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|Articles - April 2013|
|Monday, April 01, 2013|
Page 2 of 4
For a glimpse of what East Portland might look like in the future — and to understand why public officials and community organizers are rethinking traditional redevelopment strategies there — start with the fact that outer eastside neighborhoods are disproportionately poor and ethnically diverse. According to the 2010 census, 7,700 African Americans have moved out of inner North and Northeast Portland in the past decade, many moving to East Portland. Thirty percent of area residents are nonwhite, up from about 10% in 1990. About 80% of the kids enrolled in the area’s David Douglas School District qualify for free and reduced lunch, nearly double the percentage in Portland Public Schools.
These demographic trends are driving changes at the Portland Development Commission, says Patrick Quinton, the agency’s executive director. Historically, PDC has invested urban renewal funds in large-scale downtown projects such as the Pearl District or South Waterfront. In 2011, however, the agency shifted gears, creating six micro-urban renewal areas in lower-income eastside commercial districts known as “Neighborhood Prosperity Initiatives.” The goal, Quinton says, is “to grow businesses in East Portland and improve the economic fortunes of communities of color.” Accompanying the agency’s geographic shift is a philosophical change, says Quinton. “We’re focusing on people and businesses, not buildings and places.”
As the (modestly funded) prosperity-initiative districts take shape, local nonprofits are also doing their part to boost low-income and minority business ownership in the outer east side. A case in point is the Latino Mercado, a $1.6 million year-round farmers market-style venue that will open in 2014 in a renovated car dealership on Southeast 72nd and Foster near the Lents Urban Renewal Area.
A partnership between PDC and the Hacienda Community Development Corporation, the market will be staffed by graduates of Hacienda’s food-incubator program, which teaches eligible residents how to operate food businesses. According to Nathan Teske, Hacienda director of community development, the Mercado will allow low-income Hacienda residents to start up businesses relatively cheaply while helping to revitalize the languishing Foster commercial corridor. The current plan calls for each vendor to sell over $200,000 by the fifth year of operation.
Another capacity-building project, this one in the Lents Urban Renewal Area, borders on groundbreaking: a community real estate investment trust (REIT) that would allow low-income residents to invest in real estate. An initiative of Mercy Corps and Rose Community Development, the REIT is an innovative twist on a wealth-building tool typically reserved for the affluent. The goal is to recruit about 300 low-income renters in the Lents neighborhood, who would then invest about $100 a month to purchase a commercial building, then lease storefronts to rent-paying businesses.
“We think it’s pretty exciting both as an asset-building and antipoverty approach and a way to bring commercial investments into neighborhoods like Lents,” says Sauvie. As the REIT grows, investors could purchase additional properties. Organizers are creating a curriculum for potential investors, and the program is expected to get off the ground sometime this year.
Tuesday, July 08, 2014
BY LINDA BAKER | OB EDITOR
The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation — whether the terms are mere buzzwords or actually explain today's extraordinarily complex and fast changing business environment.
Update: We caught up with Portland's Thomas Thurston, who shared his data driven take on the disruption controversy.
Monday, July 07, 2014
BY TOM COX | OB BLOGGER
Named after the 2010 experiment by Thomas Ryan, "Robin Sages" are fake social media profiles designed to encourage linking and divulging valuable information.
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
Wednesday, July 09, 2014
BY LINDA BAKER | OB EDITOR
Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.
Wednesday, August 06, 2014
BY LINDA BAKER | OB EDITOR
Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.
Wednesday, July 02, 2014
BY JESSICA RIDGWAY | OB WEB EDITOR
Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.
Thursday, July 31, 2014
BY MARY SPILDE | OB GUEST CONTRIBUTOR
Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.
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Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder William T. Patton has been appointed to the board of directors for Cascade AIDS Project, an organization that provides educational services and outreach to thousands of Oregonians living with HIV/AIDS.
Fifty-one Lane Powell lawyers were recently selected by their peers for inclusion in The Best Lawyers in America® (Best Lawyers) 2015; of those selected, 23 lawyers are from the Firm’s office in Portland, Oregon.
Barran Liebman is proud to announce that Andrew Schpak, a Partner of the firm, has been named Chair of the American Bar Association’s Young Lawyers Division for the 2014-2015 bar year.