Developers who have historically built many of the multifamily buildings in Portland are now saying the regulatory environment in the city is keeping projects from penciling out. An unusually high number of projects, particularly large projects in the central city, have received design review approval but not moved forward with building permit applications. The developers warn that the projected returns are too low for investors, and the city is likely to see a significant slowdown in the production of new units in 2020 and 2021.
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