Quote:
Originally Posted by johnliu
I don't understand how a ballpark will spur housing development in the Lloyd District.
If previous apartment projects in the Lloyd are not penciling out (Oregon Square, Regal parking lot), will they be more economically viable because a ballpark is next door? Will having a ballpark next door increase the achievable rents? Or reduce the development or management costs?
|
As I mentioned previously, I think it
could spur development, but I don't believe it's a sure thing. New stadiums can increase the property values of the real estate in close proximity. More demand for hotels, retail in and around the stadium, etc. I'm not a developer, but it seems like property in and around Lloyd site with a new stadium and amenities would be more attractive to invest in than its current state as a mall. I'd venture to guess the lack of a high level vision or direction for the district has played a role in some projects getting delayed or scrapped. We'd have to see real numbers shake out from projected costs, so you could be right in that it doesn't change anything.
That area just has a plagued development history and I really want it to succeed. Bikeportland has an interesting
article on the history.