[continued from previous message]   
      
   So we made it through, and now we’ll lease up and hopefully get some   
   recovery, and we’ll hold it long term. There isn’t another option   
   because recent sales are unimaginably low.   
      
   A debate rages whether high taxes are chasing people out of Portland.   
   Care to join the fray?   
      
   The property taxes are just simply too high for the value of what you’re   
   getting. When we get five leases, I think, “Oh my God, there are five   
   people in Portland who want apartments.” I had lost faith that anyone   
   would want to be here. I look at my condo tax bill in the Pearl and   
   wonder who else would pay this?   
      
   We had lunch at Bullard Tavern in the Woodlark the other day. It was   
   great. How does the hotel stay in business?   
      
   The best angle I have with my lender on the hotel is that they don’t   
   want to take it back. Lenders just took back the Target across the   
   street, and they don’t know what to do with it. And all these other   
   hotels got taken back. I’m really proud of the hospitality experience we   
   delivered. We have two years of Michelin stars and we’re No. 1 on   
   Tripadvisor. We have a restaurant that opened in 2019, had to do takeout   
   during the pandemic, and now has a great following.   
      
   Anthony Effinger   
   Anthony Effinger   
     |   
   aeffinger@wweek.comOpens in new window   
   Anthony Effinger writes about the intersection of government, business   
   and non-profit organizations for Willamette Week. A Colorado native, he   
   has lived in Portland since 1995. Before joining Willamette Week, he   
   worked at Bloomberg News for two decades, covering overpriced Montana   
   real estate and billionaires behaving badly.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)