PORTLAND, Ore. (KOIN) — A 92-year-old home is being demolished by a developer in Eastmoreland and some community members are sad to see it go.

Kurt Krause, a longtime resident in Portland's Eastmoreland neighborhood, February 1, 2017 (KOIN)

The 1925 home on SE 29th Avenue is on a 10,000 square foot lot. Developer Vic Remmers with Everett Custom Homes plans to tear it down and build a two new homes in its place.

Many other old traditional homes have been torn down in Eastmoreland. Neighbors fear the character of the neighborhood will change with new homes being developed.

“I think it’s a tragedy. I think its a tragedy for the city and for the neighborhood,” Kurt Krause, a neighbor, tells KOIN 6 News.

Krause says if the city is interested in building more affordable housing, replacing a historic home with two million dollar homes does nothing to fix the issue.

“We are so angry with this happening with an expensive house that’s nicely tailored and historic,” Krause says.

There is an initiative among neighbors to create a historic district in Eastmoreland, but if it is approved by neighbors it won’t happen in time to prevent the legal demolition of this house.