TMT Development
| Company type | Privately held company |
|---|---|
| Industry | Commercial real estate |
| Founded | 1988 |
| Founder | Thomas P. Moyer |
| Headquarters | Fox Tower Portland, Oregon |
Key people | Vanessa C. Sturgeon, President |
| Website | www |
TMT Development is a real estate development company based in Portland, Oregon. It was founded in 1988 by Tom Moyer.
The company owns and operates 8.5 million square feet of commercial real estate throughout Oregon and southwest Washington state.[1]
History
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.[2]
In 2011, the family of the founder was engaged in a legal dispute over control when the founder was suffering from alzheimer's disease.[3]
The 30-story mixed-use Park Avenue West, located next to Director Park and the Fox Tower in downtown Portland, was completed in 2016.[4][5] By May 2016, the office space had been leased.[6] By August 2017, the residential portion was 90% leased.[7] 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.[8] In June 2019, Service Employees International Union Local 49 filed a lawsuit seeking to make this happen.[9]
In 2020, a clash over crowds at a BottleDrop center in North Portland has escalated due to the coronavirus pandemic. On April 27, landlord TMT Development of the BottleDrop set up a fence to limit how many people would line up outside, and keep them off a grass field.[10] The appearance of armed guards and the lot fencing represent the new battle lines in a conflict that started on March 27, when TMT Development released a legal notice to ORBC that the BottleDrop had refused to fulfill the terms of its lease by allowing so many people to gather. TMT has not yet taken any legal action with respect to an eviction.[11]
References
- ^ Stevens, Suzanne (October 2, 2012). "Fox Tower earns LEED Gold". American City Business Journals.
- ^ Basalyga, Stephanie (June 13, 2000). "Fox Tower office space a hot commodity". DJC Oregon.
- ^ Kish, Matthew (November 17, 2011). "Moyer family dispute ends up in court". American City Business Journals.
- ^ Hammill, Luke (March 17, 2016). "Once-halted Park Avenue West tower nears completion (photos)". The Oregonian.
- ^ Mehlhaf, Nina (March 15, 2016). "Park Avenue West building shines for opening after recession". KGW.
- ^ 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.
- ^ Bell, Jon (August 11, 2017). "Park Avenue West fills to the brim with residents and businesses (Photos)". American City Business Journals.
- ^ 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.
{{cite news}}: CS1 maint: url-status (link) - ^ 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.
{{cite news}}: CS1 maint: url-status (link) - ^ Tilkin, Dan (27 April 2020). "Tensions rise with new fence around Portland bottle drop". Portland Tribune. Retrieved 6 May 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ Mesh, Aaron (30 April 2020). "North Portland BottleDrop Landlord Deploys Armed Guards". Willamette Week. Retrieved 6 May 2020.
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