Development News for Lake Oswego, Oregon
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Development News from the latest meeting
June 2 - City Council Meeting
Wednesday, Jun 3, 2026
Council Approves Sixth Amendment to North Anchor Project Agreement, Separating Hotel and Residential Timelines
The council discussed the details of the sixth amendment to the Disposition and Development Agreement (DDA) for the North Anchor project. The amendment separates the timelines for the mixed-use residential project (parcels B and C) and the boutique hotel project (parcel A). The residential project includes 66 apartments, with at least eight affordable units, and ground-floor retail. The hotel project includes an 88-room hotel and a 10,000 sq ft spa/wellness concept. The amendment also modifies default clauses, reducing the cure period and removing financing inability from unavoidable delays. The council expressed concerns about financing for the hotel and the timeline for the residential project.
City Council Discusses Criteria for Library Site Reuse and New Site Selection
The council discussed the criteria for establishing a task force to explore reuse scenarios for the current library site after the library is relocated. The task force will consider factors such as revenue generation, deed restrictions, land use requirements, and community input. The council also discussed the criteria for a second task force focused on selecting a new library site, emphasizing adequate size, accessibility, financial feasibility, and appropriate zoning.
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