IRR-Portland Mid-Year Viewpoint 2015 Local Market Report - Multifamily
Following a 2013 change in parking regulations for urban multifamily projects, financial feasibility issues have forced developers to increase the size of proposed projects in order to maintain financial feasibility. That, combined with increasing incoming capital from other wet-coast markets, especially Seattle and San Francisco, have increased the average new project to over 150 units as opposed to the plethora of 30-60 unit projects we saw in 2013 and 2014.
The largest proposed project, in the Lloyd District, will include over 1,000 units. Additional Alphabet District redevelopment at the ConWay blocks, north Pearl District, and South Waterfront will add substantial new supply over the coming years.
Download the full version PDF of this Local Market Report below to see the charts, graphs, and tables not included above.
IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.