The real estate slump is hitting Eliot, gently so far. Two major developments have been put on hold for now including The Kaiser Group (Ben Kaiser, architect/developer) projects at Fremont and Vancouver and the planned development on the Wonder Bread site across the street.
According to both developers, they intend to move forward with the projects when the market firms up. Both are dependent on residential condos at present and that market is in bad shape in Portland right now due to overbuilding and rampant speculation by condo buyers.
Ben is moving forward with construction the Fremont Lofts project behind Grand Central Baking. This project is an innovative live/work project with small spaces expected to be affordable to “creative” types and to attract a large number of them (50 housing units) to one place to foster collaboration.