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Portland's oldest mall will be no more come the end of the year, as developers plan to demolish the 29.3-acre site and build a sprawling, mixed-use property with shopping, recreation and housing.

Why it matters: Not everyone is happy about the change. For more than 60 years, Lloyd Center served as a premier destination for retail and cultural life until the COVID-19 pandemic — coupled with a rise in e-commerce — hobbled anchor tenants and left it a shadow of its former self.

Yes, but: In the years since, small businesses revived the zombie mall into a creative hub (thanks to cheap rents and ample vacant space), while residents resurrected it as a cool hangout spot with weekly chess clubs, an '80s-themed walking group and zine-making workshops.

The latest: Earlier this month, the mall's owners confirmed Lloyd Center has celebrated its last holiday season and that all existing buildings — including the beloved indoor ice rink and adjacent movie theater — will be torn down.

The timelines for demolition and redevelopment remain uncertain.

Aerial rendering shows the proposed Lloyd Center redevelopment with mid- and high-rise buildings, green roofs, tree-lined plazas and a central park, replacing the existing mall site with housing and retail.

An aerial view of what a completed Lloyd Center development could look like, including high-rise housing, an urban park, a public marketplace and courtyards. Rendering: Courtesy of URG and ZGF Architects

Catch up quick: KKR Real Estate Finance Trust and Seattle-based developer Urban Renaissance Group took over ownership of the mall in 2021 after the previous owners foreclosed on a multimillion-dollar loan.

The firms stayed mum on their plans for Lloyd Center until September 2023, when they released an initial proposal. 

It included plans to reconnect the street grid, create a pedestrian-focused promenade, build up to 5,000 mid- and high-rise apartment units and a potential corporate campus, as well as the possibility of a baseball stadium.

People ice skating outdoors in a modern urban plaza surrounded by tall buildings and decorated evergreen trees with lights at dusk.

Proposals for a public, seasonal marketplace include a wintertime ice rink. Rendering: Courtesy of URG and ZGF Architects

State of play: A newly submitted 105-page master plan mirrors the earlier proposal — minus the possible stadium and keeping the ice rink — and details how roughly 23% of the site, set aside as green space, would be programmed.

There'll be courtyards, plazas and a 2.3-acre urban park with a dog run, nature walk and public art scattered throughout, along with a flexible seasonal market square for hosting live performances, farmers markets and a winter ice rink à la New York's Bryant Park — all within walking distance of public transit.

Plus: The plan could deliver up to 1 million square feet of office space, 457,000 square feet of retail storefronts and 5,300 parking spots.

Construction on a new 68,000-square-foot entertainment venue at the former Nordstrom site began last summer.

What they're saying: "We feel a sense of responsibility in bringing this phase of Lloyd Center's existence to a close in a respectful way, and hopefully creating some excitement about what's to come," Thomas Kilbane, URG's managing director, told design commission officials during a public meeting earlier this month.

What we're watching: The Design Commission will hold another hearing next week before it votes on whether the project can move forward.

What's going to replace Lloyd Center

Urban park scene with people relaxing on colorful chairs, walking, and sitting at cafe tables. Modern buildings surround green trees and flower beds under a blue sky.

The redevelopment at Lloyd Center aims to connect the street grid and provide more pedestrian-friendly spaces. Rendering: Courtesy of URG and ZGF Architects

Portland&#x27;s <a class="gtmContentClick" data-vars-link-text="oldest mall" data-vars-click-url="https://www.axios.com/local/portland/2023/10/13/lloyd-center-closing-shut-down-new-building" data-vars-content-id="284d7afc-3e5a-405a-939a-af3c055a7932" data-vars-headline="What&#x27;s going to replace Lloyd Center" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/portland/2023/10/13/lloyd-center-closing-shut-down-new-building" target="_self">oldest mall</a> will be no more come the end of the year, as developers plan to demolish the 29.3-acre site and build a sprawling, mixed-use property with shopping, recreation and housing.Why it matters: <a class="gtmContentClick" data-vars-link-text="Not everyone" data-vars-click-url="https://www.kgw.com/article/money/business/lloyd-center-businesses-patrons-frustrated-mall-planned-closure/283-6c57938f-0ba4-4bc1-ab3f-b932d4e37fc6" data-vars-content-id="284d7afc-3e5a-405a-939a-af3c055a7932" data-vars-headline="What&#x27;s going to replace Lloyd Center" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.kgw.com/article/money/business/lloyd-center-businesses-patrons-frustrated-mall-planned-closure/283-6c57938f-0ba4-4bc1-ab3f-b932d4e37fc6" target="_blank">Not everyone</a> is happy about the change. For more than 60 years, Lloyd Center served as a premier destination for retail and cultural life until the COVID-19 pandemic — coupled with a rise in e-commerce — hobbled anchor tenants and left it a shadow of its former self.

