The tower might actually restart and will be getting taller??? I think I just shipped my pants! This is potentially good news for Portland and would be a huge impact on the skyline.
Quote:
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“They still need to go up a little more before the Class-A rents are high enough to justify new construction,” said Patricia Raicht, vice president for research at Jones Lang LaSalle in the Northwest. “We still have a little ways to go there unless a developer can secure a pretty substantial pre-lease commitment.”
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This is also promising in the sense that the Portland market is moving in the right direction that we eventually could see a building boom in the commercial sector...though the down side would mean that the costs in sq ft would be going up considerably and making downtown that much more expensive.
I am on the fence with this because I like that Portland can brag about being the most affordable big city on the west coast, but I also want to see a commercial building boom in downtown, along with a residential building boom in downtown and around the city.