Willamette University researchers are testing whether the residential properties in Pinefield and Willowbrook condominium complexes are really the same as the commercial and commercial-grade condominium properties in Willowbrook.
In a paper that was published on April 15, they find no evidence of such a transaction.
The researchers also note that they did not test the commercial-quality residential properties that the developers have said they plan to build, which have been built at a loss in part because of the foreclosure crisis.
“It is unlikely that the commercial condominium units will be sold, given that they are a substantial portion of the overall development of the Willowborough complex,” the researchers write.
In the paper, researchers from the university’s Institute for Urban Studies and the University of Washington also report that they have collected more than 10,000 signatures on a petition asking the county to allow the construction of the new residential condominium development in Willowham to begin.
The study is the latest effort to find evidence that developers have misrepresented residential properties to buyers in their development efforts.
In September, a group of real estate agents filed a lawsuit against developers of the Pinebrook condo project, claiming they had misled buyers about the residential and commercial properties they planned to build.
The Pinebrook project was approved in November.
But the lawsuit, which was filed by the Real Estate Council of Greater Portland and the Pine Brook Properties, claims that the residential property, which has a market value of $5.5 million, is worth less than $1 million.
The developers are asking the judge to allow them to build the project on public land and to allow all residential property to be sold.
The lawsuit alleges that the development violates the Oregon Constitution, the Oregon Fair Housing Act and other laws.
In response, a judge ruled that the developer had to provide a detailed explanation of the development plans to buyers, including what it would look like.
The judge also ordered the developer to conduct a review of the project.
The project, which is now under review, will be subject to a variance for the use of public lands.
The University of Oregon is also pursuing the lawsuit.
In October, the state of Oregon rejected the Pineridge developers’ proposal to build a $3.6 billion project in the neighborhood, which includes four commercial properties and a high-end residential property.