In February of 2020, KGW News aired a segment on the projected Portland of 2030. A futurist said there would be helipads on top of high-rises to dock our flying vehicles, and reporters noted how buildings would integrate more plant life, somewhat like the then-new Tree Farm, only less stylized. Naturally, the Ritz-Carlton tower showed up in the mix, to represent the future skyline.

Completed three years later, at 464 feet tall, the tower (formally called Block 216) is currently the city's fifth tallest. Dreamed up by Portland developer Walter C. Bowen and the BPM Real Estate Group, the idea was to bring five-star luxury to Portland via a Ritz-Carlton hotel—the first outpost for the brand in the Pacific Northwest—as well as 132 condominiums, office space, and retail.

The project was considered risky when it was first announced in 2019, not only because it replaced a much-loved food cart pod, but because most Portlanders don't exactly claim to be ritzy. Still, once done, The Architect's Newspaper called it a "crystalline tower." The architects themselves, GBD, describe the building as "the shape of a pure 'gem' in Portland’s skyline." Early visitors marveled at how it looked just like the rendering, and we appreciate that it's certified LEED Gold.

Love it or hate it—the truth is, most skyscrapers are treated like any trend, both revered and reviled as the years pass (except maybe the Wells Fargo Center, to which everyone just shrugs). Case in point: the KOIN Tower. Once the subject of angry letters to The Oregonian about the views it blocked in 1984, more than 30 years later, it's on nostalgic Nike T-shirts.

As for the Ritz, the future is now—and, after a January 2026 announcement, it's 50 percent off. Take Unit 2204, the smallest on offer. With 1,052 square feet, one bedroom and two bathrooms, it's going for $615,000, rather than over a million, and with lots of upscale finishes, as expected. Like the engineered white oak floors and Sherwin-Williams "Pure White" walls in the open living spaces. In the kitchen, find custom Pedini cabinetry, a quartzite counter waterfalling over the island, and appliances like a Wolf cooktop and Sub-Zero refrigerator.

The bathrooms, including a powder for guests and a primary suite, are splashed out in marble, with a double vanity and wet room with soaking tub in the latter. Sure, this is the smaller apartment, but there's lots of extra room around the edges, from the four-seater kitchen island to 238 square feet in the bedroom, and that's not counting the walk-in closet. There's even a balcony to get closer to the views, which are nothing less than spectacular, seeing as how this is 22 floors up and facing the West Hills.  

Of course, much of the luxury is found in the amenities, which make it so you can feel like you're living the five-star hotel life year-round. (We dubbed it the "Ritzverse" after our visit.) A $1,551/month HOA enables access to an infinity pool, fitness center, owners’ lounge, and 24-hour concierge. There's no helipad, but public-facing perks include a spa, fine dining on the 20th floor, lobby bar, and café, all of which seem like a perfectly good spot to raise a glass of Moët. 

Listing Fast Facts

• Address: 550 SW 10th Ave #2204, Portland, OR 97205
• Size: 1,052 square feet, 1 bed/2 bath
• List Date: 2/18/2026
• List Price: $615,000, with $1,551/month HOA dues
• Listing Agents: Patrick Clark, Christie's International Real Estate Evergreen

Melissa Dalton is a freelance writer who has focused on Pacific Northwest design and lifestyle since 2008. Contact Dalton here. 

Editor’s Note: Portland Monthly’s “Property Watch” column takes a weekly look at an interesting home in Portland’s real estate market (with periodic ventures to the burbs and points beyond, for good measure). Got a home you think would work for this column? Get in touch at [email protected].