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  #561  
Old Posted Sep 19, 2007, 12:06 AM
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actually Leo, Portland's rents are rising, especially in corporate complexes, and vacancy is at a 10 year low. In certain situations I'm sure rents are not incredibly much different. Many Portland apartments are small buildings, 10 to 30 units, owned by local landlords. My current landlord hasn't raised any of his rents more than $50 an apartment since he bought the place years before I lived there. His justification is that his mortgage payments didn't go up, so why should he jack the rates. He says he raises the rates by a little bit at a time because the cost of water and garabage, as well as the cost of power used in the common areas continues to go up. Otherwise he just assume leave the rents where they are. How very Portland of him, I think.

Otherwise, you look at Harsch, Guardian or other corporate managers and you will see rents increases by sometimes up to $100 between tenants.
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  #562  
Old Posted Sep 19, 2007, 12:23 AM
pdx97209 pdx97209 is offline
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The Wyatt

The Wyatt announced today that they are canceling all of their condo sales and will instead complete the building as a rental project. This was confirmed by the sales staff at Pearl Real Estate.
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  #563  
Old Posted Sep 19, 2007, 1:02 AM
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The Wyatt announced today that they are canceling all of their condo sales and will instead complete the building as a rental project. This was confirmed by the sales staff at Pearl Real Estate.
That's pretty big news. I wonder if the Encore is next. Arguably, pre-sales have been just as slow, and Hoyt Street Properties is in a better position to manage rentals than Pearl Real Estate ...

How did they announce this?

Last edited by Leo; Sep 19, 2007 at 1:03 AM. Reason: Added question
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  #564  
Old Posted Sep 19, 2007, 1:14 AM
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actually Leo, Portland's rents are rising, especially in corporate complexes, and vacancy is at a 10 year low. In certain situations I'm sure rents are not incredibly much different. Many Portland apartments are small buildings, 10 to 30 units, owned by local landlords. My current landlord hasn't raised any of his rents more than $50 an apartment since he bought the place years before I lived there. His justification is that his mortgage payments didn't go up, so why should he jack the rates. He says he raises the rates by a little bit at a time because the cost of water and garabage, as well as the cost of power used in the common areas continues to go up. Otherwise he just assume leave the rents where they are. How very Portland of him, I think.

Otherwise, you look at Harsch, Guardian or other corporate managers and you will see rents increases by sometimes up to $100 between tenants.
I must've just gotten lucky then because the rent in my current apartment has stayed the same over the last two years also. I did notice that there are fewer vacancies, but I'm betting that at least 25% of my building is corporate rentals right now.

But I guess I'm also comparing rents against a time period when there was very high rental demand (Y2000). I had to spend three weeks in a motel before my apartment became available!

There's some business sense to keeping rents stable even when everyone else is jacking them up. After all, turnover is not inexpensive, and if he has decent tenants it could be worth the lower rent ...
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  #565  
Old Posted Sep 19, 2007, 1:23 AM
pdx97209 pdx97209 is offline
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The Wyatt

The staff at The Wyatt started calling buyers today to give them the bad news.
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  #566  
Old Posted Sep 19, 2007, 2:32 AM
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I wonder if the Encore is next. Arguably, pre-sales have been just as slow, and Hoyt Street Properties is in a better position to manage rentals than Pearl Real Estate ...
Oh the Encore, in some of those condos you cold reach out and touch the freight trains. I'm not sure who thinks living on train tracks are 'luxury' but I'd like to smoke what they are smokin'
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  #567  
Old Posted Sep 19, 2007, 10:56 PM
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Here is an infill in Irvington. I think this well really fit the neighborhood. The
rendering looks great! (IMO)


http://www.portlandonline.com/shared....cfm?id=168265
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  #568  
Old Posted Sep 20, 2007, 7:35 AM
zilfondel zilfondel is offline
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Originally Posted by MarkDaMan View Post
actually Leo, Portland's rents are rising, especially in corporate complexes, and vacancy is at a 10 year low. In certain situations I'm sure rents are not incredibly much different. Many Portland apartments are small buildings, 10 to 30 units, owned by local landlords. My current landlord hasn't raised any of his rents more than $50 an apartment since he bought the place years before I lived there. His justification is that his mortgage payments didn't go up, so why should he jack the rates. He says he raises the rates by a little bit at a time because the cost of water and garabage, as well as the cost of power used in the common areas continues to go up. Otherwise he just assume leave the rents where they are. How very Portland of him, I think.

