Part 7/11:
This long-term strategic approach emphasizes patience and substantial capital investment. Still, critics point out that without addressing the city’s social issues—street safety, homelessness, and public order—the attractiveness of downtown will remain compromised. Until conditions improve, even the most ambitious redevelopment plans may struggle to succeed.
The Broader Impact on Portland’s Economy
This sale sets a benchmark for other commercial properties in Portland and beyond. The discounted valuation will influence how smaller buildings and office spaces are valued, triggering a cascade of declining assessments and revenues. Landlords will be justified in lowering rents and property valuations, further depressing the overall commercial real estate market.