Part 7/9:
The Broader Economic and Political Context
Portland’s downtown has become nearly a ghost town, with boarded-up storefronts, declining retail activity, and a growing homeless crisis driven by unchecked drug use and loitering. The city's leadership has often downplayed these issues or prioritized ideological stances over practical solutions, which has further damaged the city’s attractiveness to businesses.
This environment discourages new investments—both residential and commercial—and perpetuates the downward spiral. The sale of Big Pink for $45 million isn’t just about a single building; it epitomizes the city’s failure to adapt and attract business in a shrinking market.