Otherwise, you look at Harsch, Guardian or other corporate managers and you will see rents increases by sometimes up to $100 between tenants.
My old studio apartment in NW Portland went from $435 to $650 in only 2 years. I got out right before it went up again... damn good deal at the time, tho. Hardwood floors and everything (even vintage wiring and a 1920s telephone painted over on the wall!).
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  #569  
Old Posted Sep 20, 2007, 3:51 PM
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Ideas drive cab company’s building design

Signature yellow paint, potential solar system signal a new turn for Northeast industrial area
POSTED: 06:00 AM PDT Thursday, September 20, 2007
BY ALISON RYAN

The view from the built-in staircase bench at Broadway Cab’s new Northeast Portland headquarters is prime. On one side, the Broadway Cab logo pops against a bright yellow elevator shaft. On the other, a wall of windows looks out on a heady transportation mix of train, car and plane traffic.

“Their business is about transit. Here you are in a cab company building, and there’s all this,” architect Liz Williams said, sweeping her arm across the scene of planes, trains, and automobiles.

Broadway Cab’s 200 vehicles and 300 drivers used to be tucked beneath the Fremont Bridge in Northwest Portland, in a spot that functioned fine without high design. But Pearl District development and a growing company made the move financially and logistically smart.

Cab companies don’t, as a rule, develop buildings. And design, Williams said, was tricky for a couple of reasons. Industrial zoning is ideal for a transportation company, but it limits office space to 3,000 square feet. The actual space also had to consider the needs of three groups – drivers, dispatch and an administrative team – that work in dramatically different shifts and settings.

Outside, the building nods to industry with the use of corrugated metal. But the metal is paired with warm wood, which borders windows and entry points, and the building shape curves and jets in ways that traditional industrial buildings don’t.

“It’s mean to fit in the I-zone, in terms of its massing,” Williams said, “but I also wanted it to be playful and comfortable for workers and drivers.”

Inside, an elevator lobby and central staircase divide the building. Downstairs, the space separates the light-filled quiet of the dispatch office from the driver’s room, which offers a place to play pool, watch TV, snack or pull up the roll-up door to access an adjacent courtyard.

Upstairs, the central stairs emerge onto a second-floor lobby space that’s bordered by administrative offices on one side and rooms for training – or “cabbie college” – and meetings on the other.

Creating an inexpensive office space, said contractor Carrington Barrs, was a big goal.

“Normally we would have built just a straight boxy building,” he said, “but we were able to make it more interesting for not that much more cost.”

And because Barrs & Genauer Construction exclusively builds sustainable projects, green elements were a must. Most of the wood was Forest Stewardship Council certified, with much of the interior wood coming from the deconstruction of an existing building onsite. Low-flow features, efficient lighting, low-VOC finishes and stormwater swales also were used.

The building, Barrs said, is also ready for photovoltaics, an addition that owners are considering.

“We literally moved the building 90 degrees so we could take advantage of the solar orientation,” he said.

Pushing the building right to the traffic-crossed edge of the property took advantage of another site feature. Drivers barreling down Northeast Killingsworth and Columbia streets have a prime view of the bright elevator shaft, which is lit at night. And Williams almost made a bigger splash with the signature color, she said, but in the end, the sunny stairway slice was it.

“At one time, the building was going to be yellow,” she said. “Corrugated metal, painted yellow.”
http://www.djcoregon.com/articleDeta...-system-signal


(from the article)
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  #570  
Old Posted Sep 21, 2007, 4:12 PM
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Lents sees high-impact project potential
Big efforts – like a transit-oriented, development-ready parcel of land and a senior housing development – are on the horizon for the urban renewal area
POSTED: 06:00 AM PDT Friday, September 21, 2007
BY ALISON RYAN

With its collection of vacant lots, busy roads and broken buildings, Lents is perhaps the least “label-able” – and most label-ready – of Portland Development Commission’s 11 urban renewal areas.

But development energy in the outer Southeast Portland area has been building since the 2,472-acre Lents Town Center Urban Renewal Area was created in 1998. A handful of projects are out of the ground, including insurance company Assurety NW’s under-construction headquarters building and Southeast 92nd Avenue street improvements. Interest in the area continues to rise with the construction of the Interstate 205 light-rail project, which will send Portland- and Clackamas-bound trains through the heart of the Lents area.

