- Associated Press - Monday, February 8, 2016

PORTLAND, Ore. (AP) - Portland real estate owners have revealed a plan to bring $1.5 billion in investment to transform one of the city’s oldest neighborhoods.

The Oregonian reports (http://bit.ly/1UWZ36B ) that the Goodman family, which runs the Downtown Development Group, is looking to add 11 new buildings on the surface parking lots between the Burnside and Morrison bridges.

The Goodmans are planning to include both office and residential uses for the new buildings, with space for restaurants and retail. They say they have been in discussions with potential tenants, but have declined to reveal names.

The proposal would allow developers to construct taller buildings downtown under new zoning regulations planned by the city. Five buildings could stand as tall as 460 feet, putting them among the tallest in the city.

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Information from: The Oregonian, http://www.oregonlive.com

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