03-17-2006, 09:40 AM
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#1 (permalink)
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-PREMIUM MEMBER-
Join Date: Dec 2002
Location: Atlanta
Posts: 10,833
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There's Certainly Not Enough Local Money To Be A Potential Blazers' Owner...
.....if there's not even enough to purchase a local historic mansion. 
From: Bloomberg
Quote:
March 17 (Bloomberg) -- A 1927 Tudor revival mansion built by one of the first American lumber barons is on the market for $2.35 million in Portland, Oregon, boasting leaded-glass windows and a closet for silverware.
What it lacks is a buyer.
The 10,000-square-foot (930-square-meter) home was built by Thomas J. Autzen, who made his fortune pioneering the manufacture and sale of plywood to the U.S. construction industry. He used his own invention for shelves in the house's map room.
A steal in almost any other West Coast market, the Autzen place hasn't sold even with its pedigree. The Portland-based Autzen Foundation supports education and the arts, and the stadium at the University of Oregon bears the Autzen name. The problem, says Jerry Johnson, a real estate economist, is a lack of local wealth.
``It's pretty rarified air for Portland,'' says Johnson, of Johnson Gardner LLC, a Portland-based consulting firm to property developers. ``There aren't that many buyers in that range.''.....
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Notably...
Quote:
The owners, Gregg Miller and his wife Christine Howell- Miller bought the house for $875,000 in 1999 from Steve Johnson, who played for the National Basketball Association's Portland Trail Blazers from 1986 to 1989.
The Millers have spent more than $500,000 restoring the place, which was in some disrepair when they bought it, says Gregg Miller. They rebuilt the chimneys, which were leaking, stripped the oak woodwork in the dining room, and repaired all the leaded-glass windows.
``It was pretty rough,'' says Miller, 57.....
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