|| Print ||
|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, March 04, 2014
BY DEBRA RINGOLD | GUEST CONTRIBUTOR
How can we strengthen the performance of institutions charged with teaching what Francis Fukuyama calls the social virtues (reciprocity, moral obligation, duty toward community, and trust) necessary for successful markets and democracy itself?
Friday, March 14, 2014
BY TOM COX | OB BLOGGER
Five books that will make you a better leader.
Thursday, March 27, 2014
BY JESSICA RIDGWAY | OB WEB EDITOR
Watch this OB Original Video about three Oregon companies and how crowd-funding "kickstarted" their business ideas.
Thursday, February 27, 2014
Our 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.
Tuesday, March 11, 2014
BY MARK BLAINE | OB BLOGGER
The publisher of the Emerald Media Group moves on, leaving a cutting edge media group that depends on business acumen for its survival.
Tuesday, February 25, 2014
BY PAIGE PARKER
A money management firm broadens its reach.
Tuesday, February 25, 2014
BY BRANDON SAWYER
Sales of small businesses surged in 2013 according to the biggest Internet marketplace of such transactions, BizBuySell, increasing to 7,056 reported sales, a 24% increase over 2012, when they dropped 7%. Portland Metro sales tracked by the site grew 9% to 73, capping three years of solid growth. On top of that, Portland’s median sale price jumped 67% to $250K, versus just 13% to $180K nationally. Portland was one of just six metros tracked where the median sale price matched the median asking price, with sellers getting, on average, 92% of what they asked.
|How Doug Badger spends his downtime|
|Port at a crossroads|
|Our man in Congress|
|100 Best awards 2014|
|McDonald's U.S. Q1 profits decline|
|Americans question Big Bang theory |
|Skin cancer rates 'surge' since 1970s|
|Teen survives 5-hour flight in jet wheel well|
|NASA discovers first potentially habitable planet|
|Effects of childhood bullying last a lifetime|
|Scientists make first embryo clones from adults|
Marketing the state brings new business, new jobs and a better quality of life for everyone.
Living in the beautiful Pacific Northwest means enjoying our wonderful surroundings, while remaining aware of the multiple types of natural disaster threats that we face: winter storms, windstorms, floods, landslides, earthquakes, volcanoes and tsunamis.“
Oregon State University's hospitality degree program invests in next-generation leaders.
On Saturday, April 26, more than 1,900 local Comcast employees and their families, friends and community partners will “make change happen” as they volunteer to improve schools and nonprofits in Oregon and Southwest Washington as part of Comcast’s 13th Comcast Cares Day.
NAI Norris, Beggs & Simpson just completed their newly rebranded First Quarter Market Reports. Not only does it feature a brand new format, but the report ensures accuracy due to the annual truing up of their database.
Samuel Hernandez, an Associate at Barran Liebman, is the recipient of a 2014 Oregon State Bar Litigation Section Rising Litigator Award.