AltSource finds a new home in Southeast

By Malia Spencer and Jon Bell  –  Portland Business Journal
Jan 17, 2019, 2:51pm PST Updated Jan 17, 2019, 6:24pm EST

Custom software development firm AltSource is the latest tech company to expand in the popular Central Eastside Industrial District.

This fall, the company, which has 135 employees, moved into a new headquarters at 1120 S.E. Madison St. The new space, which the company owns and renovated, has room for up to 350 people. So far, the company has 115 of its employees in the new office.

At 46,000 square feet, the new office is much bigger than the previous 11,000 square foot space the company had before, said President Dave Moore. And, more importantly, the new office is one contiguous space.

“Walk in now and it’s a good vibe and everyone is clearly working together and it’s easier to see that,” Moore said of the airy new office.

The new office is in an old Hawthorne Boulevard warehouse between Southeast 11th and 12th avenues. The company hired Portland's Siteworks Design Build to convert it into creative office space, including by adding a second story and new glass for lots of natural light. The project also preserved some of the building's old timbers and trusses.

AltSource finds itself riding the wave of digital transformation that is hitting all industries. The 15-year-old company makes custom software for clients to meet mission critical needs or enhance efficiency. Customers range from billion-dollar businesses to $5 million to $10 million companies, Moore said. And industries span small nurseries and retail to telecommunications companies and railroads.

The company grew out of a consulting business that Moore started in 2003. As his clients got bigger, he added staff to help keep up so the customers didn’t outgrow him. It’s been that way ever since.

Moore recruits employees locally and from across the country. All the developers are located in the U.S., and most of them are based in Portland.

The company has plans to add 30 to 40 more people in 2019, but that number could swell to 70 if some projects on the horizon come to fruition, Moore said.

To accommodate that potential growth, the company opted to buy its current building at and rehab the facility to meet its needs. Right now, the extra space is undeveloped, he said. The company plans to hold on to it and not rent it out.

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