Summary
When David Crowe, chief economist for the National Association of Home Builders, visited Portland earlier this month to present the association's 2011 forecast, he brought little good news. But amid the predictions of sluggish residential growth, Crowe said one bright spot was emerging across the country, and especially in Portland: the apartment construction market.
In 2010, building permits were drawn for only 730 units through November; the year is on pace to be the slowest for multifamily construction in the Portland area since the 1970s. But Portland now has the nation's second lowest multifamily vacancy rate among major metropolitan areas. Mark Barry, a local expert on multifamily trends and forecasting, believes building permits next year will be drawn for nearly double the number of units.See the full content of this document
Extract
Portland Multifamily Projects in the Works
Following is a list of projects expected to start or make significant strides in the next year.
Southeast Harold Street and 92nd Avenue (92/H)Ed McNamara,...See the full content of this document
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