Nearon awarded hotel, condo plan for Foss

California-based Nearon Enterprises edged out the Portland firm of Williams & Dame for the right to develop two parcels of land along the Thea Foss Waterway.

The Foss Waterway Authority voted 4-2 for Nearon’s plan – with reduced costs and a shorter timeline than their competitor – to build a condo, hotel and retail space on land between the Thea’s Landing residential complex and the 15th Street Bridge.

Nearon’s plans call for a 106,400-square- foot, 124-room hotel; an L-shaped luxury apartment complex with 216 units; commercial and retail space; and marina support space.

The estimated cost is $45 million, with an estimated completion date of May 2005.