News

Oregon issued only 4,800 new multifamily housing unit permits in 2024 — the lowest total in more than a decade, according to a new Oregon Journalism Project report using federal data.

Why it matters: The state needs tens of thousands of new homes to address its ongoing crisis, and multifamily housing — which includes duplexes, townhomes and large apartments complexes — is widely seen as an effective way to add supply fast, even with economic and land-use constraints.

By the numbers: Gov. Tina Kotek set an ambitious goal of building 36,000 housing units a year from when she took office in 2023 — a number the state has continually failed to meet.

In the last decade, permitting for multifamily housing hit a high in 2019, when 10,500 permits were issued. 

Preliminary numbers for 2025 show equally dismal totals as the year before, with approximately 4,400 permits issued as of October 2025.

The bottom line: The state's housing crisis will become more acute if it doesn't build up to 500,000 more homes over the next 20 years, per a December report from the Department of Administrative Services.

Former state economist Mark McMullen told OJP that cautious lending from banks and higher interest rates are contributing to the squeeze. 

Plus: Out-of-state financiers often look at a city's economic and census growth data before making a decision to lend — two factors that Oregon has working against it now.

Oregon multifamily permits hit 12-year low

Economic headwinds are slowing construction statewide.

Illustration of a small house with different large hands all reaching out to grab it. 

Oregon issued only 4,800 new <a class="gtmContentClick" data-vars-link-text="multifamily housing unit permits" data-vars-click-url="https://www.axios.com/local/portland/2025/09/30/portland-apartment-construction-drop" data-vars-content-id="6f1ec2d9-7082-45ec-ab19-7ac85855c208" data-vars-headline="Oregon multifamily permits hit 12-year low" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/portland/2025/09/30/portland-apartment-construction-drop" target="_self">multifamily housing unit permits</a> in 2024 — the lowest total in more than a decade, according to a new <a class="gtmContentClick" data-vars-link-text="Oregon Journalism Project" data-vars-click-url="https://www.oregonjournalismproject.org/oregon-issues-building-permits-for-multifamily-units-at-the-slowest-pace-in-12-years" data-vars-content-id="6f1ec2d9-7082-45ec-ab19-7ac85855c208" data-vars-headline="Oregon multifamily permits hit 12-year low" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.oregonjournalismproject.org/oregon-issues-building-permits-for-multifamily-units-at-the-slowest-pace-in-12-years" target="_blank">Oregon Journalism Project</a> report using <a class="gtmContentClick" data-vars-link-text="federal data" data-vars-click-url="https://www.huduser.gov/socds/permits/report?geography=states&amp;states%5B%5D=41&amp;report%5B%5D=state_total&amp;counties%5B%5D=41051&amp;periods=monthlyP&amp;years%5B%5D=2025&amp;years%5B%5D=2024&amp;years%5B%5D=2023&amp;years%5B%5D=2022&amp;years%5B%5D=2021&amp;years%5B%5D=2020&amp;years%5B%5D=2019&amp;years%5B%5D=2018&amp;years%5B%5D=2017&amp;years%5B%5D=2016&amp;years%5B%5D=2015&amp;years%5B%5D=2014&amp;years%5B%5D=2013&amp;years%5B%5D=2012&amp;years%5B%5D=2011&amp;years%5B%5D=2010&amp;years%5B%5D=2009&amp;years%5B%5D=2008&amp;years%5B%5D=2007&amp;years%5B%5D=2006&amp;years%5B%5D=2005&amp;series%5B%5D=6&amp;series%5B%5D=1&amp;series%5B%5D=5&amp;series%5B%5D=2&amp;series%5B%5D=3&amp;series%5B%5D=4" data-vars-content-id="6f1ec2d9-7082-45ec-ab19-7ac85855c208" data-vars-headline="Oregon multifamily permits hit 12-year low" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.huduser.gov/socds/permits/report?geography=states&amp;states%5B%5D=41&amp;report%5B%5D=state_total&amp;counties%5B%5D=41051&amp;periods=monthlyP&amp;years%5B%5D=2025&amp;years%5B%5D=2024&amp;years%5B%5D=2023&amp;years%5B%5D=2022&amp;years%5B%5D=2021&amp;years%5B%5D=2020&amp;years%5B%5D=2019&amp;years%5B%5D=2018&amp;years%5B%5D=2017&amp;years%5B%5D=2016&amp;years%5B%5D=2015&amp;years%5B%5D=2014&amp;years%5B%5D=2013&amp;years%5B%5D=2012&amp;years%5B%5D=2011&amp;years%5B%5D=2010&amp;years%5B%5D=2009&amp;years%5B%5D=2008&amp;years%5B%5D=2007&amp;years%5B%5D=2006&amp;years%5B%5D=2005&amp;series%5B%5D=6&amp;series%5B%5D=1&amp;series%5B%5D=5&amp;series%5B%5D=2&amp;series%5B%5D=3&amp;series%5B%5D=4" target="_blank">federal data</a>.Why it matters: The state needs tens of thousands of new homes to address its ongoing crisis, and multifamily housing — which includes duplexes, townhomes and large apartments complexes — is widely seen <a class="gtmContentClick" data-vars-link-text="as an effective way to add supply fast" data-vars-click-url="https://housingtoolkit.nmhc.org/wp-content/uploads/2019/04/D_NMHC_PDF-Sections_Multifamily-Benefits_PG-36-TO-44.pdf" data-vars-content-id="6f1ec2d9-7082-45ec-ab19-7ac85855c208" data-vars-headline="Oregon multifamily permits hit 12-year low" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://housingtoolkit.nmhc.org/wp-content/uploads/2019/04/D_NMHC_PDF-Sections_Multifamily-Benefits_PG-36-TO-44.pdf" target="_blank">as an effective way to add supply fast</a>, even with economic and land-use constraints.

