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Developer tells Scappoose council market study supports flexible commercial rezoning for Parker Quarry
Summary
Romano Capital presented a market study recommending an expanded-commercial designation for the Parker Quarry site to allow retail, housing and flex industrial uses; presenters estimated near-term demand for about 200 multifamily units and roughly 12,000 sq ft of retail absorption per year, and outlined a master-plan process expected to take about 29 months.
Romano Capital representatives told the Scappoose City Council on Dec. 15 that a market study supports rezoning the Parker Quarry site to an expanded-commercial designation that would give the city maximum flexibility to deliver retail, housing and supporting services as the community grows.
Greg McGreevy, vice president for development at Romano Capital, said the study found Scappoose's market is undersupplied in retail and multifamily housing. "On the low end, you could absorb somewhere around 12,000 square foot of retail on an annual basis over the next 10 years," McGreevy said, and he estimated immediate multifamily demand "somewhere around 200 units" with a site capacity of roughly "2 to 300 units max in the next 5 to 10 years." He added, "This is not a site that you're gonna see…
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