Wednesday, August 24, 2016

Moving Forward: City of Portland Releases Draft Economic Analysis on Inclusionary Zoning

HFO-TV: Drs. Gerard Mildner and Mike Wilkerson on Portland's Affordable Housing Crisis

HFO partner Greg Frick discusses Portland's affordable housing crisis Gerard Mildner, Director of PSU's Center For Real Estate and Mike Wilkerson, economist with ECONorthwest.

Tuesday, August 23, 2016

National Apartment Association Completes 2016 Survey of Apartment Operating Income & Expenses

The NAA sponsored a survey of nearly 1 million apartments nationwide. The survey found that in order to guarantee success, relevance and competitive advantage, apartment owners and operators need to ensure they take the following steps:

  • Lock in long-term debt.
  • Consider the disposition of non-core assets and re-evaluate holdings in non-core locations.
  • Maximize brand differentiation.
  • Take steps to protect information from cyberattacks.
  • Continue to enhance the quality and array of resident services.
  • Take steps to know more about your residents.
  • Continue to upgrade and train exceptional talent.
  • Assure business continuity.
  • Deploy a robust social media strategy.
  • Adopt a long-term focus on investments, development and operations.

These findings are just a few of the many conclusions drawn from CEL & Associates, Inc. research and the recently completed National Apartment Association's 2016 Survey of Operating Income & Expenses in Rental Apartment Communities. The survey was conducted by Los Angeles-based CEL & Associates Inc., once again indicated that improving conditions for the rental housing market continue to be reflected in improvements to operating fundamentals.

Read a summary of the results here. Full copies of the report are available for purchase.

Amazon Locker Testing Service to Apartment Communities

Amazon Locker boldly entered the conventional apartment resident package delivery market in July by debuting its program at 37 Mark-Taylor Residential communities in the Phoenix market. Read more in this month's Units Magazine.

Tuesday, August 16, 2016

City of Portland Developing Mandatory Inclusionary Housing Program

The City of Portland's panel of experts meets again on August 23rd to review a feasibility analysis being finalized with a consultant team from DRA and ECONorthwest. 

The City plans to hold two meetings for its panel of housing experts to ask questions and submit comments. These meetings will be held Thursday, August 25th from 1-4pm and Tuesday, August 30th from 9am to noon at the City of Portland Housing Bureau office located at 421 SW 6th Avenue, Suite 500, Portland OR 97204.

The City of Portland's Panel of Housing Experts are:
  • Shannon Callahan – Office of Commissioner Saltzman
  • Matthew Tschabold – Portland Housing Bureau
  • Sarah Zahn – Portland Housing Advisory Commission, Gerding Edlen
  • Dike Dame – Portland Housing Advisory Commission, Williams and Dame Development
  • Dr. Lisa Bates – Portland State University
  • Dr. Ronald Lehr – KeyBanc Capital Markets Inc.
  • Amanda Saul – Enterprise Community Partners
  • Vivian Satterfield – OPAL PDX
  • Margaret Tallmadge – Coalition of Communities of Color, Portland Planning/Sustainability
  • Eric Cress – Urban Development + Partners
  • Greg Goodman – Downtown Development Group, Portland Business Alliance
  • Kira Cador – Rembold Companies
  • Nolan Lienhardt – ZGF, 1,000 Friends of Oregon

Monday, August 15, 2016

What We're Reading This Week: Yardi Matrix Article on "Portland's Promise"

Yardi Matrix reports that Portland's broad-based job growth and a constant influx of Millennials have propelled apartment rent increases to among the highest in the nation. Yardi projects rent growth at 8.8% for 2016. Click here to download the Portland Multifamily Summer 2016 Report.

Wednesday, August 10, 2016

Clark County Growth Management Plan May Lead to Housing Shortage

by: Steven Horenstein, Horenstein Law Group.

In a recent Vancouver Business Journal article, attorney Steven Horenstein writes extensively about the recently adopted 20-year growth management plan. He expresses his concerns that the plan "only provides for a medium level growth projection for a population increase to 562,000 by the year 2035. This translates into a population growth rate of something less than 2 percent. In reality, the current growth rate in our community is noticeably greater than 2 percent annually."

Horenstein goes on to note that ". . .our community is currently in the midst of a housing boom that will not produce enough housing units of various types to accommodate growth as it is actually occurring. If our current rate of growth continues, we may find that available land prices will increase and housing affordability will become problematic. This will make it difficult for those migrating here for jobs to find housing." Read more.

Tuesday, August 9, 2016

City of Portland Blows Timeline to Set Price For Affordable Housing Land

The Oregonian/Oregon Live reports that City of Portland housing officials have failed to meet a July, 2016 deadline set by the city council for determining the market price for acquiring affordable housing land on the city's South Waterfront.

Just last year, officials touted their plan to set a price by July, saying it was necessary to avoid running into problems acquiring land for affordable housing as happened in the Pearl District. Read more.