Shopping Plaza Guard for Murder, Prosecutors and Lawmakers Call for Security Reforms". Willamette Week. Retrieved 2021-12-24.
  12. "Guard hired to protect Portland businesses wasn't firearm certified when he killed man". opb. Retrieved 2021-12-24.
  13. "Security guard convicted of second-degree murder in North Portland parking lot shooting". opb. Retrieved 2023-08-07.