Portland post office plans require rethink
Colorado-based Continuum Partners has put an end to its agreement with the city of Portland to redevelop one of the choicest redevelopments prospects in the city, OregonLive.com reports.
Under a 2018 deal, Continuum Partners was to plan the Broadway Corridor, in which the central post office site would be the anchor. In return, the company would receive the opportunity to serve as the project’s primary developer and have first pick of sites for construction within the plan’s framework. Printing services can make full-size copies of blueprints for works like this, regardless of their complexity.
However, Continuum decided to not go forward with the agreement as a news release from Prosper Portland, the city’s agency of economic development, revealed. In the release, the CEO of Continuum Partners’, Mark Falcone, explained it was decided that the company’s focus needed to be on other projects. He referenced:
“…the reality of a challenging real estate market environment and the complexities of the project.”
According to Kimberly Branam, Executive Director of Prosper Portland, the Broadway Corridor schedule would most likely not change, despite the development company’s pulling out. The 32-acre site is destined to be a new neighborhood located between the Pearl District and the New Chinatown-Japantown Historic District.
Plans for the old post office site include at minimum of 720 affordable housing units, parks, a cycle track, small business opportunities, and public art. The project is anticipated to create somewhere in the region of 4,000 to 8,800 jobs.
Under a 2018 deal, Continuum Partners was to plan the Broadway Corridor, in which the central post office site would be the anchor. In return, the company would receive the opportunity to serve as the project’s primary developer and have first pick of sites for construction within the plan’s framework. Printing services can make full-size copies of blueprints for works like this, regardless of their complexity.
However, Continuum decided to not go forward with the agreement as a news release from Prosper Portland, the city’s agency of economic development, revealed. In the release, the CEO of Continuum Partners’, Mark Falcone, explained it was decided that the company’s focus needed to be on other projects. He referenced:
“…the reality of a challenging real estate market environment and the complexities of the project.”
According to Kimberly Branam, Executive Director of Prosper Portland, the Broadway Corridor schedule would most likely not change, despite the development company’s pulling out. The 32-acre site is destined to be a new neighborhood located between the Pearl District and the New Chinatown-Japantown Historic District.
Plans for the old post office site include at minimum of 720 affordable housing units, parks, a cycle track, small business opportunities, and public art. The project is anticipated to create somewhere in the region of 4,000 to 8,800 jobs.