The Oregonian reported that voters approved a $652.8 million bond for affordable housing in the Portland metro area and a constitutional amendment which will allow funds to be leveraged with private money and federal tax credits.
The Daily Journal of Commerce reported on the demolition* of one of the old Oregonian publishing buildings, which is making way for Canvas at the Press Blocks.
The Oregonian took a look inside one of the units at The Carson in Slabtown.
The last structural beam has been lifted to the top of the new Multnomah County Central Courthouse, reports the Oregonian.
The Beatrice Morrow, an affordable housing development targeted to displaced residents of NE Portland, has opened on NE Martin Luther King Jr Blvd.
The Portland Diamond Project has withdrawn their offer for the Portland Public Schools Site, to clear the way for the Albina Vision. The group says they will announce a preferred location for an MLB stadium site by end of the month.
Eater Portland took a look at the menus for the Radisson Red’s Ouibar and Kitchen, which will be located in the Broadway Tower.
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The Carson is leasing at $1300 for 398 square feet. Who are these people willing to put up with that price? $2000 for 698 square feet? Seriously?
You could buy a $400,000 house and, rent out a room, and come out ahead.
Fantastic question. What kind of idiot pays that price?
I guess rich people like to rent and donate their money like that
Probably foreign nationals. As we’ve seen with the marketing tactics of 2020 PDX, (selling a large portion of units to only Asian investors), it has been made obvious these developers don’t care about the natives that make the city as cool as it is. It’s all a dollar sign to them and when that dries up, they’ll move to the next “hip” city. When are we going to start showing these rats we don’t want their inflated prices and alienating buildings in our communities? If we can’t, we’ll begin losing our talent to cheaper living towns, and you’ll be living in “affordable housing.”
Yeah and with private hands digging into the new bond money I can only imagine how tiny of apartment cells the developers will offer as affordable housing. The buildings are starting to remind me of the “modern housing slums” seen in travels around the world. We will see how “affordable” and the quality of space will be in a year of two.
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I’m no fan of ever increasing prices but new construction and associated taxes are not free and the price reflects that. While I hate comparison arguments, the fact is that Portland rents are still cheaper than most other cities.
As someone that owns an old Portland house…here are things you have to take care of: landscaping, property taxes…replacing items like water heaters/furnaces. All this is baked into the rent someone pays.
Essentially, it’s an apples and oranges comparison of renting vs owning. There are many reasons to rent vs own (tying up money when it could be invested, not planning on staying permanently, the need for very little square footage, etc). In addition the comparison of an old house vs new construction apartment building is ridiculous as well.