The 0.3 hectare site is the site of a former car park and located between 55-71 Ormeau Road and 163-169 Donegall Pass, Belfast.

In December 2017, BDV Pacific Ltd (Barnett Developments) submitted a planning application (LA04/2017/2780/F) proposing the erection of a seven storey residential development comprising 38 apartments with car parking, amenity space and associated site works. This application was approved in March 2019. In this planning application the project was referred to as Portland Phase II.

During 2021-2022, a number of dicharge of conditions were submitted. In these discharge of condition applications, the project was referred to as Portland 38.

In January 2022, construction commenced on Portland 38.