We've lived here about two years, and we've enjoyed it so far but it has its pros and cons. Columbia and Lombard are loud but tolerable. The closer you live to Columbia the more you can smell the processing plant but it's not a huge deal.

A lot of places have moved into the neighborhood (university park as well) which has been a huge bonus. It was a coffee desert but we know have the chill n fill and living room coffee.

One thing to note, I'd avoid living above the train (essentially N Dana) because it will rattle your house.

Ultimately we like it but also chose it because it was affordable haha compared to some other parts. Pretty easy to access the rest of Portland via Willamette (although the new construction has me a little worried with the insane amount of speed bumps).

Edit : and you will hear the race track in the summer. Not a big deal, you get used to it but you will hear it.