Quote:
Originally Posted by PhillyPDX
Not sure if this is anything new, but front page news anyway. Will be interesting to see if PP will end up needing to give up some of the lofty goals originally intended, especially since the market (demand, interest rates) have created a vastly different reality (worse for RE) than when Continuum backed out.
https://www.oregonlive.com/business/...r-project.html
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To my mind, this particular development is emblematic of our city government's general dysfunction, in line with the rest of our overwhelmed and hobbled governing institutions. If I personally had any power I would be pushing to dismantle PP and, in this case, just sell the land off immediately to individual developers (unless there is some sort of legal obstacle that I'm unaware of).
We're in the middle of a longterm housing crisis with no end in sight. I suspect that if this property were to be divvied up into smaller chunks and sold off we would at least be more likely to get some diverse and distinct architecture. And get the housing those buildings could provide more quickly. "Market rate" developments would still be subject to IZ and one or more blocks could be set aside for developers who specialize in affordable housing. But the charade continues...