A planned apartment complex near the Astoria Riverwalk that will combine workforce housing and vacation rentals passed its final city hurdle Tuesday.
The city’s Historic Landmarks Commission unanimously approved developer Walt Postlewait’s proposal for the four-building, 66-unit NorthPost Apartment complex near Safeway. It was the final public hearing the project had to weather, a review triggered by the presence of a historic net shed on the Columbia River known locally as “Big Red.”
Commissioners said they appreciated the attention to detail displayed in the complex’s design, which Postlewait said was intended to pay homage to the old net shed.
“I really think that the team understood the area, understood Astoria and what we’re trying to do,” he said.
The NorthPost Apartments had already landed approval by the Design Review Commission at a hearing last week.
Postlewait, the executive vice president for nonprofit lender Craft3, plans to begin pulling permits from the city soon, with the goal of breaking ground in September.
He has said he hopes to offer 34 apartments in the complex for short-term rental and 32 for long-term rental.
But the final breakdown of vacation to long-term apartments is still being negotiated, he said. It will come down to the cost of developing the complex.
With revenue from the vacation units helping to keep rental costs low for the long-term units, Postlewait hopes to offer the long-term apartments at slightly below market rate.