[PDX City-State]

This is very interesting. While I agree that the highest and best use of the property was not its former use, I disagree that a lifestyle center would be it's best future use. Mixed-used pedestrian oriented development in close-in areas is not so much a matter of zoning as it is a matter of taste. People like to live in urban-style developments--and developers that have forsaken this in the past couple of years generally got hit pretty hard in the back pocket. (See Tim Ralston's Riverscape project for an example in how not to develop close-in land; The Rose Garden is another good example of what not to do). Still, the verdict will be out until we see some renderings.

Few inverstors that I know of would use a suburban development as the basis for something far more close-in.