Page 4 Portland Observer JUNE 1,1989 News Around Town____ BPA TO HOST BENEFIT FOR COMMUNITY HEALTH CENTER Walnut Park construction could portend renaissance for lower Northeast business Wyant group plans construction of town square type mini-mall at the old Fred Meyer site. Project could begin by mid summer and end in 1990 b y S te p h e n E. M c P h e rs o n , S p e c ia l C o rre s p o n d e n t Last w eek the big red and w hite Fred M e ye r sign that has stood on the ro o f top o f Fred M eyer as a quiet sentinel o ve rlo o kin g the new M a rtin L u th e r K in g A ve . came d o w n w ith ­ out even a w h im p e r. The w eek be­ fore that m ost o f the w in d o w s and doors that w o u ld be vulnerable to vandalism and burglaries were co v ­ ered over w ith p lyw o o d . C hains bar entry to the once busy p a rkin g lots that arc ncAv litte re d w ith rubbish. O ne can’ t w onder but how q u ic k ly the process o f d e terioration sets in once a piece o f property o f that size lies dorm ant. A t firs t its was thought ress unim peded, the entire develop­ m ent is expected to begin by m id sum m er and its com pletion could very w e ll coincide w ith the opening o f the nearby convention center. I l is very exciting to observe that the entire endeavor w o u ld be undertaken w ith p riva te funds. C u rio u s ly , the o ffe r to purchase the site fo r this specific purpose was one o f the firs t to be made when it be­ came kn o w n that the W a ln u t Park property w o u ld placed on the m arket fo r sale. It d id not re c e iv e a v e ry high p rio rity at the tim e possibly because the assistance prom ised by the P o rt­ land D evelopm ent C om m ission was less speculative and offe re d w hat the but that expectation d id not blossom into fruition apparently because Kom o its e lf is faced w ith a cash flo w im ­ negotiators thought was a better chance fo r success.Chadwick and A ssoci­ ates was in v o lv e d in the acq u isitio n o f the property and the p ro m u lg a tio n o f the new concept. T h e ir team was spearheaded by Michael Debman and pedim ent. The business co m m u n ity should not yet despair because a ll is not lost. The W ya n t G ro u p o f Salem, know n fo r developing im p o rta n t pieces o f his brother, Chad. They are tw o w e ll-k n o w n business men fro m the A fric a n A m erican co m m u n ity. One o f the e xcitin g things about th e ir in ­ volvem ent is that it gives the m in o r­ commercial property all over the state has shown an interest in that site w h ich co u ld serve as the im petus fo r ity contractor another chance to par­ ticipate in the lu cra tive local co n ­ that K o m o Foods w o u ld f i l l the void le ft by the departure o f Fred M eyer, the comm ercial renaissance the lower N ortheast has needed fo ra lo n g tim e. The d riv in g force that propelled the K o m o disappointm ent in to ju b i­ lation is a package o f innovative ideas p ro ffe re d by D on W ya n t, Jr. This new approach has a decided advan­ tage o ver the sim ple replacem ent o f one fa ilin g store w ith another. It is an endeavor that brings a lo t o f ex­ cite m e n t to a depressed co m m u n ity. W hen M r. W ya n t spoke to the P o rt­ land O bserver last week he was quite enthusiastic about the success o f the plan. V arious details are s till being w orked out, b u t M r. W ya n t indicated that he was in consultation w ith an a rchitect so as to determ ine w hat w o u ld be the m ost e co n o m ica lly feasible way to proceed w ith a plan that w o u ld require m a jo r construc­ tio n on the site. He also had entered in to a discussion w h ich w o u ld see a m a jo r re ta ile r as one o f the s ig n ifi­ cant anchors on the site. In general, the W ya n t plan calls f o f a m in i-m a ll s im ila r to a to w n square prototype. It w o u ld also in clude other a d ju nctive business enterprises w hich could very w e ll encompass parcels o f land adjac ent to the present s ite .If plans prog- struction industry and at the same tim e also offe rs opportunities fo r the e m ploym ent o f northeast residents. C e rta in ly the sale o f the W a ln u t Park p roperty is not going to resolve the Urban League” s pecuniary short­ fa ll. It does, how ever prom ise the in fu sio n o f badly needed cash in to a d w in d lin g treasury even though o f­ fe rin g o n ly a tem porary respite fo r the beleaguered organization. B y some estimates the W a ln u t Park property is valued in excess o f $1 m illio n . The W ya n t G roup is thought to be purchasing it fo r $525,000 which by any analysis is a tremendous bar­ gain. O f the m oney realized on the sale, i t also is k n o w n that the F irst Interstate B ank has encumbered at least $100,000 as a result o f a lie n fro m a previous foreclosure. T o be sure, i f the Urban League’ s problem s co u ld be am eliorated w ith o n ly about $400,000 then c e rta in ly w ith a clear and free e quity o f m ore than $1 m il­ lion in the W alnut Park property alone they should have been e lig ib le fo r a long term m ortgage. U n fo rtu n a te ly some o f the problem s that plague the U rban League are ch ro n ic, endemic and intractable. In such cases th e ir m oney managers should fo llo w the Flagger Training Sessions Set at PCC Cascade The N orthw est Business C enter Has scheduled sum m er classes in flagger c e rtific a tio n at the P ortland C o m m u n ity C o lle g e Cascade Cam pus, 705 N . K illin g s w o rth St. Participants m ay choose Saturday sessions June 10, June 24, July 8 o r July 22, said M ic h e le L . A lb e rt, center president. The classes w ill be fro m 1 to 4pm in Portable B u ild in g 5 at PCC Cascade. A nyone w ho wants to take part in a June o r July session should register and pay the $30 fee at the N orthw est Business Center o ffic e , 5516 N E 16th A ve., no later than one day p rio r to the class. F u rth e r in fo rm a tio n is available fro m A lb e rt at 284-8103.