Friday, May 26, 2017

Bend is the 6th Fastest-Growing City in the Nation

According to a new report by the US Census, Bend is the 6th fastest growing city in the nation. Bend's population has grown 4.9% since July 1, 2016, and now stands at 91,122. This is the second population boom in recent memory for Bend - the city's population doubled during the 1990s. Bend is one of the few cities on the Census's list that is not in the South, and no cities in the Northeast made the top 15. Bend's rapid growth has contributed to soaring housing prices in recent years. An urban growth boundary that remained unchanged since 1981 limited new supply in the area, and developers have only recently started bringing new product online. Read more.

Southern Cities Growing Quickly [Source: U.S. Census Bureau]

Wednesday, May 24, 2017

Tenant Shoots Apartment Managers in Portland

HB2004 prevents landlords from evicting dangerous tenants quickly—putting good tenants in jeopardy.


Tell the Oregon State Legislature to vote NO! Contact numbers and email addresses below...

Senate President Peter Courtney
503-986-1600
sen.petercourtney@oregonlegislature.gov

Senate Majority Leader Ginny Burdick
503-986-1700
Sen.GinnyBurdick@oregonlegislature.gov

Multifamily Marketwatch Podcast - May 24, 2017

This week: Portland's budget, school district levy, Oregon's robust economy, and where, oh where are the inclusionary zoning projects? We return after Memorial Day on June 6th.



Check out this episode!

Tuesday, May 23, 2017

Bureau of Planning and Sustainability Seeks Input for Better Housing by Design Project

The Portland Bureau of Planning and Sustainability will be hosting two open houses in June for community members to learn about and provide input on the draft code concept for the Better Housing by Design project. The open houses will be Thursday June 1, 5:30-7:30 pm, and Saturday June 3, 10 am-12 pm.

The Better Housing by Design (BHD) project aims to improve the design of multifamily housing outside of the central core of Portland. It covers all multi-dwelling zones (R3, R2, R1, and RH), and aims to strengthen requirements for outdoor spaces, encourage a range of housing that includes "missing middle" structures, and improve walkability. Bureau of Planning and Sustainability staff are expected to release the final Code Concept Report in the Summer of 2017. Read more.

Wednesday, May 17, 2017

Portland School Bond Passes, Adding to Portland Property Tax Bill

The $790 million Portland Public School (PPS) bond passed with 66% of the vote in Tuesday's special election. The bond will cost property owners $1.40 per $1,000 of assessed value for the first 4 years, and then will cost $0.68 per $1,000 of assessed value annually for 30 years. Portland homeowners are still paying for the 2012 PPS bond, which cost $1.10 per $1,000 for the first 8 years, and $0.30 per $1,000 annually for the next 12 years. In PPS bonds alone, Portland property owners will be paying $2.50 per $1,000 of assessed value for the next few years.

Supporters of the new PPS bond point out that Portland school buildings are 77 years old on average, and many have health and safety issues including high lead levels. The bond will provide the funding needed for projects such as improving water quality, removing asbestos and lead-based paint, improving fire alarm and sprinkler systems, and ADA/accessibility improvements. In addition, Benson, Madison, and Lincoln high schools and Kellogg middle school will be rebuilt and renovated. Read more.

Tuesday, May 16, 2017

Multifamily Marketwatch Podcast - May 16, 2017

This week: Portland Mayor says housing trumps need for parking; conflict continues in the Eastmoreland neighborhood and the Portland Development Commission is now Prosper Portland. Our podcast returns next Weds 5/24.



Check out this episode!

Multifamily Permit Applications Still Down, PHB Looking to Increase IZ Incentives

Since the City of Portland's Inclusionary Zoning (IZ) requirement went into effect February 1, the number of applications for multifamily permits has stalled. The Portland Tribune estimates that a valuation of $270 million worth of development could be eliminated by the IZ program. The Portland Housing Bureau claims that the slowdown in development is due to a softening of the market, a tariff on Canadian lumber, and increasing interest rates rather than the IZ program itself. The bureau is offering incentives to projects that were vested prior to February 1 in hopes of getting more affordable units built in the city. In January, the city received 20 permit applications valued at $74.7 million. Since February, there have been only 6 permit applications for developments with more than 20 units, the threshold for the IZ requirement. Four of those projects are being developed with assistance from PHB. Read more.