The New Economy's New Neighborhood; Money Magazine's Top Ranking Spotlights Growing Economic Importance of Livable Development.

Business/Lifestyle Editors

ORENCO STATION, Ore.--(BUSINESS WIRE)--Nov. 29, 2000

It used to be that traffic congestion and sprawl were the grudgingly accepted byproducts of prosperity.

No more. Now that prosperous New Economy workers can choose their neighborhoods, they-- and their companies-- are increasingly choosing places like Portland, Oregon, just named by Money Magazine the best place to live in the year 2000.

"Three decades of keen planning," says Money's editors, "have reined in urban sprawl and given rise to a mini-metropolis with short, easy-to-stroll blocks renowned for their java joints, brewpubs, and bookstores. A superb light rail network and a new streetcar system are helping to make it a cinch to get around."

A lot of high tech companies evidently agree. According to Money, the region ranks in the top 20 percent of all metro areas in recent job growth and is expected to see a 26 percent increase in the next decade.

Intel, the largest private employer, has a rapidly growing complex of campuses in the western suburb of Hillsboro, surrounded by dozens of other high tech companies. But this new "Silicon Forest" is no sprawling suburb, either. At Intel's doorstep is Orenco Station, one of the nation's most intriguing examples of a new wave of so-called "livable development."

Orenco Station, named for its light rail station at the former Oregon Nursery Company, features 1,800 cottages, apartments and townhomes, and a town center that includes three gourmet restaurants, an art gallery, wine shop, florist, dentist, optician, and the obligatory Starbucks.

It's all on walkable, tree-lined streets interspersed with stately parks. Above the town center shops are two-story lofts, and next door are brownstone-style "live/work" townhomes. Along the parks are cozy bungalows, rowhomes and condos. Everything is within easy walking distance of the town center and the light rail stop. From there, downtown Portland is a short light rail hop away.

It's a neighborhood designed with convenience and sanity in mind. And it's attracting attention-- from planners and architects, and from media around the world, including The New York Times, the CBS Evening News, NPR, USA Today, National Geographic, and many others. Orenco Station has also garnered a long list of national and regional awards, including Best Master Planned Community in America from the National Association of Home Builders. Planners say the community's strong success in the marketplace demonstrates that high tech amenities, old-fashioned walkable neighborhoods, and close-by shops and services can be a winning combination, and a promising alternative to suburban sprawl.

"I think we're building the home of the future here," says John Davis, an Orenco Station homeowner and entrepreneur. Davis' company is building a demonstration "smart home" at Orenco Station, to be featured in the 2001Consumer Electronics Show. Davis lives with his wife in one of Orenco Station's brownstone-style townhomes, where he has an office on the terrace below, and his wife has an art studio upstairs.

Intel also seems bullish on its Orenco Station neighborhood. The company is building a major new research and development campus north of the community, adding to its 12,000 employees already in the area.

Naveed Sherwani, General Manager of Intel's Microelectronics Group, says there will be more transferees to the area-- a lot more. The gridlock congestion, soaring costs and other livability problems of California's Silicon Valley are seriously affecting recruitment and retention, and employees of Intel and other high tech companies find the Orenco Station area's livability a big lure.

Naveed and his wife Sabahat live in a cottage on Orenco Station's Central Park, close to Naveed's job. Sabahat owns and operates Shalimar, a gourmet Indian restaurant in the Town Center. "We love it here," says Sabahat. "You have the feeling of being part of something special and that is very gratifying."

"No question about it, livability is becoming a major economic issue," says Davis. "The home of the future is going to be a smart home, but it needs a smart neighborhood too."