Three years ago, we wrote that the sprawling Northeast Portland lot that's home to Lloyd Cinemas—and sits adjacent to the Lloyd Center mall and Holladay Park—was set to become "the most magnificent mixed-used development in the area."

Since then? Ehhh... not much. Lloyd Cinemas is still a pretty lousy place to see movies (especially compared to Portland's other options), Lloyd Center hovers in that not-quite-thriving-but-not-yet-abandoned purgatory of most American malls, and Holladay Park remains moderately stabby.

Not for long, says KATU. "Developers are planning more than 1,300 residential units that would replace the Lloyd Cinemas, the parking lot directly west of the theater, and the parking lot across the street in front of the Sears location at the mall," KATU reports. "Retail space on the ground level is also included in the plans."

RELATED: "So Long, Lloyd Cinemas! You Won't Be Missed" [Blogtown, May 12, 2015]

"Currently an underutilized parcel near the Lloyd Center shopping mall, the project comprises a mixed-use village with 689 residential units, over 35,000 sf of retail, and structured parking for residents and visitors," proclaim the development's designers, Holst Architecture, about the project's first phase. "The currently under-used property will be transformed into one that adds value to residents’ lives, supports local jobs, and offers attractive homes for Portlanders."

Well, attractive homes for some Portlanders: Since this development began before the implementation of Portland's "Inclusionary Housing" policy—which, as Mercury News Editor Dirk VanderHart wrote last month, "requires any apartment building of 20 units or more to rent a portion of them below market rates"—it isn't required to include any affordable units.

Mayor Ted Wheeler's office, though, tells KATU that Wheeler "is exploring ways to incentivize developers who brought the city projects before the inclusionary housing ordinance passed to include affordable housing."

RELATED: "As Apartment Projects Slow, Can the City Convince Developers to Offer Cheap Units?" [Hall Monitor, Feb 21, 2018]

One way he might do so was detailed in our Hall Monitor column last week: Portland officials are planning to try to entice builders to include affordable units by offering them "10 years of property tax exemptions... if they pledge to make a percentage of their new buildings affordable for those same 10 years."

According to Holst Architecture, the first phase of the development, called "1400 NE Multnomah," is "aiming for competition in 2018."