Compromise reached on Portland development
A major Portland apartment and retail development is being scaled back after reaching a compromise with a group suing to halt the project.
The Portland Press Herald reported that Federated Cos., a Miami-based real estate company, has agreed to reduce the height of its four proposed buildings in Portland's Bayside neighborhood from 14 stories to six.
Keep Portland Livable, the group that was suing to appeal the city's approval of the original project, has agreed to stay its lawsuit as the project receives the necessary city approvals again. The group had criticized the original project, saying it violated the city's Comprehensive Plan and would have overwhelmed the neighborhood.
The new plan reduces the total number of market-rate apartments by nearly half, from 850 to 440. It also calls for just one parking garage instead of two, reducing the number of parking spaces from 1,100 to 800. However, the new plan was able to maintain almost 90% of the retail space that was originally planned on the four buildings' ground floors.
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