The latest news of interest to multifamily housing investors in Oregon and Washington.
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Monday, November 5, 2018
Portland's $100 Million School Bond Overrun Raises Questions for School Board
In August, the Portland Tribune reported that the $790 million PPS bond approved by district voters is unlikely to cover the costs of the planned school renovations. According to the Tribune, professional cost estimator Rider Levett Bucknall (RLB) had projected the costs were likely to end up between $894.7 million and $1.06 billion. School board chair Rita Moore says she does not know why the district informed voters that it would cost $790 million, but in January 2017 a poll found that a majority of voters would support a school bond measure priced between $750 and $850 million. Read more.