Ultimately we need to deploy an EC dev strategy that drives labor demand & limits displacement, but it’s hard to see a path forward for Gateway without an anchor employer. It’s not sexy and it’s not fast to deliver improvements, but land banking probably is the best strategy for this area.

Pretty much all of East Portland isn’t eligible for the IH tax exemption on non-IH units, so that’s less of a problem IMO. Even then, market development demand in Gateway is non-existent.

Yes, outreach has started and we’re going back in for another round now that October is fast-approaching for 4 story adoption

Really appreciate your leadership on this today. One of the most cogent points from the session.

The unit mix here is really good though, it’s approx $425,000 per bedroom which IMO is a better way to normalize affordable vs. market development costs

Thumbs are out in full force