More condos are hitting the auction block in Portland, Oregon. The largest condo project in Portland, the John Ross will be selling off units at a discount. KGW reports that the owners of the project are looking to sell all 303 units by the end of 2010 and to get a jump on that number 50 condos will be sold at auction on April 11th. Minimum selling prices start at $110,000. A penthouse which was once listed at $1.1 million now has a starting bid of $600,000.
Buyers must be prequalifed and show up at the auction with a cashiers check for $5,000. Units are being sold absolute. Building amenities include a private garden on the fifth floor, a beautiful lobby and an amenity room. The building is part of a sustainable ecosystem called South Waterfront, Oregon's first green neighborhood. The building uses energy saving and water conservation techniques. Overall the use of water and energy at John Ross is about 30% less than the conventionally designed buildings of similar size and use.