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