HFO Multifamily Marketwatch for Oregon and SW Washington

This week: Chloe Eudaly's First Right of Refusal ordinance for renters would likely apply to all types of rental housing; Portland developers propose to build up to 2,500 units on Portland's waterfront, including 500 affordable units, in exchange for increased height limits.

This week: Portland Commissioner Chloe Eudaly wants to give tenants first right of refusal to buy apartment buildings before they hit the market, and Mayor Ted Wheeler will ask for an 18-month extension of Portland's housing emergency -- this time requiring agencies to figure out when to end it.

This week: The Tribune turns a spotlight to the City of Portland's dysfunction; hurricane disasters could result in a construction slowdown due to scarcity of workers and increasing materials costs; and six months in -- the inclusionary zoning requirement's impact on apartment construction applications in the City of Portland.

In an interview with HFO partner Greg Frick, Multifamily NW spokesman John McIsaac relates the bureaucratic difficulties facing developers in the City of Portland. Estimates are that 50,000 new apartments will be needed by 2030 to accommodate the nearly 100 people moving to the city every day.

This week: the Metro council considers new taxes to help pay for affordable housing outside the city limits of Portland; The U.S. Census reports Oregon's median household income rose 6.2% in 2016, after decades of trailing the rest of the United States.

This week: The Portland Unreinforced Masonry Policy Committee holds a final public meeting October 4th and then heads to City Council; Vacancy rates for studios and one-bedroom units are increasing; national economics professors argue that restrictive land use policies are adding drag to the national economy.

This week: lender to the rescue for Portland's pending seismic upgrade requirement? Cap rates continue to decline despite an increase in interest rates.

http://www.hfore.com/podcasts.aspx

In an interview with HFO partner Greg Frick, Portland attorney Andy Hahs discusses the 2017 legislative session and Portland's relocation assistance program, which is likely to be modified and extended this year by Portland's City Council.

This week: housing shortage to possibly worsen by 2030; developers underbuilding to avoid Portland IZ rules; Clark County tax appeals due 8/7.