Blueberry fritters, maple bars, loukoumades and cronuts: Brandon Lyons has eaten them all (and more) over the last month in his quest to find the best doughnut in and around Portland.

The big picture: The Rose City-based comedian has always loved doughnuts — he used to ask for them in lieu of birthday cake growing up — so he decided to turn his obsession into a creative, video-based social media chronicle that could also fuel his standup.

Yes, but: He knows critiquing what some consider to be Portland's signature culinary offering is bound to ruffle feathers.

"Like all food tasting videos, these are just my opinion," Lyons told Axios. "I don't think I'm God, I don't think I'm 100% right, I'm just trying to be funny."

Catch up quick: Lyons kicked off the series on Instagram in January with a visit to Coco Donuts, a local chain founded nearly 15 years ago and one of Lyons' favorites.

When judging a shop, he uses a two-doughnut method: He orders one glazed and one specialty doughnut so he can have a baseline to compare to other places and then gives a rating out of 10.

Lyons is specific in his criteria, too. "It's supposed to be light, it's supposed to be fluffy and it should be not oily at all," he said, adding that a doughnut should spring back once bitten and have minimal "goopage" on the bottom.

Zoom in: So far, he's hit up nearly all of Portland's popular haunts: From chains like Sesame, Blue Star and Voodoo to standalone shops like Doe Donuts, Pip's, Yanni's Greek Donuts, Annie's and more.

As the series has gained steam on social media (some videos have garnered up to 75,000 views), users have offered up dozens of more hole-in-the-wall doughnut shops for Lyons to try across the region — and in the process, his reviews have introduced lesser-known bakeries to a broader audience.

"If I can bring business to small businesses right now, that'd be sweet," he said.

The bottom line: Lyons still has dozens of shops left to visit before he crowns a winner, which he admits will likely be "really anticlimactic."

As for whether his newfound following has translated into more ticket sales for his weekly standup shows? Not quite.

Most viewers, he said, "probably think I'm a server at Helium."

