Portland Infill | East of 205

[PhillyPDX]

Originally Posted by urbanlife

I am looking at Fred Meyer Gateway closing as a good thing because that entire shopping center is the ideal location for a major Gateway urban mixed use district

I mean, except for the 250 working class people losing their jobs....

[maccoinnich]

Years ago I worked on a project that would have built an apartment on SW corner of the parking for the Gateway Fred Meyer. I think there were a lot of reasons why that project didn't move forward, but one massive complication was that Fred Meyer had an effective veto over any changes to parking on the site. It was pretty obvious to me that any kind of redevelopment of the site would never happen while the store was open.

Unfortunately the neighborhood is now losing a grocery store and the chances of any redevelopment happening are slimmer than they've ever been. Development isn't penciling in the highest rent neighborhoods in the city, let alone in East Portland.

[mhays]

Originally Posted by PhillyPDX

I mean, except for the 250 working class people losing their jobs....

Not on a net basis. Retail demand won't change. Other stores will hire a similar number in response.

[PhillyPDX]

Originally Posted by mhays

Not on a net basis. Retail demand won't change. Other stores will hire a similar number in response.

Maybe, we don’t know. This closure could be a lagging indicator due to reduced demand, coupled with a local tax system set up to punish big retailers, the very same retailers the working class needs to buy affordable consumer goods. We love to (hear ourselves) talk about affordable housing, but never do we talk overall affordable living, consumer goods, etc. We already lost most city Targets, Walmarts, kohls, Marshall’s, Macy’s. I mean, there is a very obvious trend here. And yet, still we sit here and rationalize away the obvious. Come on people east of 205, just go to Nordstrom downtown.

Realistically, most of the demand will be taken up by places like Amazon. Not other brick and mortar stores, and if so, they will be suburban stores.