The
Daily Journal of Commerce reports today on data received from the Portland Bureau of Development Services. The DJC submitted a public records request for information on the number of permits for apartment and condo projects with three or more units between 2010 and 2019. The numbers indicate that after increasing by 44% between 2016-2017--when the City implemented its inclusionary housing requirements--the number of permits fell by 18.45% between 2017 and 2018 and fell another 5.2% between 2018 and 2019.
Experts tell HFO research that the number of multifamily permits is expected to fall again in 2020 despite ongoing in-migration to the area. Developers cite increasing expenses and obstacles to development as a major part of the problem.
The DJC provides the numbers they obtained here in this story.
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