Comments on: Boutique Developers Eager To Sell

By: PDX_Mike

PDX_Mike — Fri, 13 Nov 2009 08:06:02 +0000

The eco-things in Concordia really ticked me off when I saw them. I used to live a few blocks from there. They match NOTHING in the neighborhood. Perhaps if they built them across from New Seasons I might get it, but there? There used to be a reasonable 3-plex in that spot. What a letdown.

By: BB

BB — Thu, 17 Sep 2009 17:49:31 +0000

In reference to the Belmont East Condos. They did start pre-sales prior to the finish of construction in 08′ but they did not get their final occupancy permits until March of 09′. Since then they have sold 11 units out of 26 (almost half)which is by far better than all the other condos in the area. Someone please show me another condo in the area that, in this current market, has sold almost half of their units in 6 months.

By: Leigh

Leigh — Fri, 11 Sep 2009 03:36:11 +0000

To add salt to the wound, the owner of Hungry Tiger got scammed by Mike Purcell.

http://wweek.com/editorial/3542/12989/

Back From The Grave

Bankrupt building contractor Mike Purcell hopes for a new lease on life. Critics say No way.

By: John

John — Tue, 08 Sep 2009 15:54:43 +0000

The Hungry Tiger building on 28th is Condo. The restaurant owner turned developer told me that that location was so good it was immune to the downturn. Wonder if he still thinks that. Too bad, he seemed like a nice guy.

The Belmont East developer was a retailer who had a small store there. She turned down good offers for her land that I bet she wishes she would have taken. She was too greedy to leave any perceived profits for anyone else.

By: Brat

Brat — Mon, 07 Sep 2009 14:32:51 +0000

Leigh’s comment gave me pause. Just how is the assessor handling property taxes for these new condo developments? I looked at the Westerly. Several are offered below what the assessor states is the “improvement value” yet they haven’t sold. The development evidently has a current exemption. For example: #306 offered at $519,000. County Assessor -Improvement & Real Market Value: $567,590.00. Exemption: $378,390.00. Assessed: $95,470.00.

When I look at the law on assessments it is very squishy about the assessed value of new construction. Can anyone tell me what is likely to happen here with assessed value?

By: Leigh

Leigh — Thu, 03 Sep 2009 16:50:05 +0000

I have to laugh at the Belmont East attempt…why not just lower the dang prices?!?!?

I always considered condo living to be less expensive than single family dwellings but not here. Taxes are extra steep on new development and price per square footage is outrageous. We looked at some ‘deals’ at Riverscape just north of the Fremont Bridge. Sure we could almost afford the mortgage but the taxes were anywhere from $6-8K!!! And then add the HOA dues…

Anyone know if the development at 28th and East Burnside is going condo or apartment?

By: John

John — Thu, 03 Sep 2009 16:20:13 +0000

Find me a “green” developer that is not under water…

Seems to me that people spent extra for “green” only when they didn’t expect to pay the loan back themselves. Now that buyers are paying with their own money (not the next guy they flip to or the bank’s money).