Cosakita18
Senior Member
- Joined
- Jun 14, 2016
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Hi all,
I'm intending this to be a temporary thread to discuss how Covid-19 and it's economic fallout will impact Portland's development prospects in coming years.
I admit I'm pretty concerned, A sharp recession is pretty much a foregone conclusion at this point, and Portland's tourism / retail / food industry has already been hit hard. At this point it seems very unlikely that tourism will return to pre-Covid levels any time this year. Businesses big and small are also going to take time to recover from this blow, and definitely won't be in "expansion mode" for at least a year.
Personally, I wouldn't be surprised if all of the major projects currently in the works (Canal Plaza Tower, 385 Congress, Portland Foreside, Portland Square) are ditched or at least downsized.
Granted, circumstances change by the day, and what we are going through now is nothing like 2008. But as of 3/19 the short and medium term economic outlook for Portland and the country as a whole does not look promising.
I'm intending this to be a temporary thread to discuss how Covid-19 and it's economic fallout will impact Portland's development prospects in coming years.
I admit I'm pretty concerned, A sharp recession is pretty much a foregone conclusion at this point, and Portland's tourism / retail / food industry has already been hit hard. At this point it seems very unlikely that tourism will return to pre-Covid levels any time this year. Businesses big and small are also going to take time to recover from this blow, and definitely won't be in "expansion mode" for at least a year.
Personally, I wouldn't be surprised if all of the major projects currently in the works (Canal Plaza Tower, 385 Congress, Portland Foreside, Portland Square) are ditched or at least downsized.
Granted, circumstances change by the day, and what we are going through now is nothing like 2008. But as of 3/19 the short and medium term economic outlook for Portland and the country as a whole does not look promising.