KBOO Interviews Denis Theriault of Portland Mercury on the Old Town Redevelopment Plan

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Air date: 
Fri, 07/25/2014 - 12:00am
KBOO interview with Denis Theriault of Portland Mercury on Old Town redevelopment plan
This KBOO Evening News piece includes an interview by KBOO's Theo Burke with Denis Theriault, News Editor of Portland Mercury, who has been covering the story.

The Portland City Council is considering a plan in Old Town / Chinatown / River District area that might spur building in the underdeveloped area.  The plan would waive up to $7 million of infrastructure fees to developers who build affordable housing. 

Should developers build in Old Town, those waived fees would affect every department in the City.  

A new modification of the plan proposed by Mayor Charlie Hales would extend rent freezes associated with the plan from 10 to 15 years long, but allow developers to charge any rent they choose to tenants who make 120% of Portland's median income. Hales proposed the modification to attract the vote of Commissioner Steve Novick, who was concerned that rents would suddenly be raised high after ten years.

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