But still, Guardian Management development manager Ross Cornelius says, Lents is largely untested.

“It’s been really tough to get something going there,” he said. “There’s still a lot of opportunity to bring some vitalization into that community.”

The Portland Development Commission is counting on that. The agency is working on more projects in Lents, including a relocation of an existing Lents Little League to a brand-new, $1 million ball field in Lents Park that will be completed in 2008. The field move, along with the light-rail project, creates a 3-acre void that PDC would like to fill with a transit-oriented development project.

“We’re seeing the beginnings of change,” said Amy Miller Dowell, the PDC Lents Town Center URA development manager. “And, you know, it always depends on the market, how things continue. But we certainly are seeing the beginning fruits of our investment.”

The market that Guardian Management and the owners of a big parcel of land bordered by Southeast Foster Road, Southeast Woodstock Boulevard and Southeast 92nd and 94th avenues are targeting is senior housing. The site, currently home to the New Copper Penny night club, is in the early stages of development as Parthenon Center, a mix of senior housing, senior services and retail. When the development team looked at potential for a large commercial building, Cornelius said, independent, affordable senior housing emerged as the strongest use, with organizations like Providence and Loaves and Fishes also interested in rounding out the facility.

“We’re trying to trade off the risk of developing in an area that hasn’t had a lot of development with a market that is going to be able to fill it up,” Cornelius said.

Building a large-scale project that has potential to thrive from the beginning could be a boost for Lents at large, said architect Stuart Emmons, whose Emmons Architects did conceptual designs for the Parthenon project.

“When people see this up and actually working, and it’s got a viable, vibrant retail function, things will happen from there,” he said.

Design for the two-building project focuses on connections: the visual and physical ties between the adjacent light-rail stop, the street-level retail scene, the drivers who’ll fly by the building on the I-205 freeway, and the bike-path access that’s right outside a senior community deck.

“It’s designed for high speed and also designed for neighborhoods,” Emmons said.

Project developers, too, see the Parthenon as a catalyst. But, Cornelius said, the project is complicated, and big pieces like architectural development and financing, including efforts at New Market Tax Credits, are still to come.

“In an area that is challenged like Lents, it takes a lot of creativity to put together financing to make it work,” he said.

http://www.djcoregon.com/articleDeta...ted-developmen
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  #571  
Old Posted Sep 24, 2007, 2:02 AM
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Is Bside6 in trouble? I am in town and noticed no progress, was supposed to be a Spring groundbreaking, no? Nothing at 28th and Burnside, either, outside of demolition.

Man, Bside6 was my favorite infill project. Oh well.
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  #572  
Old Posted Sep 24, 2007, 3:51 AM
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i heard through the rumor mill about a month ago that the guys who are developing bside6 are definitely going ahead with it (and some other projects as well). the person i heard this from seemed to have no doubt it would start soon. my impression was that it would start this month.
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  #573  
Old Posted Sep 24, 2007, 9:22 AM
zilfondel zilfondel is offline
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The 28th and Burnside site just got netting around the fence a day or two ago. Should be expecting some action soon I guess...
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  #574  
Old Posted Sep 24, 2007, 3:49 PM
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That would really suck if that building on 28th and Burnside did not pan out and there is big hole breaking up the commerical strip for years and years. I would hope that Rappaport or any developer would not tear down a viable building untill everything is in place for the new building.
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  #575  
Old Posted Sep 26, 2007, 1:10 PM
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I must've just gotten lucky then because the rent in my current apartment has stayed the same over the last two years also. I did notice that there are fewer vacancies, but I'm betting that at least 25% of my building is corporate rentals right now.
I took over managing a building on Belmont below 39th in late 2003, and the rent for studios was $450. Today, rent for that same studio is $650. The building has been purchased by a different company as of this weekend, and they are raising the rent to $750. So I guess that's about a $75/year increase on 450 square feet.

Also, vacancies are at 0% in all 8 of the buildings I manage, from 40th and Powell to SW 1st and Curry. There just doesn't seem to be any available apartments in this town anymore. Of course, that will change once these shiny new apartment buildings like the Wyatt, Encore, and 2121 Belmont are completed.
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  #576  
Old Posted Sep 26, 2007, 6:42 PM
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I took over managing a building on Belmont below 39th in late 2003, and the rent for studios was $450. Today, rent for that same studio is $650. The building has been purchased by a different company as of this weekend, and they are raising the rent to $750. So I guess that's about a $75/year increase on 450 square feet.

