Geography Presentation October 5, 2009 Quadrant: North of Market Presenters: Portland Business Alliance, Metropolitan Exposition Recreation Commission, Old Town/Chinatown Neighborhood Association
Contents • Quadrant Overview – Bob Alexander – Peter Englander • Stakeholder Presentations – Portland Business Alliance • Sandra McDonough, President and CEO – Metropolitan Exposition Recreation Commission • Cheryl Twete, Interim General Manager – Old Town/Chinatown Neighborhood Association • Patrick Gortmaker, Land Use Committee Chair
North of Market Overview • 321 acres • Total Assessed Value: $1.92 billion • Adjusted Frozen Base: $992.77 million
North of Market Overview Tax Increment Node D Tax Increment Node E • 40 acres • 34.1 acres • Revenue Generation • Revenue Generation Potential Potential – Base: $6.6 M – Base: $10.1 M – Low: $14.6 M – Low: $23 M – Medium: $18.2 M – Medium: $26 M – High: $26.8 M – High: $32.8 M
North of Market Overview POPULATION DATA S. Of Market N. Of Market Goose Hollow Northwest Total Residents 4,500 5,400 3,800 3,100 Under 18 4% 3% 3% 7% 18-24 24% 7% 6% 7% 25-64 59% 72% 75% 74% 65 and Older 13% 19% 16% 12% Statistics for the individual quadrant areas are not statistically precise due to a lack of test data East of I-405 Central City Study Area City Total Residents 16,600 24,000 14,600 535,000 Under 18 3% 4% 4% 21% 18-24 11% 11% 13% 8% 25-64 73% 73% 69% 59% 65 and Older 13% 12% 14% 12% All data was collected by a grouping of Census Tracts that best fit the shape of the geography.
North of Market Overview HOUSEHOLD DATA S. Of Market N. Of Market Goose Hollow Northwest Total Households 2,900 3,400 2,800 2,200 Average Size 1.4 1.19 1.24 1.37 Renters 86% 95% 94% 96% Non-Family 81% 90% 89% 87% East of I-405 Study Area Central City Total Households 10,500 9,700 15,900 Average Size 1.28 1.27 1.3 Renters 88% 95% 89% Non-Family 86% 89% 87% Statistics for the individual quadrant areas are not statistically precise due to a lack of test data. All data was collected by a grouping of Census Tracts that best fit the shape of the geography.
North of Market Overview HOUSEHOLD INCOME DATA Annual Income S. Of Market N. Of Market Goose Hollow Northwest < $25,000 42% 68% 52% 46% $25,000 to $100,000 45% 28% 43% 46% > $100,000 13% 4% 5% 8% Annual Income East of I-405 Study Area Central City < $25,000 54% 58% 53% $25,000 to $100,000 36% 37% 38% > $100,000 10% 5% 9% Statistics for the individual quadrant areas are not statistically precise due to a lack of test data. All data was collected by a grouping of Census Tracts that best fit the shape of the geography.
North of Market Overview EMPLOYMENT DATA (Residents) S. Of Market N. Of Market Goose Hollow Northwest Labor Force 2,900 2,400 2,500 2,100 Employed 2,700 2,000 2,200 2,100 Unemployment Rate 8% 16% 11% 4% East of I-405 Study Area Central City Labor Force 10,200 8,500 15,300 Employed 8,300 7,500 13,000 Unemployment Rate 19% 11% 15% Statistics for the individual quadrant areas are not statistically precise due to a lack of test data. All data was collected by a grouping of Census Tracts that best fit the shape of the geography.
North of Market Overview OPEN SPACE S. Of Market N. Of Market Goose Hollow Northwest Acres of Open Space 27 25 12 2 % of Open Space 6.3% 7.6% 7.8% 1.7% Square Foot/Resident 264 200 139 33 East of I-405 Study Area Central City Acres of Open Space 70.7 47.8 83.1 % of Open Space 6.5% 6.0% 5.8% Square Foot/Resident 186 143 151 Statistics for the individual quadrant areas are not statistically precise due to a lack of test data. All data was collected by a grouping of Census Tracts that best fit the shape of the geography.
