no, that article is a bunch of shit!
Why is it that they didn't post this until almost the end of the article?
"Homer Williams, one of a team of developers pioneering the project with the PDC, said tax revenue soon to rise within the project's urban renewal district will cover much of the need for public parks and affordable housing, among other things. Beginning in April, the formerly vacant industrial area will be home to condominium owners who will pay taxes on their new properties.
"We're going to start accelerating planning and initial improvements in both the parks and the greenway," Williams said. "We're going to accelerate the affordable housing program. So those are very positive things." "
I wrote this on PDX Arch about this too:
"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."
-It was a laaaazy article meant to stir up additional anti-tram, anti-SoWa anger because the Oregonian for whatever reason, felt the Tribune was getting a scoop and didn't want to lose out on the Portland trashing our daily and semi-weekly have been actively engaging in.
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make paradise, tear up a parking lot
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