Why a Texas developer is betting $450M on Portland's South Waterfront

With a first phase already under construction, the Alamo Manhattan Blocks should open nearly 1,200 apartments, including 58 units of affordable housing.

PORTLAND, Ore. — At a recent real estate breakfast near the Oregon Convention Center, the keynote speaker told audience members that relatively few dollars tend to come into the Portland region from places like Texas; money usually flows from California, Seattle and New York.

Someone tell that to Matt Segrest.

His firm, Dallas-based Alamo Manhattan, is the developer behind one of the flashiest projects on Portland’s South Waterfront — one he estimates will cost at least $450 million to build. For scale,

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