Mass timber high-rise project on hold in Portland, Ore.

Inflation, escalating construction costs, and fluctuations in tax credit market are to blame for the Framework project being put on hold.

July 23, 2018 |
Inflation, escalating construction costs, and fluctuations in tax credit market are to blame for the Framework project being put on hold.

Renderings: LEVER Architecture

Framework, a 12-story tall wood building planned for Portland, Ore., has been placed on hold for the foreseeable future.

The structure was billed as the first wood high-rise in the U.S. Initiated in 2014, the mixed-use project was said to push the boundaries of resilient and sustainable innovation.

Changing market conditions in the interim have impacted the project’s bottom line, according to a press release from the developer, The Framework Project, LLC. Inflation, escalating construction costs, and fluctuations in the tax credit market, all contributed to the postponement.

“Although beset with market challenges beyond our control, we are very proud of Framework’s achievements and the new standards we’ve established for the use of CLT in the U.S.,” said Anyeley Hallova, an official with the developer.

Framework was the recipient of a $1.5 million U.S. Tall Wood Building Prize to fund the research necessary to utilize wood products in mass timber high-rise construction ultimately resulting in permits approval for the project which has paved the way for a new wood construction economy. Framework has also won local and national awards in recognition of its innovative and sustainable design.

The Tall Wood Building Prize supported a rigorous 2-year research & development phase and performance-based review process. The result was global breakthroughs in structural, fire, and acoustical performance testing that proved tall mass timber buildings can comply with U.S. building code and paved the way for mass timber construction across the country.

Framework received building permit approvals from the State of Oregon and the City of Portland in June 2017, a milestone for the U.S. construction industry.

 

 

 

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