Wednesday, February 28, 2018
This 11-unit building was constructed in 2003. The seller reached out to HFO through its national advertising platform. The HFO team found that rents were significantly below market which meant any buyer would need to make a large down payment due to the low rents. Despite that fact, HFO began marketing the property in mid-July, immediately generating multiple offers. The property sold for $1.25 million.
Tuesday, February 27, 2018
Monday, February 26, 2018
Comments due March 19 to City of Portland on Proposed Changes to City's Multifamily Zoning Requirements
The plan calls for rezoning that:
- Better defines multifamily allowances to encourage affordable and diverse housing
- Includes outdoor spaces and green elements
- Outlines specific building design and scale items
- Includes specific requirements for East Portland.
This week: Seattle follows Portland's lead in the effort to require seismic retrofits for unreinforced masonry buildings; local developers come out against proposed inclusionary zoning rules for condo developments; the potential for a democratic supermajority in the Oregon legislature begins to take shape--can rent control be far behind?
Friday, February 23, 2018
Wednesday, February 21, 2018
Monday, February 19, 2018
This week: the Portland Bureau of Planning and Sustainability released a 12-month study of Portland's Inclusionary Housing requirement, recommending that the city modify the policy; the Portland Business Journal ranked the top 35 elementary schools in Oregon and SW Washington; and developers of low-income housing are trying to make up for funding shortfalls resulting from the corporate tax cut.
Oregonian Headline: "Apartment Construction Drying Up" Because of IZ Program; Portland Housing Bureau Responds Program is "Operating as Expected"
Thursday, February 15, 2018
Monday, February 12, 2018
This week: Jobs are up in Oregon and employment gains are expected across all industries in 2018; more than 3,500 people responded to the City of Portland's call for comments on the Residential Infill Project; Metro is planning for two upcoming bond measures for affordable housing and transportation projects.
Bureau of Planning and Sustainability: Development Pipeline Represents Just 18-24 Months of Potential Activity
Wednesday, February 7, 2018
Monday, February 5, 2018
Portland's Renter Confidence Survey: A's for Recreation and Transit; Low Marks for Commute and Affordability
This week: Portland mayor Ted Wheeler will introduce incentives next month in an attempt to offset the stagnant response to Portland's year-old inclusionary zoning requirement; Oregon companies go on a hiring spree; and apartment rents increased again last year with west coast cites leading the pack.