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J

The article forgot to mention that the full build out of all 130 acres of the South Waterfront is at $10 Billion according to a KGW report on the South Waterfront about a week ago. While $101 million is a lot of money, its not a bad return on investment when you look at the big picture.

JJ

a very measured take. I'm concerned that the Southwaterfront as a scapegoat for all manner of funding woes in the city just isn't smart. Cities reinvent themselves and all contingencies can't be planned for... that is why momentum is so important for developers like Williams & Dame.

MarkDaMan

When reading the article on the MAX this morning I was surprised the story was in the paper at all. It appears to me that Rivera doesn't understand how urban renewal districts operate. From increased taxes from new residents, new tax money is generated and spent on these improvements in the district that currently are unfunded.

That to me is the gist of what Homer was saying on the back page of the article almost 3/4 the way through. From what I can tell, Rivera thinks all the ammenities should be built now, before residents and workers move in.

Part of building a district is putting in one block at a time. OHSU doesn't work without the tram, the parks don't happen without the condo towers, the condo towers wouldn't be going up as quickly without OHSU locating down there. The circle goes round and round and each is an intergral building block in the forming of a new district.

Part of the problem is that the developers, city, and OHSU marketed this glorious district that was going to rise, without adequately explaning to the public how each part is built in stages. I think there is an expectation that one day people were going to head into work, come around the I-5 curves and see a completed district at no cost to them.

As for the affordable housing, I say sit on it for another year. Steel prices are too high to support high rise low income housing. Since all indicators point that the majority of the US contruction booms seems to be wrapping up, I'd bet steel prices begin to drop in the near future. I'd rather get a better building and more housing at an appropriate time, than forcing the city's hand now and getting another Sitka.

The article also failed to mention that the condo buildings are going up faster than planned and at a higher price point, meaning that the tax return estimates will eventually be higher than predicted.


Steve

No problem, lets give them a few more tax abatements to sell the units faster and then close some schools to help pay for it.

I think PDC and CoP has lost focus of what is important - building $1M condos or providing basic services. How does this help anyone who does not live/work between the Willamette and I-405 (yes, I am including SoWa in this area just barely.)

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