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Cannery Row, 101-unit complex, opens in Old Town

Buildings are first new apartments in 4 years


by: RAY PITZ - The Cannery Row apartments were officially dedicated Jan. 8 in Old Town Sherwood.
By the time Sherwood’s new upscale 101-unit apartment complex held its grand opening on Jan. 8, more than two dozen units already had been rented at Cannery Row

“We’re 20 percent leased, which for 30 days (being) open is pretty substantial,” Stacy Blanton, asset manager for Capstone Partners LCC, pointed out that day.

Cannery Row — a name reflecting the previous occupant of the property, a fruit and vegetable cannery — is divided into two complexes, an east building containing 48 units, and a west building with 53 units. Both contain luxury one-, two- and three-bedroom apartments on three floors along with six units that contain one-bedroom apartments with lofts.

Blanton said those who first toured the complexes were surprised to find an “amazing community” where “urban meets suburban.”

One of the unique aspects of Cannery Row is the existence of an elevator, believed to be the only one installed in an apartment complex in the city, according to Capstone representatives.

A quick tour of a one-bedroom unit reveals vinyl-planked flooring with walk-in closets, Marmoleum (an all-natural, organic flooring) in the bathroom and granite counters in the kitchen. Blanton said that no details were overlooked during construction with Jeff Sackett, a principal with Capstone Partners LLC, developers of the project, personally picking out the door and cabinet handles.

Vintage furnishings were selected for the model and resident lounge.

Both the east and west wings contain fireplaces with the east side also hosting a resident lounge. Meanwhile, the west building boosts a fitness center that all residents can use.

Parking for the apartments, a concern voiced by some area residents during the planning process, includes reserved onsite spaces, with street parking allowed as well.

Bekah Caetano, property manager for Riverstone Residential Group, said the majority of tenants so far are coming from Sherwood, Newberg, Tualatin, Tigard, Beaverton and Wilsonville.

“They like the location, the proximity to Portland,” said Caetano. “They like the product.”

Big draws, she said, include the design and floor plans along with the fact the units are large and contain walk-in closets.

“Because we have 22 floor plans, there’s something for everybody,” said Caetano. (That includes 10 floor plans for the one-bedroom studio apartments alone.)

Cannery Row also has a diversity of tenants, said Caetano, noting that an 88-year-old resident lives next to an 18-year-old George Fox college student.by: RAY PITZ - Cannery Row apartments are Sherwood's newest take on upscale apartments.

The west complex, which already has four apartments leased, will be ready for move-in by Feb. 1. Free bike storage rooms are available for renters and additional home storage units can be rented as well.

“We are so proud we can’t stand it,” said Capstone’s Sackett during the grand opening. He said he’s been impressed with the response from tenants regarding the first residential project Capstone has completed in Sherwood and the first new apartments built in the city in the last four years.

Noting it’s like night and day from when the company first approached the city several years ago with its proposal, Sackett said the market for upscale apartments is wide open again.

Capstone also is planning three retail and commercial ventures close by. Those will be constructed sometime after the new Community Center is up and running, said Sackett.

“It’s phenomial what they came up with,” said Nancy Bruton, executive director of the Sherwood Chamber of Commerce.

She said she recalled the day several years ago when Sackett and Chris Nelson, another Capstone principal who worked on the project, sat down with chamber executives and first talked about bringing the project to town.

Bruton said she has been particularily impressed with the fact that Capstone worked and supported Sherwood while the project was being completed.




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