TMT Development

TMT Development is a real estate development company based in Portland, Oregon. It was founded in 1988 by Tom Moyer.

TMT Development
TypePrivately held company
IndustryCommercial real estate
Founded1988 (1988)
FounderThomas P. Moyer
HeadquartersFox Tower
Portland, Oregon
Key people
Vanessa C. Sturgeon, President
Websitewww.tmtdevelopment.com

The company owns and operates 8.5 million square feet of commercial real estate throughout Oregon and southwest Washington state.[1] It is among the largest real estate companies in Portland.[2]

History
1000 Broadway

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. 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.[3]

In 2011, the family of the founder was engaged in a legal dispute over control when the founder was suffering from alzheimer's disease.[4]

The 30-story mixed-use Park Avenue West, located next to Director Park and the Fox Tower in downtown Portland, was completed in 2016.[5][6] By May 2016, the office space had been leased.[7] By August 2017, the residential portion was 90% leased.[8] 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.[9] In June 2019, Service Employees International Union Local 49 filed a lawsuit seeking to make this happen.[10]

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.[11] 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.[12][2] 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.[11][13]

References
  1. Stevens, Suzanne (October 2, 2012). "Fox Tower earns LEED Gold". American City Business Journals.
  2. "Security guard charged with murder in North Portland parking lot killing". opb. Retrieved 2021-12-24.
  3. Basalyga, Stephanie (June 13, 2000). "Fox Tower office space a hot commodity". DJC Oregon.
  4. Kish, Matthew (November 17, 2011). "Moyer family dispute ends up in court". American City Business Journals.
  5. Hammill, Luke (March 17, 2016). "Once-halted Park Avenue West tower nears completion (photos)". The Oregonian.
  6. Mehlhaf, Nina (March 15, 2016). "Park Avenue West building shines for opening after recession". KGW.
  7. Bell, Jon (May 25, 2016). "Portland's newest office building is all leased up, but the residential side has a ways to go". American City Business Journals.
  8. Bell, Jon (August 11, 2017). "Park Avenue West fills to the brim with residents and businesses (Photos)". American City Business Journals.
  9. Monahan, Rachel (March 27, 2019). "Developer Promised Union Jobs in Exchange to Build Tall. The Construction Happened. The Jobs Didn't". Willamette Week. Retrieved April 6, 2020.
  10. Monahan, Rachel (June 14, 2019). "SEIU Local 49 Sues Over Park Avenue West's Failure to Hire Union Janitorial Workers". Willamette Week. Retrieved April 4, 2020.
  11. "After Indictment of Shopping Plaza Guard for Murder, Prosecutors and Lawmakers Call for Security Reforms". Willamette Week. Retrieved 2021-12-24.
  12. "Guard hired to protect Portland businesses wasn't firearm certified when he killed man". opb. Retrieved 2021-12-24.
  13. "Security guard convicted of second-degree murder in North Portland parking lot shooting". opb. Retrieved 2023-08-07.
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