City Council is calling a proposed multi-million dollar deal to buy the United States Postal Service’s (USPS) 14-acre downtown headquarters a “once in a generation” deal, but this is actually the second attempt.
At a Thursday hearing, the city approved a tentative concept for prime real estate in the Pearl District that could include up to 2,400 apartments and commercial space providing up to 4,000 jobs.
“This site has been talked about for as long as I’ve been on the council,” Commissioner Amanda Fritz said before casting her vote in favor of the plan. “So it’s quite amazing to be here today without 60,000 people turning out for it to pass this resolution.”
She’s right.
The Portland Development Commission (PDC) in 2008 tried and failed to oust USPS from the site. Commissioner Dan Saltzman at the hearing said it’s been on the city’s radar since the days when Vera Katz was mayor. Commissioner Nick Fish called a “very important piece of dirt” and all five commissioners voted to move the plan forward.
PDC’s Mark Edlen testified yesterday that the dirt they’re scoping out is worth between $135 million and $177 million. The city plans to issue $135 million in bonds to pay for the project, which Edlen explained makes this a low-risk deal.
The city plans to put about $90 million in urban renewal cash toward the project. The rest of it will be paid for by selling pieces of the property to private developers. Fritz made mention during the hearing of only selling bits of the 14-acre site to developers who agree to include affordable housing in their projects.
But don’t expect a landslide of affordable housing units to hit the market soon. If USPS agrees, the city plans to start building in 2019 with project completion somewhere around 2025.
That is, of course, unless USPS won’t budge. Again. I emailed USPS for comment on whether or not they’re in
“the city plans to start building in 2019 with project completion somewhere around 2015.”
Highly efficient government planning makes it possible to achieve completion four years before actually starting to build.
Shelby, accepted practice is to acknowledge your error if it is pointed out before you fix it.
It’s also accepted practice to laugh at/ignore people pathetically mewling for a Public Recognition of Pedantry Medal.
Would that acknowledgment really make you feel better, Jimmy?
Okay, maybe that isn’t the accepted practice. Perhaps I made a mistake. See how easy it is to admit that?
I just was used to seeing the strikeout/correction in previous stories. That’s all. No acknowledgement to me personally. It really isn’t that big of a deal.
Just leave the fucking post office alone.