Overall our strategy is to increase housing opportunities to support jobs, maintain a competitive business climate, invest in our neighborhood infrastructure to support their growth and development, and keep a ready workforce for our targeted industries. Rethinking our own city organizations as our resources dwindle because of property tax limitations is essential if we are to meet tomorrow s challenges. Development and redevelopment in Portland today is more complex. It requires more creativity and ingenuity that ever. Standards are tougher.
Public concern is intense.
Markets are changing, costs are rising, and competition is fierce. The good news is that even as we lose corporate headquarters because of corporate restructuring and national mergers, the downtown continues to flourish. We will be adding close to 380,000 square feet of new retail development over the next two years. Allow me to share to examples of how things work in this city. A growing business district in Lloyd Center collaborated with its residential neighbors and with the city to achieve a goal of a three-fold increase in transit use by its employees.