Portland real estate squeeze

ArtsWatch Weekly: a squeeze, a shuffle, a Fertile sprawl

Real-estate blues and a major reshuffle at RACC top the news; Fertile Ground's new works sprawl across the city; Federale's Hegna sounds off

LOCATION, LOCATION, LOCATION, the real-estate mantra goes, to which we might add: Availability, availability, availability. Price, price, price. As greater Portland’s real-estate market heats up, prices are rising and affordable places to use for performance halls and galleries are becoming scarce: In a city that’s staked its future on the creative economy, many of its creative groups and people are finding the landscape tough to negotiate.
 

High-stakes space crunch: Lever Architecture has designed a new theater and office complex for Artists Repertory Theatre on half of the block it used to occupy in Goose Hollow. The other half features a large tower. Rendering courtesy Artists Repertory Theatre

In his story Arts groups play the real estate game, architecture and planning writer Brian Libby, who knows the city’s development scene through and through, takes ArtsWatch readers into the space squeeze and the many ways that artists and cultural groups are coping with it. “The erosion of small performance spaces seems to indicate how a booming economy can be a curse for struggling arts organizations as much as a blessing,” Libby writes. This is the first of several stories Libby will be writing for ArtsWatch on the complex topic of space and art: Watch for more.
 

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Adventures in inner & outer space

As self-employed Portland theater workers throw a party to help them buy a house, Tigard's Broadway Rose launches a $3 million expansion

In the gig economy, most artists are independent contractors, an economic reality that can shut them out of such basic civil interactions as the housing market: Without a steady paycheck, how does a painter or actor or musician – or anyone else in a temporary-contract or piecework job – persuade a bank to approve a loan so she can buy a house? It’s a problem accentuated in Portland and cities like it by a white-hot real-estate market that can leave even modest spaces for living and work out of economic reach.

Portland Playhouse will play host Monday night to a “house-raising party” for self-employed theater workers.

ARTSWATCH FOCUS: ARTS & SPACES


Are there creative ways for creative people to solve one of the basic challenges of urban living? Two Portland theater professionals – the talented sound designer Shareth Patel and his wife, marketer/administrator/stage manager Corinne Lowenthal Patel – have come up with a plan to buy the Southeast Portland house they’re living in. It involves a relatively little-known process called a bank statement loan, which is particularly structured for self-employed borrowers. Tonight – Monday, Aug. 19 – they’re throwing a modern-day version of a rent party to help them raise the $60,000 they need in their next bank statement to ensure the loan goes through. And they’re doing it with a little help from a lot of their friends.

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