Portland looks to be adding a 30 story building to it’s skyline. News reports show that the developer is still in the early stages of the massive project. The building would be named Burnside One. After completion, it would become one of Portland’s largest affordable housing developments. Last week, Portlanders was treated to an early rendering of the proposed housing tower that will be located along West Burnside Street.
There are height restrictions. However, the tower as planned could exceed Old Town’s height restrictions. The developer is Curtis Rystadt. He does not yet have all of the funds to make it all happen. He has to have a sit-down with the city on Aug. 24 to discuss his plans for the tower. Housing is a huge need as Portland is dealing with a major houselessness issue.
At present, the Louisa Flowers in Northeast Portland, is the largest city-funded, single-building affordable housing development. It has 240 affordable units. Burnside One, at 108 W. Burnside St., would mark the second project from Rystadt and Access Architecture’s Brendan Sanchez. They formerly worked together on an affordable housing development formerly Glisan Tower, now called TimberView.
The Burnside One is proposing 728 units of affordable housing and hopes to break ground as soon as two years from now. The building would serve those who earn 60% or less of the area’s median income. Clean-energy will be a priority for the building with easy access to MAX. A solar-panel-clad tower could lower residents’ energy bills by $80 or $100. Its proximity to a public transit stop means fewer people in cars.
While affordable housing is needed, the developer felt that the hybrid approach of mixing affordable and regular prices has failed. Economists brought on by the city to examine the policy counter that, at least in the central city, tax subsidies make up for the rents that market-rate developers miss out on when they add affordable housing.
