A new citywide property tax reassessment is planned for 2025 to ensure property values more accurately reflect current market conditions. This effort, recommended by the City Council in 2021, aims to correct potential inequities in taxation that have emerged since the last revaluation.
Franklin Street Redesign
Portland has also hired a consulting firm to advance the long-awaited Franklin Street redesign. Nearly two decades in the making, the project seeks to transform the car-centric corridor into a more walkable and bike-friendly urban space. A key focus is reconnecting neighborhoods that were divided by the street’s earlier layout.
ReCode initiative
Another major milestone: Portland has completed its ReCode initiative—the first comprehensive overhaul of the city’s land use and zoning regulations in more than 50 years. Adopted in 2024, the updated code is designed to be more user-friendly and aligned with Portland’s 21st-century goals, including increasing affordable housing and supporting sustainable development.
Roux Institute
In East Bayside, Northeastern’s Roux Institute has broken ground on its new campus at the former B&M Baked Beans factory site. Focused on AI and life sciences, the institute anticipates growing to 3,500 students within five years. The $500 million project is slated for completion in 2027 and includes major waterfront improvements to enhance pedestrian and bike path access.
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About the Author: Michael
