R5 Development in Portland | Getting Creative

[Taj T.]

Hi BP Community,

I just recently purchased a property in Portland, and am looking to get some advice on getting creative with development of the property, as its a bit of a unique situation.  

Property details: R5 zoning, 5700 sq ft lot, 2 bed 1 bath 750 sq ft home (plus attached garage) currently on lot, corner lot with a more than half of the property being bare land well-situated for development on corner lot.  The property is in Mt Scott-Arleta area, situated right in between two R2 zones, and fairly close to FOPO. 

Development ideas: the ultimate goal will be to keep the current home on the property and build on the bare land on the property. I'm wondering if anyone has any experience with this fairly unique situation? I'm interested in converting the existing home into an ADU with the city as it's under 800 sq ft, and building a primary residence on the bare land. With the new residential infill rules coming out around corner lots and multis in R5 zones, I'm also interested in the prospect of building a small 2 unit on the bare land, but this may be a stretch to get approved with the city. The city has also told me that I can look into spot-zoning if I would like to apply for the zoning being changed to R2, but with no guarantee that it'll be approved.

Anyways, any thoughts and experience shared would be much appreciated!  I'm also interested in sitting down with developers who have experience in this area to discuss the future development process. 

Thanks!

Taj