Also, vacancies are at 0% in all 8 of the buildings I manage, from 40th and Powell to SW 1st and Curry. There just doesn't seem to be any available apartments in this town anymore. Of course, that will change once these shiny new apartment buildings like the Wyatt, Encore, and 2121 Belmont are completed.
I can definitely see that for recently yuppified areas such as Belmont. My personal experience in solidly yuppified ( )neighborhoods (NW 23rd & Pearl) is that rent hasn't changed much since I moved here in 2000.
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  #577  
Old Posted Sep 27, 2007, 2:48 PM
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^That's great, and you should send a list of the places you've lived in so the rest of us can move into the thriving districts without being robbed by landlords jacking the rents up. Actually, I do find it hard to believe you don't see the price increases especially in those neighborhoods. Craiglist itself is a great example of the tight market. It used to be hundreds of listings a day, I've seen that drop by more than half, and the prices for the best districts are getting really expensive for renters...not that there aren't deals out there, but not like it used to be just three or four years ago.
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  #578  
Old Posted Sep 27, 2007, 2:49 PM
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Score one for the neighbors
Tired of infill that doesn't fit, residents are fighting back -- and winning
Thursday, September 27, 2007
By Erin Hoover Barnett
The Oregonian

The developer and the neighbors sat speechless, trying to grasp what the City Council had just done. The developer couldn't believe his project had been rejected. The neighbors couldn't believe they'd won.

With a Sept. 13 vote on a plan to build 19 rowhouses amid homes in the Foster-Powell neighborhood, the City Council confirmed that it's a new day for infill.

It's no longer enough to meet the regs. City leaders want neighbors and developers to collaborate, even if it hurts developers' bottom line. This developer -- Jeremy Osterholm -- met with neighbors. But he failed the earnestness test.

"The signal from the council is: Are both sides trying hard?" said Commissioner Randy Leonard, who oversees the bureau that shepherds development. "We give the benefit of the doubt to the side that tries."

It's a sign of maturation -- or complication -- in the history of Portland infill. Residents, once told to suck it up when it came to increased density, have City Hall's full attention. Developers, once largely viewed as the good guys fulfilling density goals, face a new layer of strategy -- and potential cost.

"It used to be much more hard-line of 'We've got the urban growth boundary, we need to be able to provide for new housing needs, and people need to accept it,' " said Rebecca Esau, whose Bureau of Development Services staff implements the zoning code.

"Now," she said, "it's a little bit of stepping back and going, 'Well, maybe we can do better -- for the developers and for the neighbors.' "

But how do developers step from the mapped world of city code to the treacherous terrain of neighborhood demands?

Developers of the Mississippi Lofts in North invited residents to help redraw plans after the Historic Landmarks Commission rejected their original minimalist design.

And developer Opus Northwest used the city's new "design advice request" to get neighborhood feedback on its six-story apartment building overlooking Couch Park -- before drawing final plans. Now Opus faces the city review process with Northwest neighborhood leaders on its side. (See sidebar, Page XX.)

But as Osterholm learned, it's a delicate and high-stakes process. His experience illustrates neighbors' newfound power and developers' peril.

Jan Mooyman stands in the driveway of his old farmhouse off Southeast Powell Boulevard at 74th Avenue, envisioning his past and his future.

He points to where his kids played on a 73,000-square-foot former nursery that runs like a wide river between backyards. He points to the garden where the family has a hot tub. Then he points to where a new road would shave his driveway as it sweeps into the veritable village Osterholm proposed for the old nursery.

Though the neighbors recognize that homes will -- and should -- be built there, the project exemplified what many think is wrong with Portland-style infill.

When the city rezoned neighborhoods in the 1990s to ramp up density, many say it did little to account for how condo towers and rowhouses would fit in. That's how the nursery was zoned for as many as 25 attached units, more than double the density of the blocks around it.

That hodgepodge effect -- and the cheap design that sometimes accompanies it -- angers neighbors, particularly on the outer east side where streets and storm-water drainage weren't built to shoulder the load.

"They just placed all this junk here," said Lisa Mooyman, Jan's wife, who grew up in the area.

