Many of you know that a $1.5B expansion is underway to extend the current lightrail system from Portland to Milwaukie. You may not be aware that only 11% of the total funds are slated to compensate landowners for their losses. 61 businesses and 12 residences will be forced to relocate. In all the government will be taking all or part of 129 parcels. Many commercial brokers are licking their chops at the possibility of getting new clients…RCCRE is taking it a bit further. We created PDX Lightrail Resources, a coalition of professionals focused on helping those impacted by the project. Our group includes:
- Real Estate Lawyers with condemnation experience to fight for your rights and full compensation of your loss
- Commercial and Residential Brokers to assist with relocation and valuation
- Commercial Appraisers
- Residential Brokers
- CPAs to explain potential gains and losses
- Accommodators to assist with proper treatment of 1033 funds
Neither Rose City Commercial Real Estate nor PDX Lightrail Resources is fighting the creation of the Milwaukie leg of the system. We think that Portland will benefit from the project near term through creation of much needed construction jobs and long term livability. But we are committed to making sure that those impacted recieve just compensation as required by Chapter 35 of the Oregon Revised Statues and the Federal Uniform Relocation Act.
Be aware that compensation is due not only for the whole and partial “takings”, but construction easements and other compensation items need to be considered as well!
To get a list of professionals that are part of PDX Lightrail Resources, please contact me at 503.577.1034, or send me an e-mail to: rick@rosecitycre.com.