By allowing Right 2 Dream Too, city leaders undercut a proposed hotel project, developer David Gold claims.
BY JACOB PALMER | DIGITAL NEWS EDITOR
By allowing Right 2 Dream Too, city leaders undercut a proposed hotel project, developer David Gold claims.
He is suing Portland for $237,373.
Gold reached a deal in 2011 to buy the city-owned Grove Hotel from the Portland Development Commission and renovate it into an Asian-themed hostel. But the deal didn’t go forward and city leaders selected a new hotel project led by developer Bob Naito.
In the lawsuit, filed in Multnomah County Circuit Court, Gold’s attorney claims that Commissioner Dan Saltzman said the city would take enforcement action to remove the homeless camp and developers should proceed with due diligence to redevelop the property. But the suit claims that Commissioner Amanda Fritz or another city employee directed the Bureau of Development Services to abandon enforcement action.
(SOURCE: OregonLive.com)
The suit alleges the value of the project fell about $900,000.
In May 2014, PDC reached an agreement with a development team led by businessman Bob Naito to renovate the Grove Hotel into a 52-room boutique hotel with retail and commercial on the ground floor.
The project by Naito Development, Eagle Point Hotel Partners and Filament Hospitality requires $7.5 million in private investment. The team will buy the property from PDC for $630,000 was not seeking additional financial assistance.
(SOURCE: Portland Tribune)
