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A promising development project in the heart of Northwest Portland has hit a snag, leaving its future uncertain.

The NW 23rd and Marshall Apartments, a mixed-use building conceived by Vancouver-based developer C.E. John Co., was designed to be five-story, mixed-use building with 74 apartment units over 10,000 square feet of retail space and underground parking with 44 vehicle spots.

However, at present, the project has been delayed indefinitely and placed on the market, said Mark Osbourne, vice president of leasing at C.E. John Co.

Osbourne added that there was less interest in the retail space than initially expected, and coupled with the ongoing increase in construction costs, led to the project being put on hold.

C.E. John Co. acquired the half-block property, at 2315 N.W. Marshall St., along Northwest 23rd Avenue, directly opposite the Legacy Good Samaritan Medical Center, for $6.575 million in January 2019, public documents show.

The project gained approval from the Portland Design Commission in May 2021. During the approval hearing, GBD Architects, the design firm, requested approval for two different exterior materials: metal cladding or stucco, contingent on cost. The request raised concerns among commissioners at that time, underscoring the persistent challenges that project teams face due to unpredictable supply costs.

The demolition of the former one-story building on the site was completed over a year ago. Currently, the vacant area is fenced off amidst the commercial activity along 23rd Avenue.

Presently, a building permit for excavation, shoring and foundation work has been approved by the Bureau of Development Services. Additionally, a $19 million building permit for the structure is under review.

Osbourne said that C.E. John Co. is exploring various options for the property, and there is a possibility of revisiting development of the site within a year.