My apologies for the poor pic – I snapped it from the morning bus commute. I’ve been noticing this structure being built since the late summer and it’s really starting to take shape.

A bit of digging revealed it’s a public art project. Managed by the Regional Arts and Cultural Council, the project is described as:

Inversion: Plus Minus is a set of towering site-specific sculptures created by artists/architects Annie Han and Daniel Mihalyo of Lead Pencil Studio. Using weathered steel angle iron, the artists are presenting “ghosts” of former buildings at two similar sites along SE Grand Avenue. One site, at Hawthorne Boulevard, will feature a matrix of metal that almost appears as a solid building. In the artists’ words, “The sculptures reference the outer shells of ordinary industrial buildings found in the Central Eastside Industrial Area like those that once existed on the project sites.

Here’s a rendering of the final product which is targeted to be completed by end of the year:

And, here’s the wiki entry.