Shopping Center or Dump - Should I worry?

Developers are changing the landscape of the Portland Metro area, and the change is heading squarely in my direction.The problem is, I'm not sure whether to be excited or worried.

We recently moved into a 1960 ranch-style custom home on an acre in Oregon City, just across the river from West Linn. It is a far cry from our 1100 square foot 1922 Craftsman bungalow in L.A., which we dearly loved, but ultimately had outgrown. While moving back home to the Northwest has been a big shift physically and mentally, with summer here and the lively Portland scene in full swing, we are really enjoying the change.

For example, when our toddler looks out across our fence to the neighbor's house, two things are vastly different: 1) Our neighbor is on 5 acres and uses a tractor to mow his fields (our old neighborhood did not include much acreage, much less tractors), and 2) Our neighbor's employment does not involve 5-10 drive up customers per hour, picking up the day's supply of happy candy, which although our little one found fascinating (as did I), was not the ideal source of local children's entertainment.

Our quiet little acre is only a couple of minutes from the freeway, and about 15 minutes from our favorite SE neighborhoods, but when you are here it feels like you are quite a ways out in the country. In essence, we get the benefit of city access without the downside of neighbors that are a little too close for two kids and two dogs. Not to mention the price was right, considering the East Side neighborhoods that we looked at were typically $100k more for 3/4 of an acre less than this place.

Since we've moved in, a few significant things have changed. As we've explored our new township, we've discovered that while Oregon City has potential, the "Original OC 97045," as the local pizza joint calls it, is growing in fits and starts for better or worse.

For example, Oregon City is home to the end of the Oregon Trail, which believe it or not, was an important feature to us when we bought this house (if you're going to live in a town slightly outside of the city, historicity can be an important investment factor). On the down side, Old Oregon City has huge potential to be a very desirable location, but it is currently filled with a few too many dive bars, outdated furniture stores, and low-rent law offices. And while it might come in handy to have a lawyer near the over-waxed bar stool off of which you're about to slide, it doesn't really do the downtown area justice.

But that is slowly changing - restaurants are gradually moving in, as well as businesses with a bit more urban sensibility, like the new wine bar in town - WineStock. So we are hopeful that some revitalization is underway without sacrificing the historic elements.

All that being said, there is one change about which I not sure how I feel just yet. I keep getting notices in the mail for city council meetings and planning commission hearings on the changes that are coming to Oregon City. When we bought the property, we didn't know about some of the development projects that were imminent, not the least of which is the Park Place Concept plan, which may eventually put a 4 lane road right next to our quiet little acre (to service 800 new homes up the hill). I've attended some of these planning meetings, and of course was greeted with a broad variety of opinions on this: it's good, it's bad, and an attitude of indifference.

So far, given the voices that are making themselves heard (both seemingly informed and clearly uninformed), I'm not too terribly concerned. To me, the key is not to panic. The change is imminent, call it progress or destruction, so what matters in my opinion is how you approach it. I think that the contingent of folks here who are freaking out over the determined charge of community evolution are resistant primarily to change, as opposed to the actual plans. They feel they are losing a way of life that they've come to enjoy, and they have a valid point. On the other hand, the development can mean an improved local economy, and on a personal level, a significant wind fall for many residents. It may mean a handful of locals decide to move further out, but it may also mean a lot more cash in hand when they do.

Our property is the perfect example. We are currently zoned for a single family dwelling on this acre of land (I believe). When the rezoning becomes official later this year however (we're apparently inside the Urban Growth Boundary, unbeknownst to us when we made the purchase), our quiet little spot will support the possibility of 15-20 dwelling units, which to me means townhomes or similar. So if we are wise, we could wind up with a pretty good investment here. On the other hand, we could end up living across the street from low income housing, which may not sit well with potential future investors in our little plot of land.

As a further complicating factor ("complicating," meaning adding to the, "not sure how to feel," mental pile), we are expecting a new major shopping development right at the mouth of the Oregon Trail (do trails have mouths? Is it actually still a trail head?). The Oregonian did a story on it here, where it is being compared to Bridgeport Village. While living near a modern mall is not very high on my list of priorities, I know it is for a lot of homeowners. So is this a good thing for property value, or a bad thing?

Ironically, sometime in Oregon City's past the fathers of the city felt that the best way to celebrate the gateway to the West was to put in not only a nice Interpretive Center, but also that revered and oft-used community resource, the city Dump. Landfill, transfer station, whatever you want to call it, its the Dump. Coincidentally, later they decided to allow the serendipitous union of a Home Depot right next door. Seems appropriate.

Really, if you think about it, when folks reached the end of the Oregon Trail, you can imagine the following conversation:

"Hubert! Git' up. We made it! Let's just dump all of our mentionables right here, and figure out where we're going to stake our claim."
"I'm up, Norbert! You thinkin' what I'm thinkin'? Because I know I'm sick and tired of carrying around all of these glass bottles waiting for the gall' dern' recycling station. This looks like as good a' place as any. Hey look! The Home sweet home depot! Hitch up the horses! I've got some consumerin' to do!"

So it all comes down to this: Should I be worried? Bridgeport Village in Oregon City?

I'm going to document the process here, as the project moves forward.

What do you think? Dump, or Development?

Here are a couple of links on it:
http://www.oregonlive.com/oregonian/stories/index.ssf?/base/business/1183625714107980.xml&coll=7
http://parkplaceconceptplan.com/