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The historic Phoenix Pharmacy building stands at Southeast 67th Avenue and Foster Road.
(Melissa Binder/The Oregonian)
The historic Phoenix Pharmacy building on Foster Road is back on the market, after extended negotiations with Mercy Corps NW and Rose Community Development.
Matt Froman said he and his father, who has owned the building since 1999, are reconsidering whether to continue marketing the building or renovate it themselves.
, said he's dreamed of moving his stove operation to the iconic building the last 15 years.
The 1922 building had been taken off the market for more than six months while Mercy Corps and Rose Community Development considered the Phoenix Pharmacy for a
. The purpose of the program is to give lower income residents a “stake in the upside of gentrification,” said Mercy Corps Northwest director
, by allowing them to invest in property with increasing value for as little as $10 a month.
The agreement to keep other interested developers at bay expired at the beginning of the month, Froman said, so he's getting in touch with people who have expressed interest. He said the offer from the Mercy Corps NW hinged on too many contingencies.
Selling the building to Mercy Corps NW and Rose Community Development isn't off the table, Froman said. The organizations could still propose a winning offer.
Haines said in March the organizations have focused their research in Foster-Powell and Lents, so neighbors there have reason to hope even if the non-profits don't purchase the Phoenix Pharmacy building.
What would you like to see the building become?
Froman said he's open to ideas. Share your ideas for the Phoenix Pharmacy building in the comments.
-- Melissa Binder