Doing the math that's $239,234 per unit. There's condos selling in my neighborhood for $169,00, that have been on the market for years. Their at approx. 100th and SE Division. I'm sure they'd love to sell them and probably for less, than the asking price. We have lots of distressed Real Estate in Portland, why are we building more? A mortgage payment on $239,234 with taxes is about $1500 a month. Bancroft only has $600 to spend on housing, there must be a less expensive alternative that can both help Bancroft and the taxpayers at the same time? I feel like we've dumped so much money into South Water Front and in the end they had to have a fire sell to get rid of the unsold units. A bigger problem for me and Portland are all the Campgrounds along the East Bank Esplanade, that's a problem that needs an immediate solution, Bancroft currently has somewhere to live. If I was a tourist visiting Portland, after seeing all the Campgrounds I would think twice about a return visit.
Jeff
Jeff