Park Avenue West Tower           (click to advance slides)

TMT TO BUILD NEW HIGH RISE OFFICE TOWER
PARK AVENUE WEST

January 18, 2007, Portland, Oregon: Developer Tom Moyer today announced plans by his company, TMT Development, to develop a new 33-story high rise, mixed-use office development at Park Block Four in the heart of Portland's downtown central business district. The new $150 million dollar tower to be named Park Avenue West will be one of Portland's tallest buildings, soaring approximately 515 feet in height. The architect is Robert Thompson, founding principal of TVA Architects Inc. TVA Architects also designed TMT Development's Fox Tower, which was the last high rise office tower constructed in downtown Portland and opened in 2000.

The Park Avenue West will include approximately 622,000 square feet comprising 323,000 square feet of Class A office space, 3 floors of retail, approximately eighty-five (85) housing units and 315 underground parking spaces.

TMT Development CEO Tom Moyer said his company is committed to continuing its active participation in creating an exciting downtown and enhancing Portland's future retail, Class A office space and urban housing offerings. Moyer said he expects to begin construction in the fall of 2007. Vanessa Sturgeon, President of TMT, added that the company is optimistic about the synergy this new development will generate with compatible surrounding activities, including the new park at Park Block Five and the development's anticipated contribution to the attraction of flagship retail stores to downtown Portland.

According to Robert Thompson, the mixed use Park Avenue West Tower will play a key role in strengthening Portland's core retail district while adding Class A office space and housing to downtown's ever developing west end. The 515 foot tower will anchor Portland's newest Park Block currently under construction to the south, significantly activating retail energy at the street level while continuing to add to Portland's changing skyline.