Hyatt Place and Allison Residences | 250' | 23 Floors | On Hold

[DMH]

Originally Posted by Derek

They’re still using protests as an excuse in 2023?

Yes! These outdated perceptions continue...

I was with an elderly aunt in Southern California a week ago. She asked me how we in Portland are doing with our continuous protests in the city. I informed her that they ended 3 years ago. She was very surprised because her Fox News sources indicate otherwise.

[uncommon.name]

I have mixed feelings about this one as a Hotelier. The landscape in downtown currently, does not make sense for opening a new hotel. I emphasize currently, because as much as the downtown tourism is struggling to return to pre-covid numbers, we know it will eventually rebound. Hotels and financing typically want to see a 3 year stabilization. If you look at how long a project of this would take to be built and factor in an additional 3 years for stabilization, this hotel would be just fine, operationally. I feel there are bigger issues at play here. Yes, current interest rates could certainly be the main factor and the increase in building materials. But to continue to blame the protests?? Not buying it. I have multiple hotel projects going through in the next two years. Make adjustments to your original stabilized forecast projections/plans and keep moving forward.

[sopdx]

Originally Posted by DMH

Yes! These outdated perceptions continue...

I was with an elderly aunt in Southern California a week ago. She asked me how we in Portland are doing with our continuous protests in the city. I informed her that they ended 3 years ago. She was very surprised because her Fox News sources indicate otherwise.

I read that Trump referred to Portland as a burned-out hulk of a city during last week's Meet the Press. Granted, almost everything he says is a lie, many people pay attention to him and Fox.

I wouldn't be surprised if the majority of the problem is due to funding.

[sopdx]

The contentious 23-storey hotel/apartment project located at 350 NW 12th, received an 'approved to issue' on May 2. Not sure what that means.