North of Market Overview • Existing Adopted Plan – Downtown Plan – River Renaissance Plan – Cultural District Plan – Old Town/Chinatown Visions Plan – South Park Blocks URA Plan – Downtown Waterfront URA Plan – Burnside Transportation and Urban Design Plan/ Couplet and West Burnside/Couch Alternatives Analysis
Existing Adopted Plans • All quadrants: – Central City Plan – City Economic Development Strategy – Comprehensive Plan – Portland Plan Update – Streetcar Master Plan – Tri-Met Light Rail Plan – 10-Year Plan to End Homelessness – Metro’s 2040 Growth Concept/Regional Framework Plan
Downtown Retail Core Urban Renewal Presentation: North of Market October 5, 2009 Sandra McDonough President & CEO Portland Business Alliance Greater Portland’s Chamber of Commerce
Why Urban Renewal? • Important Tool for Downtown Revitalization • Iconic Projects that Transform Downtown • Economic Development • Parks • Low Income Housing
The Future of Downtown Urban Renewal • Continue Urban Renewal in Downtown • Recognize Limitations of TIF • Maximize Leverage in All Projects • Implement Additional Financing Tools
Why is Downtown Important? • Cornerstone of a Healthy Regional Economy • Economic Generator for the City and County • Employment Hub • Multi Modal Transit Nexus • Cultural & Civic Center
Planning Efforts Depend on a Healthy Downtown • Metro 2040 Plan • City - County Climate Action Plan • City Economic Development Strategy
The Challenges to Downtown • Significant Job Loss • High Cost of Construction/Business • Competition from Suburbs • Lack of Workforce Housing
Challenges: Employment Loss Downtown Employment Growth 88,000 86,000 Employees 84,000 82,000 80,000 78,000 2001 2002 2003 2004 2005 2006 2007 2008 Source: Downtown Business Census
Challenges: Suburban Competition - Office
Challenges: Suburban Competition - Retail 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 2000 2006 2008 Downtown Shopping Centers
Challenges: Lack of Workforce Housing • 30 Percent Set Aside, Tax Credits for Low Income Housing • Market Takes Care of High End • No Development Tools for Workforce Housing, Rents Do Not Justify Construction Cost
Why is Downtown Retail Important?
Barriers to Retail Development • Obsolete Buildings Do Not Accommodate Modern Retail Needs • Fragmented Ownership Disrupts Continuity • Small Block Size Limits Large Floor Plates • Strenuous Codes Make Reconfiguration Costly
What is Needed? A Three Part Approach 1. Facilitate Adaptive Reuse of Existing Buildings for Modern Business Needs 2. Coordinate & Invest in Catalytic Development Opportunities for Workforce Housing, Office Space 3. Strengthen Retail Continuity With Small, Medium and Large Scale Retail Development
What is Needed? A Public Private Partnership Portland Business Alliance Portland Mall Management Inc Portland Development Services Inc (BID) Pioneer Courthouse Square
Mayor’s Downtown Retail Vision “To define a street or streets where initial efforts are focused to create a destination location that will draw customers downtown… to recognize that a healthy downtown acts as a cornerstone for a strong regional economy… and through improving downtown, we will support job growth, an increased tax base, and an attractive destination…”
The Role of Urban Renewal Component of Leverages: Financing for: • Density of Land Use and Property Values • Workforce Housing • Private Sector • Mixed Use Investment Development • Transportation • Signature Retail Projects Investment
Leverage of a Vibrant Retail Core: JOB CREATION • Downtown Businesses Say Retail an Important Factor in Office Location Decisions • Retail Attracts Tourism • Retail Development Creates Construction, Sales and Management Jobs
Leverage of a Vibrant Retail Core: HOUSING OPPORTUNITIES • Retail Supports Adjacent Residential Population • Downtown Vibrancy Drives Market Rate Housing Demand • Mayor’s Downtown Vision: Transformative Projects Include Workforce Housing
Leverage of a Vibrant Retail Core: LIVABILITY • Strengthens Downtown as Heart of Region • Facilitates Multi- Purpose Downtown Trips • Capitalizes on Transit, Cultural, and Civic Investments
Leverage of a Vibrant Retail Core: SUSTAINABILITY • Upgrade Existing Buildings to Modern Standards • Compact Retail District Promotes Walking and Short Trips • Access to Transit Reduces Auto Trips
Areas Where Urban Renewal is Needed: Greater Portland’s Chamber of Commerce
Questions?
Portland Center for the Performing Arts Keller Auditorium Arlene Schnitzer Concert Hall Antoinette Hatfield Hall
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Portland’s Cultural District
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