|| 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.
|The more they change, the more they stay the same|
|The 2014 List: The Top 33 Large Companies to Work, For in Oregon|
|The 2014 List: The Top 34 Medium Companies to Work, For in Oregon|
|The 2014 List: The Top 33 Small Companies to Work, For in Oregon|
|The future of money|
|Bitcoin creator revealed|
|Staples closing 225 stores|
|EU to offer aid package to Ukraine|
|Daily sugar intake 'should be halved'|
|White House reveals 2015 budget|
|RadioShack to close 1,100 stores|
|Bill Gates regains spot as world's richest person|
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.
Allowing individuals to access their own healthcare options has created more difficulty instead of making things easier. There are so many examples that illustrate why agents are more important than ever in helping businesses and individuals determine the healthcare coverage that best fits their need.
Capital Pacific Bank, a Portland-based community bank serving businesses, professionals and nonprofit organizations, today announced that it has earned recognition as a Certified B Corporation by B Lab, a nonprofit organization dedicated to building a community of socially responsible businesses. The bank is one of six financial institutions across the country to achieve B Corp status.
On Thursday, April 3, from 8 a.m. to noon (registration begins at 7:30 a.m.), Lane Powell will team with Oregon Business magazine for a half-day seminar titled “Best Practices For Best Employers™: How to Become One of ‘Oregon’s Best Workplaces’ Starting Today!”
For the 5th year in a row, Oregon Business Magazine has recognized Barran Liebman as one of the 100 Best Places to Work in Oregon.