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  #21  
Old Posted May 17, 2017, 3:47 PM
innovativethinking innovativethinking is offline
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Originally Posted by AcmeGreg View Post
Can someone explain to me why the North Pearl and South Waterfront seem to be stealing each other's zeitgeist? Cosmopolitan, NV, Vista and now this project all seem better suited for SW, at least as originally envisioned. Remember? Why, it was going to become a veritable forest of towers! A mini-Vancouver of sorts. Post-recession it's nothing but a sea of 8-storey apartment warehouses down there while the Pearl continues to go tall(er). What's up (or not) with that?
I don't get either although my theory is SW isn't as desirable as planners envisioned since it's so closed off by the freeway.
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  #22  
Old Posted May 18, 2017, 9:54 PM
mmeade mmeade is offline
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Originally Posted by AcmeGreg View Post
Can someone explain to me why the North Pearl and South Waterfront seem to be stealing each other's zeitgeist? Cosmopolitan, NV, Vista and now this project all seem better suited for SW, at least as originally envisioned. Remember? Why, it was going to become a veritable forest of towers! A mini-Vancouver of sorts. Post-recession it's nothing but a sea of 8-storey apartment warehouses down there while the Pearl continues to go tall(er). What's up (or not) with that?
Honestly, I think that it has a lot to do with who owns the land. Hoyt owned many blocks in the North Pearl and built on those lots when the time was right. They built buildings, but those buildings varied in scale due to current market conditions.
http://hoytliving.com/sales/hoyt-bui...-developments/
They saved some of the best blocks for the best buildings. Only recently did they build the Cosmo, Block 17, and Vista. Hoyt has held those blocks for ages.

A lot of the blocks down in South Waterfront were purchased by developers that didn't necessarily have the ability/will to wait until the perfect time to build on those lots. The best way to get their money out of those blocks is to build a 5 over 1 and start pulling income.

It all comes down to who is willing to play the long game vs. the short game. Developing is all about taking managed risks.
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  #23  
Old Posted May 19, 2017, 4:25 AM
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MarkDaMan MarkDaMan is offline
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Quote:
Originally Posted by AcmeGreg View Post
Can someone explain to me why the North Pearl and South Waterfront seem to be stealing each other's zeitgeist? Cosmopolitan, NV, Vista and now this project all seem better suited for SW, at least as originally envisioned. Remember? Why, it was going to become a veritable forest of towers! A mini-Vancouver of sorts. Post-recession it's nothing but a sea of 8-storey apartment warehouses down there while the Pearl continues to go tall(er). What's up (or not) with that?
The ORIGINAL plan for the South Waterfront came about when Prometheus in the late 90s/early00s (whom has held their land for 20ish years now) wanted to build a lower-rise than Riverplace (pre-Strand) gated apartment community. Along with OHSU exploring options to move their campus to Hillsboro, the CoP planners were seeing the explosive early growth in the Pearl and were determined to recreate the success in the "North Macadam" district and keep Portland's largest employer in the city.

The plan was for a vast OHSU medical campus based around lower rise buildings 4 to 15 floors from the Marquam to the Old Spaghetti. To connect to the upper campus there were two main options, from what I remember. A tunnel with moving walkways to elevators and a tram.

During the frothy condo craze...that crashed the housing market years later...the main developers, Gerding and Homer to name a few, decided to cash in, go bigger and bolder than originally planned and taller than anything built in the Pearl at that point. They lobbied the city to upzone the district which was highly contested by Lair Hill but eventually passed with some conditions which helped fund the Willamette path.

The market crashed, some developers turned over their point towers to the banks and condos were auctioned on the cheap. Others were turned into apartments.

The pre-crash South Waterfront dreams excited me too, however the district is turning out so much better than originally conceived, IMHO.
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  #24  
Old Posted May 19, 2017, 4:35 PM
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Great summary Mark!
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  #25  
Old Posted May 20, 2017, 7:32 AM
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urbanlife urbanlife is offline
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Quote:
Originally Posted by MarkDaMan View Post
The ORIGINAL plan for the South Waterfront came about when Prometheus in the late 90s/early00s (whom has held their land for 20ish years now) wanted to build a lower-rise than Riverplace (pre-Strand) gated apartment community. Along with OHSU exploring options to move their campus to Hillsboro, the CoP planners were seeing the explosive early growth in the Pearl and were determined to recreate the success in the "North Macadam" district and keep Portland's largest employer in the city.

The plan was for a vast OHSU medical campus based around lower rise buildings 4 to 15 floors from the Marquam to the Old Spaghetti. To connect to the upper campus there were two main options, from what I remember. A tunnel with moving walkways to elevators and a tram.

During the frothy condo craze...that crashed the housing market years later...the main developers, Gerding and Homer to name a few, decided to cash in, go bigger and bolder than originally planned and taller than anything built in the Pearl at that point. They lobbied the city to upzone the district which was highly contested by Lair Hill but eventually passed with some conditions which helped fund the Willamette path.

The market crashed, some developers turned over their point towers to the banks and condos were auctioned on the cheap. Others were turned into apartments.

The pre-crash South Waterfront dreams excited me too, however the district is turning out so much better than originally conceived, IMHO.
I have to agree, as this area builds out, it is actually starting to feel like a real urban neighborhood. I personally am okay with the stubby buildings as long as they make the first floor full of retail spaces to help add to the street activity. I think in the coming years as we see the shipbuilding site developed and the OHSU Waterfront campus grow, this area is really going to feel like its own little city, much like how Lloyd District does.
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