A plan to transform a 10-acre site on Portland’s eastern waterfront into a mixed-use development has the potential to bring the city more than $200 million in one-time economic activity, according to a study commissioned by the project’s developers.
The Portland Press Herald reported that the economic impact study conducted by Chuck Lawton, chief economist for Portland-based Planning Decisions, was released before the Portland City Council is expected to vote on a controversial zoning change on Monday. The study also said the commercial and residential development is estimated to create 325 full-time jobs and provide housing for nearly 400 people.
Developer CPB2’s proposal for the historic Portland Co. site has met some opposition from people concerned the new development would block waterfront views and place restrictions on waterfront access. A newly formed group called the Soul of Portland said it’s also concerned that the project would encroach on nearby neighborhoods.
Source:Â Portland Press HeraldÂ
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