Comedian Brandon Lyons stirs up Portland's doughnut debate

Brandon Lyons has pretty specific criteria, too.

Three images of a man in a car wearing different hats, holding donuts and captions showing his 6th, 17th, and 25th days visiting every donut shop in Portland with donut descriptions.

"I can't feel my foot anymore," comedian Brandon Lyons joked of his journey to find Portland's best doughnut. Photos: Courtesy of Brandon Lyons on Instagram

Blueberry fritters, maple bars, loukoumades and cronuts: Brandon Lyons has eaten them all (and more) over the last month in his quest to find <a class="gtmContentClick" data-vars-link-text="the best doughnut" data-vars-click-url="https://www.axios.com/local/portland/2023/06/01/best-doughnuts-portland-oregon-2023" data-vars-content-id="9db75d86-626a-4023-9cd4-27498773abe2" data-vars-headline="Comedian Brandon Lyons stirs up Portland&#x27;s doughnut debate" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/portland/2023/06/01/best-doughnuts-portland-oregon-2023" target="_self">the best doughnut</a> in and around Portland.The big picture: The Rose City-based comedian has always loved doughnuts — he used to ask for them in lieu of birthday cake growing up — so he decided to turn his obsession into a creative, video-based social media chronicle that could also fuel his standup.

Food and Drink

A new matcha cafe is now open in Southwest Portland's West End neighborhood, grinding its own dried, shade-grown tea leaves on site.

The big picture: Mako Matcha Mill is receiving the same amount of buzz — including hour-plus waits  — as Project Matcha, which opened in Central Eastside last spring, luring in hordes of customers with Instagram-friendly drinks and high-quality tea.

Zoom in: The sleek, modern interior space, once occupied by sweet shop Cacao, features the countertop matcha mill where tea leaves sourced from Japan are milled to a fine, dust-like texture leaving the room smelling sweet and earthy. 

Co-owners Edison Zeng and Emily Dewey told Bridgetown Bites they're currently growing matcha in Salem, in collaboration with Minto Island Tea Co., and hope to offer it soon to customers.

People standing in line and sitting at tables inside a modern coffee shop with wooden decor and hanging green fabric. A handwritten menu board lists drinks and prices.

The cafe was packed on a recent weekday during lunchtime. Photo: Meira Gebel/Axios

The intrigue: What sets Mako apart from other local matcha shops is not only their dedication to the production element of matcha itself, but its prices.

 Matcha lattes start at $4 for 12 ounces, a rarity these days in part due to a global shortage. 

Other menu items include a plethora of other teas, like hojicha, oolong, jasmine, white peony and more. Choice of milk and add ons, such as cold foam and specialty syrups, are also available.

If you go: Mako Matcha Mill (414 SW 13th Ave.) is open daily from 9am to 6pm.

Mako Matcha Mill grinds tea leaves in Portland's West End

The cafe mills Japanese tea leaves on site and serves $4 matcha lattes.

Two people on a city sidewalk near white building with signs for "Manly & Sons" and another with floral logo. One person takes photo of drinks held by the other.

Be ready for a line when visiting Mako Matcha Mill. Photo: Meira Gebel/Axios

A new <a class="gtmContentClick" data-vars-link-text="matcha" data-vars-click-url="https://www.axios.com/local/portland/2023/05/18/food-fight-great-matcha-portland" data-vars-content-id="babbdef8-45fd-4f74-b89e-84afa6258c45" data-vars-headline="Mako Matcha Mill grinds tea leaves in Portland&#x27;s West End" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/portland/2023/05/18/food-fight-great-matcha-portland" target="_self">matcha</a> cafe is now open in Southwest Portland&#x27;s West End neighborhood, grinding its own dried, shade-grown tea leaves on site.The big picture: Mako Matcha Mill is receiving the same amount of buzz — including hour-plus waits — as <a class="gtmContentClick" data-vars-link-text="Project Matcha" data-vars-click-url="https://www.pdxmonthly.com/eat-and-drink/2025/07/project-matcha-portland" data-vars-content-id="babbdef8-45fd-4f74-b89e-84afa6258c45" data-vars-headline="Mako Matcha Mill grinds tea leaves in Portland&#x27;s West End" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.pdxmonthly.com/eat-and-drink/2025/07/project-matcha-portland" target="_blank">Project Matcha</a>, which opened in Central Eastside last spring, luring in hordes of customers with Instagram-friendly drinks and high-quality tea.

