|Lincoln City diversifies its economy|
|By the numbers|
Mixed-use projects have been part of the downtown plan. At the Driftwood Estates, all the condo units have been sold and all the commercial space has been leased.
When Portland-based developer Sergey Kashubin approached the city in 2007 for permission to build condominiums in the Oceanlake district in the center of town, the area he wanted to develop had been identified for commercial use. Olsen suggested they do both. The city would loan Kashubin $50,000 at no interest and fund a plan redesign if he agreed to lift the building 10 feet to put commercial space on the ground floor with residential units above. The result was the Driftwood Estates on NW 15th Street. Kashubin paid back the loan early and the two commercial units sold first, in 2008, one to a real estate agency and one to a Portland-based artist. The larger vision is to make the downtown Oceanlake district, which has the majority of retail stores as well as a movie theater and several eateries, more pedestrian friendly. With beach access at the end of the street, the mixed use has encouraged more tourism beyond the beach, bringing Highway 101 traffic into the district.