Will the 1 percent show? Or will it be zero?

The writers at the O are always a lot more optimistic than I am. Or maybe it's just their dedication to Portland Polite. But today they managed to put a positive spin on the Ritz-Carton Hotel and condo tower project in downtown Portland, which to me is one of the most ridiculous wastes of money ever seen in these parts.

The good news, if you can call it that, is they got it built. Many of us remember the Moyer office tower fiasco, where they dug the pit for the building and then ran out of money, leaving the whole block a huge hole for years. In the Ritz-Carlton case, the only hole is financial. But it's going to be quite a divot. And that's even taking into account the obscene "opportunity zone" tax handout the deal got courtesy of the Trumpies' 2017 giveaway.

If that baby pencils out, and I live to see it, I'll hold a drawing and buy a reader a fancy dinner in the restaurant there. Sure, it's a dangerous 'hood, but I'm not too worried about having to go.

Portland has proven time and time again that we are good at building ugly skyscrapers, but bad at maintaining a viable city around them. The Ritz is one more soulless monstrosity to add to the collection.


  1. The timing couldn’t be better! Put me down for one.....maybe two.

  2. But then, perhaps we aren't privy to the plan?

  3. They're kinda catching on to the money laundering hustle in Miami. Best to diversify. Let's give the oligarchs a place to park their money where no one really wants to look. Anyone who wants to seriously take a look at what's happening here will need to change planes in order to come see for themselves. No one wants to do that. Smart play by people who really don't want to be seen.

  4. And don't lose sight of Goodman developing the RC rendering fewer places to park downtown now! Gonna have to bike instead of spewing hateful Subaru carbon. ;o)

  5. Most of the potential buyers will have an income north of 400K. The local taxes would start at the rate of at least a grand a month for the privilege of living there.


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