Four the Future - January 28

For today: Pearl District, energy efficiency jobs, stimulated tarmac, and high-speed rail.

• What's next for Portland's Pearl District?
  Source: The Oregonian; January 9, 2010
  Summary: Retailers are beginning to move out of northwest Portland's Pearl District. It's not unusual for retails to reassess their positions during a recession, but the Pearl is so new, it feels unusual. The Pearl District was caught up in the bubble--too many condos, too many retailers, high lease rates. The executive director of the business association feels that this has more to do with national trends than local ones. Seventy-five percent of the retailers are local, and their numbers are increasing. Currently, space in the Pearl is going for mid- to high 20 dollars per square foot per year, which is typical of some other neighborhoods in Portland, and lower than on Northwest 23rd. National retailers are looking for rents around $16, however. The Pearl is perceived as a "hoity-toity" neighborhood, but local retailers say it's not.
  Opinion: I saw the Pearl just as it was starting to get off the ground. It was a promising concept. Prior to its renovation, the Pearl District was a warehouse district of little use. Now it has opportunities, the trolley system, and the legacy of a number of property owners who thought they'd make a fortune, and were disappointed because they limited the size of the market through fabulously high prices. Now that the market is correcting, actual middle class and young families will be able to move into downtown Portland. Again, the speculation, the casino capitalism, bit some people. Now it's time to rejuvenate the community by making a neighborhood for regular folks.


• Demand for upgraded energy efficiency at home is weak
  Source: USA Today; January 6, 2010
  Summary: With home construction lagging, companies are looking to upgrade existing houses. But, lacking financial incentives and a sluggish economy, homeowners are not taking them up on it. Last December, President Obama asked for a "cash for caulkers" program which would help reduce energy usage and get jobs for construction workers. On average, 150,000 homes are upgraded each year, mostly on programs to help people with low incomes. The research director for Change to Win says that there are up to 100,000,000 homes which could be improved.
  Opinion: First of all, I'm sceptical about that 100 million figure. With an average of 2.56 people per household (Census, 2007), and a population of 308,563,298 (US Census here and updated continuously), there are only 120.5 million households total in the US. Nevertheless, it is substantially larger than 150,000 that normally get upgraded. Avista provides energy efficiency rebates, so that's one incentive many people can take advantage of. I heard of a proposed program a couple years ago in which people could receive a loan in the amount of the upgrades, but rather than reduce the energy bill right away, the utility would pay back the loan with the reduction in energy costs. The benefits of reduced energy generation is felt immediately, and the cost of providing energy to the residence would eventually go down. Now you can add the benefit of putting people back to work during a recession. And, when the loan is repaid, it replenishes the pool for more upgrades. Hey, maybe Kiva could get involved--they need more people to lend to!


• Stimulus paves the way
  Source: The Spokesman-Review; January 7, 2010
  Summary: Spokane International Airport (GEG) got a rebuilt tarmac courtesy of $14 million of federal stimulus cash and otherwise-unemployed construction workers. According to Senator Patty Murray, a second stimulus bill is being considered. The airport's receipt of the stimulus funding will allow GEG to complete four years worth of projects in just two. TSA has brought in two canine teams which will be used throughout the airport, and full body scanners are on the way.
  Opinion: Accelerating capital projects often saves money because the increase in the cost of construction goes up faster than inflation. (That is a major argument to built light rail now, by the way: it's actually cheaper to build it and operate it than it is to wait until later.) And creating those jobs in a weak economy sure does help not only the construction workers, but also anyone he buys things from. Oh, and regarding the increased security measures...did I mention that you're 200 times more likely to be struck by lightning than be on a plane with someone intent on destroying it?


• Washington to get $590 million for high-speed rail improvements
  Source: The Seattle Times; January 27, 2010
  Summary: Federal stimulus funding will improve passenger rail travel times between Portland, Oregon, and Blaine, Washington, at the U.S.-Canadian border. Only 2 of 3 trips between Portland and Seattle are on time. These improvements are in the hopes of getting that up to 90%. The full corridor is Eugene to Vancouver, British Columbia. Five round trips run from Portland to Seattle each day. Washington and Oregon run Talgo trains capable of 125 miles per hour. Deficiencies in the track, street crossings, and congestion constrain them to only 79 mph.
  Opinion: These are important upgrades to our national infrastructure. The projects produce high wage jobs, support communities, and will be used to leverage private investment. All-in-all a much better investment of deficit dollars than giveaway tax breaks to the richest 1% of our nation.