Local developer breaks with convention

I grew up near a bowling alley and have many fond memories hanging out there as a kid. But that’s not why I look forward to the opening later this year of the Grand Central Building on Portland’s inner east side. Before its large-scale remodel the building was a 28-lane bowling alley. In addition to retaining 12 bowling lanes it will house a bar, restaurant, billiards room and 12 tenants in storefronts along and between Belmont and Morrison avenues.

The local developer John Plew tells the Oregonian that tenant interest in the storefront spaces is high. What I was most pleased to hear him say is this: “I could fill it up tomorrow with the national guys, but I don’t want to…We want local and regional businesses that are distinctive to the city and region. We want an urban feel. We’re not looking to make it something you’d find in the suburbs.”

Now that’s something you don’t hear many developers say. Depending on which report you read, Plew’s firm sunk between $8 million and $11 million into buying and renovating the historic building. Even with that financial exposure, Plew isn’t following the depressingly conventional formula of filling it with national chain outlets. Although his tenants will pay a premium for their store space, Plew’s commitment to area businesses is hugely refreshing. And another re-emerging Portland neighborhood is soon to be the richer for it.

August 9th, 2007

TrackBack URL

Leave a comment