Nearby Hotel Being Built Next to Condo in Portland Oregon

[Aaron Holloway]

Hi everyone, I have a condo in Portland, Oregon in the pearl district in PDX. A new hotel is being built that will take up my entire block except for my condo unit. Quick questions. Has anyone experienced any cons or negative impacts to their investment with a nearby hotel being built (Except for the construction)? Lastly and most importantly, anyone have any experience with negotiating a license/usage agreement with a nearby hotel to use their amenities (gym, parking) for the benefit of their tenants? Is this feasible? What are the possible fees you've seen for these fees? Is it better to negotiate this for my individual unit or ask my HOA to negotiate on behalf of the entire building? I hope to use this use agreement to either make my property more appealing or as a separate revenue stream. Really appreciate your help.

[Neal Collins]

@Aaron Holloway I wouldn't be worried about a hotel negatively affecting your condo value in the Pearl unless all of a sudden multiple neighbors of yours in the building start to sell their condos at low prices. I'd also think that getting your HOA to propose a deal would be more attractive than just one individual unit. I'd help them present it as a potential income stream for the hotel with minimal impact on the hotel's operations.