Discussion about this post

User's avatar
Richard Perkins's avatar

I agree about the importance of the historical context of these buildings and the desire to retain them. Ask we to choose between retaining them as is on the historical registry, yes or no, I pick yes every time. They could never be replaced as is, nor would anyone consider it. We don’t have the need or the craftsmen or access to materials. Unfortunately it is not yes or no. There are tradeoffs which pit many goods against each other.

We have “modern” buildings like PacWest and BigPink selling at a fraction of replacement cost. The majority of hotels in the Central City are in or near receiverships and if there is not a dramatic increase in overnight visitation to Downtown and a concurrent recovery of nightly rates, they too will trade well below replacement costs.

Existing businesses are struggling. A few risk takers are entering but at rents and terms that are not sustainable for building owners. The Mayor has created some public safety and livability bright spots but the Cultural District and related assets are being handed off from Metro to the City like a hot potato, losing money. visitation downtown at night is still resisted. The City and County can’t agree on a plan to address homelessness, behavioral health and Public Safety cooperatively. Often they work at cross purposes.

We can’t build affordable housing. The County has squandered scarce funds providing it by spending well over $1,000 at foot to convert SRO historic buildings (Fairfield and Joyce) to earthquake compliant SFOs. No increase in units. They spent over $1,200/sf in pre pandemic costs to convert an unremarkable historic building to the now unrecognizable Behavioral Health Resource Center.

In a very real sense, we are choosing between affordable housing and uses that can activate Downtown in strategic areas that will help it recover and stop the Doom Loop we are in and preserving these buildings for posterity. It should not be an easy decision in that context.

By recent historical numbers, the square block on Broadway under the Solomon building would be valued at $22Milion. It just sold with a building on it for $1.8 Million. That block could effectively provide a whole lot of housing and other uses that could help save the Cultural District and increase much needed tax revenue to the City.

We have to learn to zoom out, look at things in a larger context and compromise if we are going to help Portland recover.

Olivia Clark's avatar

Yes, they deserve a brighter future and are important to downtown revitalization.

No posts

Ready for more?