Prineville transforms school into housing, while Portland’s Yard building is the subject of controversy, again.
OREGON NEWS
— The new Apple and Facebook data centers are putting a squeeze on the housing supply in Prineville, but 29 affordable housing units will be added to the market sometime next year as the city plans to convert an elementary school into an affordable housing complex. The project will be completed by Housing Works, the regional housing authority. The apartments are not targeted for construction workers but will serve residents who earn 50% or less of the median income. Rentals will begin at $387 for a studio, and up to $537 for a three bedroom. Read more from the Bend Bulletin.
— Intel’s plan to restructure employment and increase revenues is on track. The company has reduced the total number of employees by 6,000 so far, with 6,000 to go. Intel’s second quarter earnings were on track at $2.9 billion. The Portland Business Journal has more.
— The controversial Yard building east of the Burnside Bridge is now the subject of a conflict-of-interest probe. Marcia Karr, a Portland building inspector, admitted to selling engineering software to the Yard contractors for buildings she approved. The Oregonian reports this inquiry raises more questions about the building’s energy code standards as well.
— Highway congestion might get a little relief in the next four years thanks to two projects recently added to the Oregon Transportation Commission’s plan. The first would add a southbound lane on Interstate 5 from Highway 217. The second would make a plan to relieve congestion at the I-5 and Interstate 84 interchange in the Rose Quarter. Read more about the plans from the Portland Tribune.
— To pubish our Private 150 list this year, Research Editor Kim Moore took a different approach, asking companies to send along a photo representative of their company. Read about her experience here, and view this year’s list here.
NATIONAL NEWS
— Tesla’s Elon Musk announced the latest master plan for the automaker yesterday. Musk said he wants to eventually build heavy-duty trucks and buses, but didn’t include any detail as to how Tesla could accomplish the plan. Reuters has more.
— Uber is reportedly seeking a loan of up to $2 billion. The ride-share company is expanding globally, but has to spend aggressively to do so. Bloomberg reports Uber is not in danger of running out of money, however, with $11 billion on its balance sheet.