Osterholm, however, was not proposing junk. He also grew up in outer Southeast and joined the development business -- Ostercraft -- that his father, Gary, started in 1974.

He got a representative to consult with neighbors late last fall. Neighbors say they raised concerns but that their message wasn't cohesive and they tried too hard to be polite. The report Osterholm heard: no major opposition. So he proceeded.

That's when the path grew twisted.

Margie Dilworth remembers her surprise when she received a city letter about the project last spring. She, like many others, had not been at the fall meeting. Now she wondered: How could so many homes be jammed behind their backyards? Neighbors circulated a petition and showed up en masse at a design-review hearing.

Osterholm remembers his surprise. Why hadn't all this opposition surfaced sooner?

Next, a hearings officer, who got an earful from neighbors, denied permission for the project in late June because its dead-end street lacked a turnaround for garbage and emergency vehicles.

Osterholm appealed to the City Council. At a hearing Aug. 16, the council was supposed to focus on the turnaround. Instead, commissioners quickly absorbed neighbors' fury.

Some neighbors argued tactfully. Joe Shapiro noted that adding a turnaround pushed several rowhouses closer to neighbors' backyards. Losing a few units would relieve that pressure.

Others used humor. Constance Crain, a former heavy-equipment operator, testified that she would communicate her opposition through interpretive dance. She didn't. But she got everyone's attention.

"Something that's bad for the neighborhood is not good for the city," she said.

Consultant Ken Sandblast, on Osterholm's behalf, argued the code. The developer didn't believe he needed a turnaround because the street would one day go through. But he nonetheless provided three solutions, all of which city staff had signed off on.

Density, argued Sandblast, was not at issue. The code allows 25 units. Osterholm was proposing only 19.

Leonard didn't buy it.

He told Sandblast he was prepared to vote right then on the turnaround issue -- hinting that it wouldn't go in the developer's favor. But he gave the developer a choice: We can vote now or wait while you meet with neighbors again and work out a solution.

Sandblast chose the latter. But despite Leonard's directive that they discuss not only the turnaround but concerns about density, Sandblast thought city code was on Osterholm's side. At the meeting with neighbors, Osterholm wouldn't budge on the number of units.

Standing outside the Mooymans' farmhouse a week later, neighbors wondered aloud what would happen.

Dave Dilworth, Margie's husband, furrowed his brow: "I wish they would recognize the magnitude of people opposed to this."

Margie Dilworth watched Osterholm and Sandblast enter the City Council chambers Sept. 13. She nodded. They didn't.

Sandblast reviewed for the council how they had met the requirement for the turnaround, but he held firm on 19 units. "We all acknowledge it all boils down to the mighty buck," he said.

Then it was Dilworth's turn. "Not even one shingle" came out of their plan, she told the council. "No compromise has been made, although the neighborhood is willing to compromise."

The vote among commissioners present was quick. Sam Adams, Leonard and Erik Sten upheld the hearings officer's denial.

Sten later said the developer lacked a compelling strategy for why the project should proceed despite neighbors' and the hearings officer's objections. And the developer wanted to separate the turnaround issue from density concerns -- even though the turnaround deepened those concerns by pushing units closer to homes.

Neighbors needed a minute to understand the council's decision. Slowly they stood and mingled, expressing relief.

Then Dilworth and her husband approached Sandblast and Osterholm. She explained that neighbors did want houses on the land. They just hoped the developer might come back with a better proposal.

"Unfortunately, we tried to do the right thing the first time," he said tersely.

Outside the chambers, Osterholm fumed. "It's pretty frustrating to run your business based on city code, and then when you meet that city code, you can't run your business."

The following Monday, Sept. 17, he and Sandblast met in Sandblast's Tigard office. Osterholm said he had never encountered such vociferous neighborhood opposition. Sandblast noted the wild card:

"Neighborhood associations are elementary democracies in action," he said. "There's a moving target to some degree. Different people show up at every meeting, and they vote at every meeting no matter who shows up."

But he reserved his most pointed remarks for the City Council.

"You have rules. If you don't like the rules, change the rules," he said. "You don't operate outside of them."

Osterholm looked worried: "Now I'm faced with, how do I try to make the best situation I can and not be that bad guy?"

An e-mail from Sandblast on Sept. 20 spread home to home on either side of the old Foster-Powell nursery.

