A brief history to provide some perspective:
McCormick Pier was the first substantial project leading to the conversion of the industrial area north of Burnside, resulting in the creation of what is now called The Pearl District. It is the root of The Pearl’s trunk.
In 1979, the Bill Naito Co. acquired the property from Union Pacific. Bill Naito was widely recognized for taking on ventures that were at least as beneficial to the community as they were potentially moneymaking. In 1981 he built the 300-unit McCormick Pier Apartments along the waterfront, replacing a derelict warehouse district and providing needed middle-income housing in an area where other developers had concluded it could not succeed.
The company sold the property in 2002 to a developer who successfully converted the apartments into condominiums. 
Naito Parkway is named for a responsible developer who had a great influence on Portland’s growth into a unique and desirable city.
Ref:
bit.ly/23xnfC9
Ref:
bit.ly/23xnD3L