X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Two different master plan proposals for the Lloyd District Urban Renewal area will be available for review and comment Tuesday at the Holladay’s Market on Northeast Broadway between 12th and 13th avenues.

The urban renewal area runs from the Willamette River to Northeast 15th Avenue, Northeast Broadway to Interstate 84. Both plans call for a headquarters hotel to be built one block north of the Oregon Convention Center. Both also call for a bike trail paralleling the Banfield Freeway.

Plan One sees medium density residential moving from the western edge to the Lloyd Center. Plan Two would have it only east of Grand Avenue. In addition, Plan One calls for more commercial development of the riverfront area between the Steel and Broadway bridges, while Plan Two sees the area as strictly residential.

The toughest area to develop will be around the convention center, according to city officials. The area’s ownership is fragmented, complicating large development.

As for the headquarters hotel, developers may not be interested in the financial risk given the area’s recent hotel-building boom. The city’s room inventory has jumped 30 percent since 1996, while occupancy and revenue per available room have declined.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.