"What think we?" Margie Dilworth e-mailed neighbors. "I'd say it looks like an answer to prayer."

Osterholm had revised his plans. Instead of 19 rowhouses, his project featured 12 single-family houses.

In an interview, he said the larger, detached homes would sell for more and make up for the smaller number of units. Pride rang in his voice.

"I have to look at the path of least resistance, and by no means do I want to sit in front of a board of politicians again," he said. "It could be a positive all the way around. . . . When the houses are going up in the neighborhood, maybe it will just be a perfect fit."

Jan and Lisa Mooyman learned the news when they returned to their farmhouse that night.

"It seems like democracy really works," Jan said. "If you stand up together, then you can achieve something. That is a good feeling that people can do something about it. We showed it."

Erin Hoover Barnett: 503-294-5011; ehbarnett@news.oregonian.com

http://www.oregonlive.com/portland/o...540.xml&coll=7
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  #579  
Old Posted Sep 27, 2007, 2:50 PM
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Proposed apartments rankle 103rd residents
Thursday, September 27, 2007
By Fred Leeson
The Oregonian

The housing boom that followed World War II set down a tidy row of houses on Northeast 103rd Avenue, sitting comfortably on suburban-size lots outside city limits.

Now a wave of development is taking the houses to a place their first owners never dreamed of: high-density urban living. A developer wants to build two apartment houses of five and six stories on 102nd.

"It's going to destroy our neighborhood," says Andrea Heckman, a resident in the 200-400 block of 103rd. "Nobody's happy. It's very stressful for us."

Joe Rinella, who has lived on the block for 29 years, says the buildings will block sunlight and infringe on yard privacy. Now, his yard gets sunlight as late as 9:30 p.m. in summer. He expects the new buildings to cast shade by 3 p.m. "The proposed structures limit what we can do on our properties."

The proposed project follows the city's plan for the Gateway District, now part of Portland. The City Council adopted a plan in 2004 to shift the area from low density and car-oriented to high density and pedestrian-oriented. Residents, Rinella says, were outgunned at hearings by planners and businesses.

Portland developer Andrew Kelly proposes building about 90 units in two buildings with one level of underground parking. Tentative plans show a courtyard with a water fountain separating the buildings, which would face busy 102nd.

Kelly originally proposed reserving the ground floor for commercial uses, but a revised plan shows housing instead. Architect Craig Monaghan says there's not a market yet for the retail in the first plan.

Rinella says Kelly has been cordial in meeting with neighbors and altered the design so the buildings' rear side steps down, presenting a less imposing view. But Rinella says Kelly "feels handcuffed to make the plans pencil out" and can't shrink the project any further.

Brent Mason, who lives on 104th, thinks six stories is too tall. "I don't want to have a barbecue with someone on the sixth floor looking down with binoculars."

The new units also could attract as many as 50 children, Rinella says, with a park no closer than three-quarters of a mile. "Where are they going to hang out?" he asks. "It doesn't make sense to pack people in and expect children to thrive."

The Portland Design Commission, which reviewed the plans this month, wants Kelly and Monaghan to incorporate amenities neighbors might appreciate, such as playground space.

"Because you are the first (developer), there's a pretty good obligation to come back with something for the neighbors," Andrew Jansky said.

Monaghan is expected to return with revisions in several weeks. Although neighbors will probably argue for reduced mass, Rinella isn't optimistic.

"I've somewhat given up on the idea that we are going to be able to make changes here," he says. "I've come to the conclusion they are going to do this to us."

Portland News: 503-221-8199; portland@news.oregonian.com

http://www.oregonlive.com/portland/o...670.xml&coll=7
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Old Posted Sep 29, 2007, 9:54 AM
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Originally Posted by MarkDaMan View Post
^That's great, and you should send a list of the places you've lived in so the rest of us can move into the thriving districts without being robbed by landlords jacking the rents up. Actually, I do find it hard to believe you don't see the price increases especially in those neighborhoods. Craiglist itself is a great example of the tight market. It used to be hundreds of listings a day, I've seen that drop by more than half, and the prices for the best districts are getting really expensive for renters...not that there aren't deals out there, but not like it used to be just three or four years ago.
Right, but people aren't moving out of those places that aren't rapidly appreciating - it seems like there is a sizable group of property management companies who are repainting their units and doubling the rent in a year or two, while the REST of the landlords are 'keeping it real.'
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