Astoria Waterfront
66 Unit Development | Astoria, OR






The story of Astoria Waterfront | Our team was presented with the opportunity to revitalize a stalled development project in Astoria, Oregon, we saw more than just a challenge—we saw potential. The half-built, 66-unit apartment complex, perched along the Columbia River with breathtaking panoramic views, was waiting for someone to reimagine its future. We knew we had to take a run at it.
After a long negotiation period, we agreed on a purchase price of just over $5 million for the property as-is. We budgeted $6M to complete the project and our construction lender required just over $3M in equity. We sourced a team of investors and closed on the project March of 2024.
Our team tore off all of the compromised building components. Worked through various issues and eventually delivered the project to the market in September 2024. We're proud to announce we came in under budget and are exceeding our proforma rents by over $300 per unit per month. We believe this project is valued around $17M now.
The successful completion of Astoria Waterfront stands as a testament to what can be achieved with vision, perseverance, and collaboration. At Skyline Builders, we’re proud to have played a role in transforming this stalled project into a thriving residential community that adds value to Astoria and its residents.
As we continue to pursue strategic partnerships and impactful developments, projects like Astoria Waterfront inspire us to push boundaries and embrace opportunities that others might overlook.
Our team thrives on turning challenges into opportunities. By uniting the right people, resources, and vision, we build more than properties—we create lasting impact.