Image provided by: University of Oregon Libraries; Eugene, OR
About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (March 15, 1995)
P agi \6 M arch 15, 1995 *1111 P ortland O bserver (Elje ^lortlanb (l9b server Union Station Housing Moves Forward HOST To Build 20 Homes In Woodlawn In an ongoing effort to meet the demand for affordable home own ership. HOSI (Home Ownership a Street at a Time) will embark on a 20 hom e subdivision in the Woodlawn neighborhood o f north east Portland. Construction on the project will begin b\ early spring on a two acre site situated between Northeast 13 th Four development teams have responded to a city plan to build 600 housing units on Union Station prop erty near the river front in northwest Portland. hen completed, the develop ment will be the largest single hous ing project undertaken in the central city area in recent years and repre sents the first phase of the River District Development Plan. Proposals have been received from GSL Properties, Inc., a Port- land-based development company; H. Naito Properties, also based in Portland; The P.A.C. Group, which includes Urban Pacific Properties and Avenue and Dekum Street. Designed by Bar Jankans, the 3-bedroom singe-family homes w ill be built by R and R Energy Re sources. The subdivision will feature off-street parking, front and back porches and private yards. Prices will range from $74.000 to 77,900. Chelsea Development of San Fran cisco and Alton Group of Portland; and Union Station Properties, a de velopment team composed of Secu rity P ro p erties o f S eattle, Weyerhauser Realty Investors of Seattle and the Related Companies of New York. "1 am delighted with the high level of interest in this very impor tant project and the commitment of the developers to help meet the city's housing needs," said Mayor Vera Katz. “Completion of these housing units is critical to meeting the goals set forth in the livable cities program. To this end, the council has dedicat day lighting o f Tanner Creek and the extension of Waterfront Park. Portland Development Commis sion Chairman Vern Ry les was com plimentary of the quality of the pro posals. "1 am very pleased to see that each proposal appears to meet our requirement that the housing be af fordable to a mix of household in comes. This has long been a policy objective ofcity housing programs,” Ryles said. Over the next six to eight weeks, PDC staff will work with a selection advisory committee to evaluate the proposals. ed $4.8 million in city funds to help make certain this housing is built.” Elements of the river district first emerged in the 1988 Central City Plan which proposed a focus very similar to current plans: housing, orientation to ward the river, water features, transit and pedestrian connections. City officials said the plan rep resents a bold vision including the creation of jobs, housing, services and recreation for all patrons of the central city. Specifically, the plan calls for up to 5,500 new housing units over the next 20 years, coupled with significant public improvements including a central city streetcar, the RTC To Auction Five Commercial Real Estate Properties In Oregon Five commercial real estate properties in Oregon, including four in the Portland metropolitan area, will be auctioned by the Resolution Trust Corporation (RTC) on April 10. The properties are assets of the former Far West Federal Saving Bank (Far West), Portland, Oregon. All of the assets will be sold absolute, re gardless o f price, to the highest bid der. The following are the assets scheduled to be auctioned: The former Far West Branch building located at 1915 SE Harrison, Milwaukie. The suggested opening bid is $200.000. The former Far West branch building located at 1701 SW Court Place, Pendleton. The suggested opening bid is $35.000. International Corporate Center, Lot 3. 2.2 acres of commercial land. Interstate 205 and Airport Way. Port land. The suggested opening bid is $50,000. International Corporate Center. Tract A. a building development site consisting o f 19.5 acres of land, lo cated at the intersection of Interstate 205 and Airport Way . Portland. The suggested opening bid is $450,000. Columbia River Tract, .77 acres o f developable land near the Interna tional Corporate Center, Portland. The suggested opening bid is $15.000. The auction will be conducted on Monday. April 10. beginning at 11:00 a m., at the Sheraton Portland Airport Hotel. 8235 NE Airport Way. The auction will be conducted by Realty Brokers, Inc., a licensed Oregon real estate broker. Sheldon Good & Company, Chicago, is acting as a consultant to the RTC for this public sale. For more information contact the Auction Information Center, 1- 800-810-0199. The RTC was established by Congress in August, 1989, to con tain, manage, and sell failed savings institutions and recover taxpayer fund through the management and sale of the institutions’ assets. To date, the RFC has closed or sold 744 savings institutions and achieved asset sales and co l lections o f more than $384 b il lion. A pproxim ately 25 m illion d e p o sito rs and ap p ro x im ately - $219 billion in deposits have been protected by the RTC’s clos ing o f insolvent thrifts. 