And if we need to flee for higher ground, we'll have an aerial tram [rim shot].

Oh, come on. You expect a celebrity of that stature to visit Portland?

Where are the ornery street urchins?

This is exciting. Perhaps now the Portland Building will be being completed with the long overdue ears and nose.

Awww come on! I think the metropolitan is actually a pretty decent building (with a rather lame name). Portland needs some taller buildings. Everything in the pearl is the same squat shape. What would you prefer?

I would prefer all the PDC money be spent ripping up those hideous 1970s motel-style apartment buildings blighting large parts of SE Portland. Of course, that's my neighborhood, and so I've got the proverbial vested interest, but still...

This building in particular wasn't funded by PDC. Given, the average price of the metropolitan condos is going to be 800k$ which is a bit rich, but at least its all private money. The metropolitan building is very pedestrian friendly and has a less imposing shape and design than a lot of the buildings in the Pearl. From a design point of view, I appreciate it. Regarding where the PDC should spend its money, I would certainly like the PDC to try to put more emphasis on development of family-friendly units, such as larger apartments and low-income apartments that are actually livable in size. That being said, it is very hard to entice corporations in a capitalist society to do things that are at odds with their profit margin. The market right now is in expensive condos, with buildings still practically selling out before they are built, and that is a hard market force to compete with.

-Greg

Why does Vera look like The Joker from Batman?

Because most of her tenure in office was a sad joke played on the taxpayers of Portland.

Where's the tram???

Greg Passmore at September 20, 2005 :
This building in particular wasn't funded by PDC. Given, the average price of the metropolitan condos is going to be 800k$ which is a bit rich, but at least its all private money.
JK:
What about low cost loans and the like? Did they pay a system development charge? (I don't know these answers)

If it is in the Urban Renewal district, they probably got their streets and other infrastructure paid for by tax incriment financing which forces the rest of the city to pay for their basic services.

Greg Passmore at September 20, 2005 :
. . .with buildings still practically selling out before they are built. . .
JK:
Does anyone know how many units are bought by speculators, instead of to live in?

Thanks
JK

Hi Jim,

I don't know the answers to these questions, but I know that regarding condos, you typically can not have over 30% renters, and its quite difficult to get enough rent from an 800k condo to pay the mortgage, so I would assume most of the people buying these at least intend to live there some of the time.

-Greg