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Cannery Row apartments in Old Town to soon open doors

The 101-unit Cannery Row complex will begin moving in renters on Dec. 1


by: COURTESY OF CAPSTONE PARTNERS LLC - Cannery Row, the new 101-unit complex that will bisect Highland Drive, will begin officially taking tenants on Dec. 1. Currently, the leasing office is compliing an interest list, which already has 30 potential tenants listed.
 The developers of a two-building upscale 101-unit apartment complex in Sherwood’s Old Town area plan to have tenants moving in to one of the structures by Dec. 1.

Leasers for Cannery Row, located on adjacent sides of Highland Drive at Willamette Street, are in the process of taking down names for interested renters.

“We’ve had a lot of interest,” said Jeff Sackett, a principal with Capstone Partners LLC. “I think we have 30 people on our interest list.”

Plans are to open the east building, which will contain the leasing office, first. The west building, which will have a fitness center, is expected to open shortly after that.

The buildings will contain luxury one-, two- and three-bedroom apartments on three floors.

“We also have some one-bedroom lofts,” said Sackett. Six two-story lofts, which have a bedroom that opens to living space below, will be located in the east building, he said. Prices for all four styles of apartments will range from $780 to $1,645 per month with a marketing campaign that empahcizes an urban feel with a small town environment.

Sackett said Cannery Row is unique because of the planned fitness facility and lofts, something not offered by other local apartments. In addition, both buildings will have elevators, something that’s unheard of in suburban rentals, he said.

Parking will be tucked under the buildings or in the back of the apartments. In addition, there will be public street parking on one side of Highland Drive, one side of Highland Drive and on both sides of Columbia Street. During the planning process some residents had expressed concern about future parking problems that could be caused by the new apartments.

It’s been more than six years since Capstone Partners first submitted plans to the city for the project. The Class A apartments will mark the first privately financed project the firm has completed in Sherwood’s Old Town area. Meanwhile, Capstone is planning three retail and commercial ventures nearby, construction that’s expected to happen after the city’s community/arts building is completed, Sackett said. He said none of the buildings would be built on speculation; rather all will be pre-leased before construction begins.

“The apartments are going to bring a lot of folks down there,” said Sackett.




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