TMT Development is a

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels ...

company based in

Portland, Oregon Portland (, ) is a port city in the Pacific Northwest and the largest city in the U.S. state of Oregon. Situated at the confluence of the Willamette and Columbia rivers, Portland is the county seat of Multnomah County, the most populous co ...

. It was founded in 1988 by

Tom Moyer Thomas P. Moyer (March 2, 1919 – November 28, 2014) was an American movie theater chain magnate, real estate developer, and philanthropist from Oregon. Moyer was known for his lightweight boxing career, his career in entertainment, and for de ...

. The company owns and operates 8.5 million square feet of commercial real estate throughout Oregon and southwest Washington state. It is among the largest real estate companies in Portland.

History

In 1988, the company was founded by

. In 1991, the company partnered with the Hillman Group to develop a 24-story office building in downtown Portland at 1000 Broadway, blocks from

Pioneer Courthouse Square Pioneer Courthouse Square, also known as Portland's living room, is a public space occupying a full city block in the center of downtown Portland, Oregon, United States. Opened in 1984, the square is bounded by Southwest Morrison Street on t ...

. The Hillman Group later sold its interest in the building to TMT Development. In 2000, the company completed

Fox Tower The Fox Tower is a 27-story, office skyscraper in downtown Portland, Oregon, along Broadway between Yamhill and Morrison streets. The tower was completed in 2000 at a cost of $64 million, and was named after the Fox Theatre that occupied the s ...

, designed by TVA Architects and built by

Hoffman Construction Company Hoffman Construction Company is a privately held construction founded in 1922. It is headquartered in Portland, Oregon. It also has an office location in Seattle. With a revenue of US$1.4 billion in FY2017, Hoffman was the 4th largest privately ...

. In 2011, the family of the founder was engaged in a legal dispute over control when the founder was suffering from

alzheimer's disease Alzheimer's disease (AD) is a neurodegeneration, neurodegenerative disease that usually starts slowly and progressively worsens. It is the cause of 60–70% of cases of dementia. The most common early symptom is difficulty in short-term me ...

. The 30-story mixed-use

Park Avenue West Park Avenue West Tower is a high-rise in downtown Portland, Oregon, United States. The 30-floor tower consists of commercial office space, ground floor retail, and apartments. It is the fourth tallest building in Portland behind the Wells Fargo ...

, located next to

Director Park Director Park (officially Simon and Helen Director Park) is a city park in Portland in the U.S. state of Oregon. Opened in 2009 at a cost of $9.5 million, it covers a 700-space underground parking garage, which connects underground to the Fox Tow ...

and the Fox Tower in downtown Portland, was completed in 2016. By May 2016, the office space had been leased. By August 2017, the residential portion was 90% leased. The building was taller than normally allowed by the building code, however TMT made a deal with the city that in exchange for exception from the zoning code on building height, the building would utilize union janitors and security, however these union jobs were not fulfilled. In June 2019,

Service Employees International Union Service Employees International Union (SEIU) is a labor union representing almost 1.9 million workers in over 100 occupations in the United States and Canada. SEIU is focused on organizing workers in three sectors: healthcare (over half of member ...

Local 49 filed a lawsuit seeking to make this happen.

Delta Park Center and Oregon Beverage Recycling Cooperative

In 2020, a clash over crowds at the BottleDrop beverage container redemption center located in TMT's Delta Park Center in North Portland has escalated due to the social distancing matters during the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...

. On April 27, BottleDrop's landlord TMT Development set up a fence to limit how many people would line up outside, and keep them off a grass field, which TMT said is not part of BottleDrop's leased area. The appearance of armed guards and the lot fencing represent the new battle lines in a conflict that started on March 27, when TMT Development released a legal notice to OBRC which operates the BottleDrop that they had refused to fulfill the terms of its lease by allowing so many people to gather. TMT has not yet taken any legal action with respect to an eviction.

Shooting by contracted security guard

A company by the name of Cornerstone Security had a contract to patrol Delta Park Center by TMT Development and it was asked to patrol the area leased to the tenant OBRC BottleDrop to monitor fights and drug dealing. In May 2021, a guard working for Cornerstone who was not licensed to carry a gun on the job fatally shot a subject in a vehicle near BotttleDrop who had been previously trespassed for matters relating to drug dealing.

References

{{Reflist, 1 Real estate companies established in 1988 Companies based in Portland, Oregon Real estate companies of the United States Property management companies 1988 establishments in Oregon 1988 establishments in the United States Companies established in 1988