Thursday, January 30, 2014

Portland Metro 2013 Apartment Permits Highest in 16 Years

The U.S. Census Department reports that 2013 multifamily permits in Portland topped 5,700 - the highest since 7,205 were permitted in 1997.


281 More Apartment Units Coming to South Waterfront

The Portland South Waterfront will soon be home to an additional six-story 281-unit apartment building. This latest community will be developed by a Los Angeles-based company.  The building will six on 1.67-acres and is slated to have 250 parking spaces. More in today's Oregonian and in the Portland Business Journal. Elliot Njus of the Oregonian reports numerous other developers are seeking permits.

Thursday, January 23, 2014

Wednesday, January 22, 2014

Get Ready Apartment Owners: Portland Water/Sewer Rates Likely To Increase 5% (Again) In 2014

The Oregonian reported today that although the City Council doesn't formally vote on a rate increase until May.  Last year, water/sewer bills increased 4.8% last year, and this year's target is 5% or less.

Meanwhile, Portlanders for Water Reform have submitted a signed initiative petition stripping utility oversight from the City Council. It will likely be up for a vote in May.

Read more. 

Portland International Airport Sets All-Time Passenger Record

The Port of Portland has announced that PDX has set an all-time passenger record, another indication of improving economic activity. Read more. 

Monday, January 20, 2014

HFO-TV: Composting is Now Available to Multifamily Properties in the City of Portland

Want to add composting to your multifamily recycling options? If you're in the Portland city limits, you can! 

 


Greg Frick celebrates following HFO annual roundtable event


Greg Frick dons the honorary Siesta Bowl
It was a busy week here at the HFO ranch the second week of January! The team kicked off its 15th year in business with a little fiesta! 

Monday, January 13, 2014

Five Predictions for 2014 from the National Real Estate Investor

NREI has five predictions for 2014 for Commercial Real Estate.  And they expect things to be looking pretty good over the coming year. . .

Here they are.

  1. Economic growth will accelerate;
  2. Interest rates will increase;
  3. New construction will remain muted, which is good for the supply-demand equation;
  4. Investment in commercial real estate will increase; and
  5. Fixed income investments will rotate into commercial real estate to take advantage of good yields.

Thursday, January 2, 2014

2013: Portland Beats SF and Seattle For Rent Growth

Nationally, apartment occupancy stands at 95 percent with rent growth at 2.8 percent annually.*

New apartment supply spiked a bit the last three months of the year, for a total of 163,155 new units added. Calendar year absorption stood at 155,491. New supply is not resulting in net move-outs at existing properties -- so far.

"Middle market properties are in the sweet spot for overall performance right now," according to Greg Willett, VP of research. "Only a handful of units are available in that product niche across most metros."

For 2013, Portland placed ahead of San Francisco and Seattle for Annual Rent Growth

Read more. 

*Results of 7 million apartment units tracked by MPF Research.