Portland Bayside

I appreciate they provided updates on the lawsuits in good detail, even if it still is hopeless.

Good to see that Bayside could break ground by the end of the year, though.
 
10 Years Later .... Monroe must be so pleased. Misguided gasbag.

"Today, concrete construction barriers outline the rectangular blocks of dirt, gravel and weeds between Trader Joe’s and Whole Foods that, had plans for The Midtown project moved forward, would likely be a thriving mixed-use neighborhood"'

So maddening.
 
What a horrible, embarrassing mess. It's frustrating to see that neither side is willing to budge although Federated clearly dug themselves into this.

Bayside is in such a sorry state. A giant hole of vacant lots right in the middle of the peninsula....I wish the city would just seize all of the Midtown parcels by eminent domain and put out RFP's for development....but I know it can never be that straightforward.
 
The city needs to now bite the bullet on this and give the developer what he wants. Assigning blame is fruitless at this point. Otherwise, he holds on to the land and continues to watch it appreciate and we get to look at empty lots for another ten years.
 
From my understanding (admittedly, largely from this forum), Federated is, at this point, a shell company that just exists for the sake of these lawsuits.
 
The only way this will be settled is for the city to pay him what he thinks it took from him. Otherwise, he's got time--ten more years of time. It's a long-term investment for him. The city has been arrogant within this entire process. He's here to make money, not give them what THEY want at his expense. The city was and still is to a point, naive. I'd say three more years of no real movement and someone in city Gov will scream "Enough."
 
DanielPWM19 said:
Litigation should be:
We'll drop our case, you drop your case, land must be sold.
Peace.
Click to expand...
Determine the actual cost of litigation, sell the remaining parcels for $13M and put that amount towards the legal fees for Federated, have the city pay the difference in legal fees (and maybe fair market value Lot 6), the city resells at cost to developers. Everyone looses, but then the lots are available to develop.
 
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This article reads as a PR piece for the City. Everyone knows the property the City took isn't worth "nothing" which as I understand it is what the City paid when it stole the property back, and it seems more than a little off that the city hasn't done ANYTHING to develop this site or sell it to a developer to develop since it reclaimed the property YEARS ago. If the City were to say that it wasn't doing so because of the litigation, the same rationale could be turned around back at it from Fed Co's perspective. The bottom line is that everyone knows it's hard to do business in Portland, because of Portland, and even former city councilors will admit candidly that the staff operates in a way that keeps the council (and public) in the dark with regard to their actions. Look at things this way ... it's not in any developer's best interests to hold vacant property or to litigate for years with no trial. The fact that that's what is going on seems very telling to me in terms of where the roadblock is. Also, did anyone else find it odd that the image of homeless camps is over a year old? Another reason it seems this article was a PR piece promoted by the City - whose law firm seems to be behind it in at least some way.
 
Advertorial in the Telegram touting Bayside. (Note: Nova Tower is one of the brokers touting the Daymark development.)

[Nova] Tower talked about the changing lifestyle in Bayside. “When I first moved to Portland 16 years ago, I didn’t find myself in Bayside often, maybe once or twice a year, to go to the Portland Architectural Salvage,” she recalled. “Then there was Bayside Bowl and suddenly we were down here a lot. After that, it was one thing after the next: restaurant patios, events at our friend’s art studio, our favorite stores, my bank. Bayside is now a regular date night destination for us.”
Click to expand...
 
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