1707 S. W. Court Place, Pendleton, OP '(Ütjc ^ o rtla n h (©HeetUer Unjustified Portions Of Rental Increases 4 ' «k For Mobile Home Park Tenant An unfunded coalition of mo bile home park tenants is battling well-heeled mobile home park own ers and their lobbyists over a bill initiated by the tenants to bring an appeals mechanism to rentally belea guered park tenants. The single overriding worry of the 60.000 park tenants of Oregon, who average 72 years of age. is the accumulation of unjustified portions of rental increases. Park tenants are powerless to do any thing about it. The passage of HB-2394 would offer a two-step dispute resolution process if the majority of tenants of a park felt that their park owner had failed to justify portions of their in crease. On-park mediation would be required, with binding arbitration following if the former failed. This w ould be at no cost to the state, and no crowding of the court sy stem. Park tenants are particularly vulnerable to exploitation because they are encumbered by the homes they own. To leave, they must sell or find a new place for their home. Resale is difficult where rents are already too high, it is costly to move, and most nice parks refuse to accept incoming homes that are more than live years old. Once an unjustified portion of the rental increase is in place it stays there year after year, accumulating as much as $500.000 in several vears Dad’s mittee for a hearing. The Commerce Committee is chaired by Represen tative E Idon Johnson of Centrai Point, O regon. The H onorable Eldon Singles & Seniors, I can help you! “ 1st Class Guarantee" Speedy Service Friendly Call For Quote m w A-ZEBRA RMLs O B Best Cash Prices 104 NE Russel Portland. DR 97212 George A. Hendrix MBA, GRI, Broker (503) 2 3 0 1390 • (Res.) 287 6837 m e r ic a ’ RTC RESOLUTION TRUST CORPORATION Resolving The C risis R estoring The Confidence REAL ESTATE AUCTION 5 Quality Commercial Properties and Landsites in Portland, Milwaukie and Pendleton, Oregon TO BE SOLD ABSOLUTE, REGARDLESS OF PRICE 1. 19,4 Aerea Commercial Landsite, In te rn a tio n a l Corporate Center - Northeast Q uadrant o f 1-205 and A irp o rt W ay, Portland, Oregon. Situated the Columbia River. Located 1700 feet east o f the Glen Jackson Mem orial Bridge w ith 600 feet o f frontage along the river. Zoned RF. Suggested Opening Bid: $15,000. on the east side o f 1-205 and Portland Interna tiona l A irp o rt between Marine D rive and A irp o rt Way. Zoned EG2. Suggested Opening Bid. $450,000. 4. Former Bank Branch Building - 1715 S.E. H arrison , M ilw a u k ie , Oregon. T w o story 2. 2.2 Acres Commercial Landsite, In te rn a tio n a l Corporate Center - Northeast Q uadrant of 1-205 and A irp o rt W ay, Portland, Oregon. T h is n a rro w strip o f land is north o f Parcels 1 and 2 on the south bank o f office bu ild ing w ith 9.541 sq. ft. plus basement. 20.905 sq. ft. landsite zoned C-C. C om er location w ith high visib ility. Suggested Opening Bid: $200.000. 5. Former Bank Branch Building - 1701 S.W. Court Place, P e n d le to n , O re g o n . Single story 3.748 sq. ft. b u ild in g on a 11,000 sq. ft. landsite. C om er location and 18 parking spaces. Zoned C -l. Suggested Opening Bid: $35.000. You’ve heard o f smart money, SPECIAL INTRODUCTORY RATE right? Well this is very smart NO P O IN TS money. Because you can use & NO FEES a home equity line to pay off 1 can double the upstairs room before the twins arrive. high-interest credit cards, save for college, fix up the house whatever you want. Not only will you pay a much lower interest rate, but that interest may be 100% tax deductible. Your financial advisor can help you with that. We’re here to help with a terrific interest rate and, if you open your line o f credit by May 5, you'll get a $200 bonus. Plus, there are no points and no fees. If you need details, or would like to apply, stop by any BofA branch or call us at 1-800-THE-B of A. You're smart. Your money CASHIER’S OR CERTIFIED CHECK REQUIRED TO BID Broker Participation Welcome. should be. too. Seller financing is available to qualified purchasers. m Properties will be sold individually and are appropriate for all investors including small investor groups. For Brochure & Terms o f Sale, call: Bank off Am erica 1-800-810-0199 Auction coordinated by Realty Brokers licensed Oregon Broker, the RTC Kansas City Sales Center and Sheldon Good & Company. Consultant Event ID Number 730-0479 M *e from Legal has some m p o ila nl reading lo r you To Oe eligible lor this o’lpr apply by 5 5 95 activate by 12 31 95 The special introductory discounted rate only good until October 31 1995 The APR which ran »aiy monthly was 10 67", on 2 9 95 Your rale will never be more than 16” , The APR on an optional ined Mie Ioan taken on 2 9 95 was 9 45". 10 m There a I «nence charge oi $50 'oi each i ied 'ate portion alter the 1 on automatic payments Irom a B ol A checking account It automatic payment is stopped the tale w it increase by 1/2“ . A $65 annual tee is waived the first year No points no tees otter based on TAV uo to $ t0 0 000 if aooraisai s required a tee writ be assessed Adequate property insurance must be mamtamed r t 9 9 5 Bank o' America Oregon Member FOIC SS-» ■» A Realty Inc. 282-5111 - on Get a $200 Bonus With Every BofA Home Equity Line. AUCTION DATE & LOCATION: April 10, 1995 - 11:00 a m. Sheraton Portland Airport Hotel • Portland Oregon heating oils a n k in g 300 NE Multnomah, Suite #27 Portland, Oregon 97232 3. .7 7 42 Acres Landsite N orth of M arin e D rive, Portland, Oregon. Service Johnson, friend to mobile home park owners, is refusing to give this tenant relief bill a hearing, thereby killing it without a chance. We urge all park tenants to w rite their R epresentatives and dem and that our bill be given a hearing. LISCENSED IN OREGON SINCE 1975 Zoned EG2. Suggested Opening Bid: $50,000. •fl r,'V '# in large parks. HB-2394 has been endorsed by nine bipartisan Representatives. The bill was sent to the Commerce Com i . . ■ a . _______ 1W. LEN DER