Venerable Properties Buys Salvation Army Property in Southeast

Venerable Properties is known for being a very savvy buyer and developer that often sees not an older dilapidated building with tons of issues but rather what with some thought, creativity and expertise could be a gem Portland would be proud of. A renowned historical developer, Venerable has accomplished many notable renovations in Portland and beyond and was behind the beautiful renovation of several buildings in old town that now houses the U of O's Portland presence. They also restored an older fire station at SE 11th and Stark into cool historic offices. "We saw the history and location and thought this building had great potential" Says Art DeMuro, the fervent preservationist and founder of Venerable Properties, says about the recent acquisition at 200 SE MLK.

With frontage on both MLK and Grand and with the trolley coming nearby, the new Couch couplet and the Burnside Bridgehead project starting to show life, DeMuro saw the potential "Even in down economy this area has prospered and with the big infrastructure investments in the area, we think this area will just continue to improve". The three story building will need full seismic upgrades as well as new electrical and mechanical systems, so basically it will be rebuilt with a very detailed eye to its 100 year old history. Venerable will look to create higher class creative office on the top two floors that have views of downtown and then develop some street retail along MLK.

The building has a long history with the Salvation Army dating back to 1910 and has been throughout its life home for the poor, disadvantaged and most recently a drug and alcohol treatment facility. Venerable like many of its projects with be true to the building's history and will do a first rate and beautiful historic renovation that will be a benefit to the area.