Comments on: Vestas to move into Pearl warehouse /news/2010/08/18/vestas-to-build-headquarters-in-the-pearl-district/ Building and Construction News in Portland, Oregon and the Pacific Northwest Mon, 01 Nov 2010 23:25:01 +0000 hourly 1 https://wordpress.org/?v=6.6.6 By: Vestas’ passes the bucks to Intel « Daily Journal of Commerce – Building and Construction News in Portland, Oregon and the Pacific Northwest /news/2010/08/18/vestas-to-build-headquarters-in-the-pearl-district/#comment-43947 Mon, 01 Nov 2010 23:25:01 +0000 /?p=58109#comment-43947 […] Wind turbine maker Vestas Americas is passing on the opportunity to use a $31 million tax-exempt, federally-subsidized bond for its new facility in Portland’s Pearl District. […]

]]> By: pdxre /news/2010/08/18/vestas-to-build-headquarters-in-the-pearl-district/#comment-36814 Thu, 19 Aug 2010 16:02:25 +0000 /?p=58109#comment-36814 I forgot to mention that $508/SF is incredibly overpriced for a retail/office building. When it is done it will be worth $300/SF on its best day. In the current market developers are struggling to find work and construction costs are down. The development costs just don’t make any sense.

]]> By: pdxre /news/2010/08/18/vestas-to-build-headquarters-in-the-pearl-district/#comment-36813 Thu, 19 Aug 2010 15:59:49 +0000 /?p=58109#comment-36813 According to the CRA website, the building includes a total of 130,000 SF. If the project is going to cost $66MM, that equates to $508/SF. Does anyone else find it funny how many consultants are working on the project? I count three different architectural firms. How many different architects do you need? I doubt Vestas cares when they are being given free money and the City is giving them an interest free loan that probably doesn’t have any recourse if and when the business fails. This building is going to be worth WAY less than $66MM, so if Vestas were to fail and the building had to be sold the City wouldn’t get a dime.

Beautiful financial strategy by Mayor Adams!

]]> By: nativepdx /news/2010/08/18/vestas-to-build-headquarters-in-the-pearl-district/#comment-36731 Wed, 18 Aug 2010 23:33:00 +0000 /?p=58109#comment-36731 We only had to pay about $10 million to bring in Vestas and this sustainable business.

]]> By: Renovation Planned for Old Meier & Frank Warehouse « Portland Preservation /news/2010/08/18/vestas-to-build-headquarters-in-the-pearl-district/#comment-36725 Wed, 18 Aug 2010 23:08:43 +0000 /?p=58109#comment-36725 […] the new headquarters for Vestas Wind Systems. The Portland Business Journal, the Oregonian, and the Daily Journal of Commerce are all reporting that building owner –  Gerding Edlen – will soon begin renovations, with […]

]]>