"Keep it fun" is the guiding principle at Rhinestone, Southeast Portland's Vegas-cowboy-coded cocktail bar, run by bar manager Trevor Thorpe and chef Graham Chaney. 

The menu is just one reflection of that: Flamin' Hot Cheeto-crusted spam sliders, carnitas eggs Benedict, chicken-fried baby-back ribs, and cocktails with names like Helldorado, Get Blasted, and Can I Cricket. 

The big picture: This week, industry veterans Thorpe and Chaney are celebrating one year since they launched the concept of Rhinestone at Too Soon. 

The anniversary caps a rapid evolution. From a pop-up to fully realized bar in less than 14 months, Rhinestone was built without outside investors (a rarity these days) and largely through sweat equity. 

Zoom in: Thorpe and Chaney — formerly of Interurban and Stammtisch, respectively — self-financed the project from the jump and, on a scaled-back budget, tackled the build-out and decor themselves once they found their spot on Southeast Clinton Street and 21st Avenue (formerly the Houston Blacklight).

The pair are operating during a tough time for small businesses. Food costs have swung dramatically — egg prices alone have more than tripled at times — and imported spirits have jumped due to tariffs, Chaney told Axios.

The disconnect between rising costs and what customers expect to pay remains a real concern. "It is really hard to run a tightrope of offering an affordable menu program while still making money at it," Thorpe added.

Cozy restaurant interior with black leather booths, wooden tables, orange chairs, hanging warm lights, framed art, a bar with shelves holding bottles and decor, and a plant on the counter.

"We're gonna prioritize being lighthearted and being silly," chef Graham Chaney said. Photo: Courtesy of Rhinestone

Yes, but: The response from customers over the last year has reinforced their commitment. Initially, guests may come in attracted to the glittery Western aesthetic and Instagram-friendly offerings, only to find a neighborhood bar that takes both drinks and hospitality seriously.

"What most people really want is just good service," Thorpe said. "And they can be a little trepidatious when they're uncertain whether or not they're going to get it, but once they get it, they open up."

The bottom line: The team is still betting on Portland. In the short term, they're rebuilding the outdoor patio for summer. Long term? Opening another space.

"Opening new establishments is simultaneously the worst thing you could ever do and also incredibly rewarding," Chaney said.

If you go: Rhinestone (2100 SE Clinton St.) is open Monday through Thursday from 3pm to 11pm, Friday and Saturday 3pm to midnight, and Sunday 10am to 3pm.

Rhinestone doubles down on fun in year one

The Vegas-cowboy-inspired bar is only serious about one thing: hospitality.

Two bearded men with tattoos stand in front of bar stools and a dark wall. One wears a blue paisley shirt and glasses, the other a Black Sabbath tee and a black cap with yellow text.

Chef Graham Chaney (left) and bar manager Trevor Thorpe are on a quest to keep Portland bargoers on their toes. Photo: Courtesy of Rhinestone

&quot;Keep it fun&quot; is the guiding principle at Rhinestone, Southeast Portland&#x27;s Vegas-cowboy-coded <a class="gtmContentClick" data-vars-link-text="cocktail bar" data-vars-click-url="https://www.axios.com/local/portland/food-and-drink" data-vars-content-id="fef51546-c35c-4595-b272-ae45b5b71705" data-vars-headline="Rhinestone doubles down on fun in year one" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/portland/food-and-drink" target="_self">cocktail bar</a>, run by bar manager Trevor Thorpe and chef Graham Chaney. <ul><li>The menu is just one reflection of that: Flamin&#x27; Hot Cheeto-crusted spam sliders, carnitas eggs Benedict, chicken-fried baby-back ribs, and cocktails with names like Helldorado, Get Blasted, and Can I Cricket. </li></ul>

Meira Gebel

Featured stories

Comedian Brandon Lyons stirs up Portland's doughnut debate

Oregon multifamily permits hit 12-year low

Mako Matcha Mill grinds tea leaves in Portland's West End

What's going to replace Lloyd Center

Rhinestone doubles down on fun in year one