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Portland developers cautious

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High Five
Thursday, August 05, 2010

Portland-area developers are beginning to return to work after laying low throughout the recession, but they are proceeding cautiously.

Developers such as Barry Cain, president of Gramor Development, say they learned a lot from the recession, which is affecting the way they do business now.

Cain’s company is beginning work on its biggest project since the recession hit, Progress Ridge TownSquare in Beaverton. In the past, Cain would have moved forward with a project before any anchor tenants were secured. But this time, he decided to wait until he had agreements signed by three anchor tenants and nine additional tenants.

“This industry lost some good developers, and frankly, good people, because they bought land on speculation before the recession,” Cain said.

Read more at the Daily Journal of Commerce.


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