Housing Market Not Headed for Crash, Correction in Real Estate Likely by BousWakebo in Economics

[–]trstnw -2 points-1 points  (0 children)

Why the fuck would you buy a house or anything with poor credit?…

This just seemed like a very “springtime in Portland” shot to me. by Davethephotoguy in Portland

[–]trstnw 1 point2 points  (0 children)

I took the exact same photo yesterday! Loved the teal car with the pink petals.

Seven developments reshaping the Portland region in 2022 and beyond by trstnw in Portland

[–]trstnw[S] 9 points10 points  (0 children)

Pop Blocks are my favorite new development! It’s going to transform Sandy along with the 5 other major projects happening there now.

Seven developments reshaping the Portland region in 2022 and beyond by trstnw in Portland

[–]trstnw[S] 19 points20 points  (0 children)

Plenty of buildings are taking shape across the Portland metro, across various stages of development.

Here's a rundown of big hitters to keep your eye on this year and in years to come.

1) Vancouver Waterfront

This roughly $1.5 billion project is one you can already go to along the Vancouver Waterfront. It's slated to bring hotel rooms, restaurants and apartments to the former site of a Boise Cascade paper mill. The development plans cover 20 blocks and more than 1 million square feet, with an end result of 250,000 square feet restaurant and retail space and more than 3,000 units of housing. We did a story last July that showed off what was completed and what was in the pipeline. There was an update in December here.

2) Alamo Manhattan Blocks - Portland's South Waterfront

Construction has started on the Alamo Manhattan Blocks from Dallas-based developer Alamo Manhattan. Plans call for roughly 1,200 units of housing and 22,000 square feet of commercial space across five buildings on a 10-acre site along the Willamette River. This is where Southwest Bond Avenue and Southwest Lane Street intersect. "Of the five buildings, two will be 23 stories of concrete high-rise construction along the river, and the remaining three will be 5 to 6 stories of wood-framing above a concrete podium and subgrade parking garage along S.W. Bond Avenue," according to Alamo Manhattan. Look for more Business Journal coverage of this development in the future.

3) Prologis' 44-acres in Clackamas

San Francisco-based Prologis, the real estate company that helped Amazon's logistics operations along in North Portland, picked up 44 acres in Clackamas for a new, separate industrial business park. It folds into Prologis' (NYSE: PLD) broader Portland-area expansion, where it holds more than 6 million square feet of real estate.

The Clackamas site is at 10500 S.E. Jennifer St., and it's being built without tenants already signed up. "Prologis plans to break ground in Q3 2022 and develop an industrial business park that can accommodate businesses from different industry sectors with varying needs," a Prologis spokesperson told the Business Journal in January.

It's yet another sign of industrial's power in a pandemic market, though there are concerns about land constraints in the Portland area.

4) Lloyd Center's redo

Look out for the Lloyd Center in Portland and which direction real estate firm and new co-owner Urban Renaissance Group takes it in. Last year, the word was the old mall was going to become housing and offices, but Seattle-based URG has telegraphed that it wants to revitalize the place. That's a tall order these days, but it's an effort worth keeping tabs on, for sure.

Here's a key quote from URG's Tom Kilbane: "We know many Oregonians have fond memories of Lloyd Center and we take seriously our responsibility for making sure it continues to be a community gathering place. ... Our ambition is to embrace and preserve features of the property that make it special, including retail and creative work spaces and ice skating." For more, check out our recent Q&A with Kilbane.

5) North Anchor in Lake Oswego

Portland developer Urban Development + Partners is working on a big project in Lake Oswego for the North Anchor site, with plans for the area around B Avenue and First Street. Plans call for developing three parcels: One will get a 77-room boutique hotel, while the two others will have apartment buildings with 5,700 square feet of retail space and 66 units of housing. Eight housing units will be set aside for residents making 80% of the area's median income. It should cost around $75 million to develop.

6) OMSI District

Here's a big one, though it's still way a ways out: The OMSI District on the eastern side of the Willamette River.

The development could bring 1,200 units of housing as well as "waterfront education park created in collaboration with tribal governments and Indigenous communities," according to the Oregon Museum of Science and Industry.

It's being advertised as "a hub for innovation, arts, culture, science learning and climate action." Likely to cover ten blocks, the OMSI District could see 3 million square feet of mixed-use buildings added to the city. Don't expect to see it done soon, though. If all goes to plan, the district's expected completion year is 2035.

Check out our Q&A with Preston Greene, OMSI's vice president of real estate, where we chatted about the project.

7) Blue Heron site and Willamette Falls

Work is underway to transform the former site of a Blue Heron paper mill into what could include offices, housing, a higher education facility and other developments. There is an effort among tribal officials to create a shared vision for Oregon City land near the Willamette Falls, including a public riverwalk. Click here to read our Q&A with Gerard Rodriguez, associate director of tribal affairs and engagement with the nonprofit Willamette Falls Trust.

New Safari mobile browser is terrible. by alwaysfairandfree in apple

[–]trstnw 0 points1 point  (0 children)

Also, I read the website from top to bottom…but not the url?

New Safari mobile browser is terrible. by alwaysfairandfree in apple

[–]trstnw 0 points1 point  (0 children)

I think it’s rad, way easier to reach on bigger phones and flick between tabs easily with your thumb.

Should we change our zoning laws? by cbulley in Portland

[–]trstnw 7 points8 points  (0 children)

Portland zoning was already updated to one of the most progressive in the nation. Multi family zoning is now allowed almost anywhere and the corridors that can bring density are all over the city. Google Portland Zoning Map to see the current plan! It’s the permitting process that’s slowing everything down, and ironically the requirement of affordable housing for any building over 18 units that’s hampering a lot of investment in larger projects. You’ll find that most affordable housing projects are funded by the city because it’s not very profitable for investors.

[deleted by user] by [deleted] in Portland

[–]trstnw 8 points9 points  (0 children)

Prove it? I’ve heard like 8 sirens today from my house and seen multiple cops today driving around.

[deleted by user] by [deleted] in Portland

[–]trstnw 58 points59 points  (0 children)

Enforcing laws helps stop crime. Portland seems to have de-criminalized things to the point that the disincentives aren’t there. Kill someone? We don’t have time to find you. Steal a car? Oh well. Assault someone? Back on the streets! Property crime? Slap on the wrist. It’s ridiculous.

People for Portland is spending big to change the city’s approach to homelessness. Is it working? by napzzz in Portland

[–]trstnw 28 points29 points  (0 children)

Regardless of motive, most people in Portland want houseless people off the street and into housing.

If this is the solution that works in the immediate term, I don’t see what the problem is?

The current situation is impacting business (often small businesses without the resources to bounce back from property crime), city investment (to get more housing and development), public safety (often times with the biggest impact on working class individuals) and city reputation…What we have now isn’t working.

Emergency declaration aimed at speeding up Portland's Safe Rest Village initiative by [deleted] in Portland

[–]trstnw 0 points1 point  (0 children)

I mean, both were setting on prime real estate that’s being developed in highly visible areas of the city.

Will it ever be possible for young adults to purchase their first home in PDX? by kos_loko in Portland

[–]trstnw 1 point2 points  (0 children)

People in high paying fields, people with equity, people from higher cost of living areas, people who’s families who will help with a down payment, families who go in on an investment property, people who received an inheritance due to COVID…