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 parce ...

company based in

Portland, Oregon Portland ( ) is the List of cities in Oregon, most populous city in the U.S. state of Oregon, located in the Pacific Northwest region. Situated close to northwest Oregon at the confluence of the Willamette River, Willamette and Columbia River, ...

. It was founded in 1988 by Tom Moyer. 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 Tom Moyer. 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, downtown Portland, Oregon, Portland, Oregon, United States. Opened in 1984, the square is bound ...

. The Hillman Group later sold its interest in the building to TMT Development. In 2000, the company completed Fox Tower, designed by TVA Architects and built by

Hoffman Construction Company Hoffman Construction Company is a privately held construction company founded in 1922 based in Portland, Oregon, United States. History Lee Hoffman (May 15, 1850 - August 8, 1959) moved to Portland in the 1870s with his family and worked const ...

. 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 neurodegenerative disease and the cause of 60–70% of cases of dementia. The most common early symptom is difficulty in remembering recent events. As the disease advances, symptoms can include problems wit ...

. The 30-story mixed-use Park Avenue West, located next to Director Park 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 2 million workers in over 100 occupations in the United States, Canada, and Puerto Rico. SEIU is focused on organizing workers in three sectors: healthcare (over half of m ...

Local 49 filed a lawsuit seeking to make this happen.

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 BottleDrop who had been previously trespassed for matters relating to alleged pallet theft. Out of this incident, security guard Logan Gimbel working for TMT's contractor Corner Stone Security was convicted of second degree murder in May 2023. Gimbel has been sentenced to life in prison in May 2024.

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