PORTLAND, Ore. (AP) — A venture capitalist has opted to sell his recently purchased northwest Portland home to neighbors instead of demolishing it.
Kevin Rose is a general partner for Google Ventures.
Earlier this year, he paid $1.3 million for a house built in 1892. He initially planned to renovate the old place. When that proved costly, he decided to tear it down and build a 5,900-square-foot home with a modern design.
That outraged neighbors who didn’t want the historic home demolished. An online petition to save the home garnered 3,000 signatures, but demolition was expected to start this week.
On Tuesday, Rose agreed to sell the home for $1.375 million. He said in a statement that he and his wife did not want an adversarial relationship with their neighbors and new city friends.
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