The latest news of interest to multifamily housing investors in Oregon and Washington.
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Friday, March 23, 2018
Eudaly Changes her Vote, City Council Okays Riverplace Height Increases
Two weeks after a preliminary vote against increasing height limits to 325 feet in the Riverplace neighborhood to allow the possible development of over 2,600 new apartment units, the Portland City Council has reversed course and approved the height increases. Commissioner Eudaly changed her vote, explaining that while she likes the idea of a step-down in theory, she does not believe it has created a "vibrant waterfront" in Portland. The City Council is requiring NBP Capital, the local development company that requested the height increases, to go through a master planning process that would give the city more input on what is ultimately built. Currently, the plan calls for two skyscrapers designed by Kengo Kuma, which could include up to 500 units of affordable housing through the inclusionary zoning requirement. Read more.