Tuesday, May 20, 2014

Concern Raised At Seattle Public Hearing on Micro-units

Now being nicknamed by some as "Apodments," Seattle's micro-housing review process is drawing concern from two points of viewthat design review should be either more lax, or more severe.

Monday, May 19, 2014

South Waterfront Neighbors Against New Development?

2006 Sketches of Portland's Ultimate South Waterfront
At left is the 2006 version of what the South Waterfront may ultimately look like.

The Business Journal reports current South Waterfront residents are criticizing proposed development plans for a 278-unit apartment building known as Block 37. They say it's too close to the Willamette River green way and encroaches into public view corridors, among other things. Read More. 

Officials Order Tighter Security at Apartment Construction Sites

Brian Gerritz, the president of Pavilion Construction, recalls standing last August across from the still-burning remains of the unfinished Monroe Apartments. He didn't yet know the five-alarm fire — one of the most memorable in Portland last year, though no one was hurt — was arson....

Read More at Oregon Live.

Saturday, May 17, 2014

Eugene's Riverwalk To Offer 466 Apartments in 10 Buildings Including Retail

This week the Register Guard reported on Eugene's newest apartment community current being built in phases in the Goodpasture/Delta Ponds area. Phase I will be completed this fall and Phase II is scheduled for completion in 2016.

Rents for the apartments start at $750 to $940 a month for 486-square-foot studio apartments and go up to $2,480 to $2,530 for 1,985-square-foot three-bedroom units.

Units have washers and dryers, patios or balconies, and are air-­conditioned. Interior finishes include plank flooring, cement tile countertops and back splashes, stainless steel appliances and hardwood cabinets.

Thursday, May 15, 2014

Keeping the Green Away: How To Keep That Pool Sparkling Blue This Summer

Summer will be here before you know it and you'll want residents and their guest have a great time in a pool that is safe and clean. There are three areas of consideration for keeping pool water clean, disinfected, and algae free. Read more. 

Wednesday, May 14, 2014

HFO Developer Conference Features Panel Discussion of Hambro Metal Framing

HFO's 2014 Developer Forum
HFO's second annual Developer Forum featured panelists representing the full spectrum of experts on the latest benefits of utilizing metal framing for new apartments.

After a brief discussion by each panel member on the use of metal framing in apartment construction from their perspective, the panel responded to questions from the audience. During the 40-minute Q & A session, audience members also shared previous experiences or future plans for use of metal framing. Co-sponsor Ted Stark of USI Insurance pleasantly surprised the audience with news that insurance for metal frame apartments is approximately two-thirds less than for wood structures.

The panelists were:

  • Wayne Armstrong, Developer
  • Josh Richards, Structural Engineer, KPFF
  • Chris Spurgin, Stack Architecture
  • Brian Gerritz, Pavilion Construction
  • Jakob Lepa, Canam (Hambro supplier) 

Tuesday, May 13, 2014

390-Unit Apartment Investment Property in Portland Oregon Area Sells for $51.25 Million

390-Unit Monterey Springs in Happy Valley, OR
Portland metro’s low apartment vacancy rate remains a draw for institutional apartment investors.

Portland, OR – HFO Investment Real Estate (HFO) has just sold the 390-unit Monterey Springs Apartments in Clackamas County for $51.25 million. Using its extensive network of national investors, HFO Investment Real Estate was able to source multiple apartment investors who recognized the excellent rent growth potential of the asset due to Portland’s excellent multifamily commercial real estate fundamentals.

Monterey Springs Apartments consists of 21 residential and two community buildings spanning nearly 12 acres near Clackamas Town Center. Apartments feature attractive living spaces and offer residents a long list of gated-community amenities. Monterey Springs’ special features include a private lake and water feature, a fitness center, covered parking, cyber cafĂ©, clubhouse and a year-round pool/spa just 20 minutes from downtown Portland.

The seller was a private equity group from the Midwest. The new owner is a California multi-family investment firm. HFO represented the parties in the transaction.

Will Renters Give Up Their Cars? Newer Apartments Have Little or No Parking

Last month, Northwest Portland's neighborhood association presented the city with a position paper asking that new apartment buildings be required to provide at least some off-street parking for residents.

Throughout Northwest Portland, 1,475 new apartments have been built in the last three years or are under construction, according to a survey by association board member Ron Walters. In the past two years, Walters says, only about a third to a quarter of those apartments have come with on-site parking. Read more

Thursday, May 8, 2014

New Wave of Real Estate Investment Sweeping Downtown Vancouver

A new wave of real estate investment is sweeping through the East Mill Plain entrance into downtown Vancouver as the market heats up for apartment sites just east of the interchange with Interstate 5.  Read More in this week's article in The Columbian

Wednesday, May 7, 2014

Oregon Hits Post-Recession Economic High

According to the economic wizards at the University of Oregon, the state's economy posted solid gains in March. The Oregon Measure of Economic Activity rose to 0.73 in March, compared to a revised 0.16 the previous month. As it currently stands, the March number is a new post-recession high. Click here to download the University of Oregon's Department of Economics Report.

Thursday, May 1, 2014

Plans for Goose Hollow Apartment Development Faces Some (But Not All) Neighbor Opposition

News outlets have been buzzing recently with neighborhood opposition to a plan by the Multnomah Athletic Club to expand its parking and build a seven story apartment building. While some neighbors have opposed the project, the Goose Hollow Neighborhood Association has not taken a position.

Read more about this developing story by clicking on the links below.

Portland Business Journal
April 30, 2014 - Goose Hollow Neighborhood Assn. votes 3 times, takes no position 
April 24, 2014 - Neighbors hire the law firm Garvey Schubert Barer to represent them

Oregonian Coverage
April 14 2014 - Neighbors form an LLC to fight the project
September 9, 2013 - Neighbors concerned about too much parking
March 27, 2013  - Nearby condo owners drop their opposition

The City of Portland has scheduled a hearing on a request to rezone the property for commercial use at 9 a.m. May 21st.