The urban renewal area runs from the Willamette River to Northeast 15th Avenue, Northeast Broadway to Interstate 84. Both plans call for a headquarters hotel to be built one block north of the Oregon Convention Center. Both also call for a bike trail paralleling the Banfield Freeway.
Plan One sees medium density residential moving from the western edge to the Lloyd Center. Plan Two would have it only east of Grand Avenue. In addition, Plan One calls for more commercial development of the riverfront area between the Steel and Broadway bridges, while Plan Two sees the area as strictly residential.
The toughest area to develop will be around the convention center, according to city officials. The area's ownership is fragmented, complicating large development.
As for the headquarters hotel, developers may not be interested in the financial risk given the area's recent hotel-building boom. The city's room inventory has jumped 30 percent since 1996, while occupancy and revenue per available room have declined.
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