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  #221  
Old Posted Apr 20, 2017, 10:22 PM
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Originally Posted by maccoinnich View Post
A couple pages back we discussed the drought in new condo construction. Well: it's finally over. Two medium scale buildings recently came on the market, both with one bedrooms below $300k. One faces Overlook Park, and the other is in Sellwood.
Were these buildings supposed to be apartments? With the potential glut of apartments at the high end, it would be smart for some developers to turn their units into condos rather than keep them as apartments. A comeback for condos...sort of?
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  #222  
Old Posted Apr 21, 2017, 6:50 AM
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$500 sqft for $300k.
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  #223  
Old Posted Apr 21, 2017, 6:57 AM
zilfondel zilfondel is offline
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http://portlandtribune.com/but/239-n...-at-open-house

Quote:
Everett Custom Homes premieres new Modern Homes Collection at open house

summary:

1) Woodstock modern homes sell immediately for $700k+ (Woodstock!?!)

2) He wants to start developing row/townhomes that start at $300k
--------------------------------

Are we finally going to see a shift towards smaller townhomes to support the middle class? My wife and I spent almost half a year looking for a starter home, had to leave Portland as there is nothing habitable for under $400k in this city. We are both professionals.
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  #224  
Old Posted Apr 22, 2017, 5:22 AM
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Originally Posted by zilfondel View Post
http://portlandtribune.com/but/239-n...-at-open-house



--------------------------------

Are we finally going to see a shift towards smaller townhomes to support the middle class? My wife and I spent almost half a year looking for a starter home, had to leave Portland as there is nothing habitable for under $400k in this city. We are both professionals.
That is such a sad reality for Portland. My wife and I aren't ready yet to buy, but we want to end up in Milwaukie, but even then we are concerned if we will be able to buy in Milwaukie. Our fall back to keep us in the Willamette valley would be Salem since the housing costs there are much more realistic, like what Portland use to be.
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  #225  
Old Posted Jul 17, 2017, 1:24 AM
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21 cranes, 15 hotels, 10,000 jobs: Inside Oregon's development spree
Updated on July 16, 2017 at 11:06 AM Posted on July 16, 2017 at 7:03 AM
By Jeff Manning jmanning@oregonian.com
The Oregonian/OregonLive
By Jeff Manning and Anna Marum

http://www.oregonlive.com/business/i...tion_boom.html

Quote:
John Killin pressed the panic button in February amid a multibillion-dollar tsunami of real estate development.

The building frenzy that lit up the Portland-area economy and changed the city irrevocably has depleted the pool of skilled construction workers. In a letter to fellow contractors, Killin warned of a "new normal" of chronic labor shortages.

"There are probably 10,000 open jobs out there," said Killin, executive director of the Associated Wall and Ceiling Contractors of Oregon and Southwest Washington. "We need 800 carpenters, we need about the same number of electricians. And there are 20 more trades."

Nearly a decade after the Great Recession, the long and frustratingly slow recovery has morphed into a barrage of development that by some measures surpasses the mid-2000s housing bubble. The city issued nearly 12,000 buildings permits through the first 10 months of its current fiscal year for a record $2.5 billion in projects, easily eclipsing the previous high of $1.9 billion set the year before.

Interviews with dozens of developers, construction company executives and union officials reveal a boom that includes all real estate categories, from high-end apartments in Portland's urban core to enormous data centers in the eastern Oregon desert. Fueled by strong in-migration and job growth, Portland should remain red-hot in the near-term, they predict.

...(continues)...
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  #226  
Old Posted Jul 17, 2017, 4:18 AM
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Meh and still we can't even get 1 tower over 30 stories
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  #227  
Old Posted Jul 17, 2017, 4:34 AM
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Originally Posted by innovativethinking View Post
Meh and still we can't even get 1 tower over 30 stories
We must be getting pretty close to the tipping point where the economics will make a lot of sense and we'll see bunch of them. 30-35 stories will be the new 15-20 stories.
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  #228  
Old Posted Jul 17, 2017, 11:44 PM
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Originally Posted by innovativethinking View Post
Meh and still we can't even get 1 tower over 30 stories
A quick trip up to Seattle will get you plenty of that, if tall buildings is what you crave. The types of buildings Portland is getting works for Portland.
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  #229  
Old Posted Jul 18, 2017, 12:03 AM
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Meh and still we can't even get 1 tower over 30 stories
Looking out my office window I can see 2 buildings over 30 floors. I'm pretty sure there are a few more towers that tall when looking out the window on the opposite end of my office too.
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  #230  
Old Posted Jul 18, 2017, 1:16 AM
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Originally Posted by urbanlife View Post
The types of buildings Portland is getting works for Portland.
THIS.

When it makes financial sense for developers to build tall, they build tall. You keep complaining and saying silly things like "They're too scared to build taller!" Come on now. When it makes financial sense for developers to build tall, they build tall.

I'm guessing you're in high school and have an interest in architecture. That's great! I'd strongly recommend studying things like urban planning, business and economics. And when you graduate high school, consider moving to a city that comes closer to being what you want. I don't mean that in a snarky way at all. I spent too many years living in places I didn't want to be. When I moved to Portland in the late 90s, it instantly felt like a home because I'd chosen what I wanted rather than complaining endlessly about places that could never be what I wanted.

When it makes financial sense for developers to build tall, they build tall. Developers aren't conspiring against us to avoid height and they're not chickening out or anything silly like that. They're in business. When it makes financial sense for developers to build tall, they build tall.
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  #231  
Old Posted Jul 18, 2017, 2:22 AM
innovativethinking innovativethinking is offline
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Originally Posted by 2oh1 View Post
THIS.

When it makes financial sense for developers to build tall, they build tall. You keep complaining and saying silly things like "They're too scared to build taller!" Come on now. When it makes financial sense for developers to build tall, they build tall.

I'm guessing you're in high school and have an interest in architecture. That's great! I'd strongly recommend studying things like urban planning, business and economics. And when you graduate high school, consider moving to a city that comes closer to being what you want. I don't mean that in a snarky way at all. I spent too many years living in places I didn't want to be. When I moved to Portland in the late 90s, it instantly felt like a home because I'd chosen what I wanted rather than complaining endlessly about places that could never be what I wanted.

When it makes financial sense for developers to build tall, they build tall. Developers aren't conspiring against us to avoid height and they're not chickening out or anything silly like that. They're in business. When it makes financial sense for developers to build tall, they build tall.
No im a grown adult thank you very much. Also I was born and raised in the heart of the city of Portland which has now been gentrified. Which I don't mind at all my family and I were fortunate enough to work hard all our lives no we see the benefits of rising property values.

It seems like your the actual newbie to my beautiful city. Welcome. All I want is more southwater front tall towers they originally built. It can still be Portland enough to make everybody happy. You keep saying financial sense. Have you read these reports on the economy here? It's booming. If not now when? It's a legitimate question
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  #232  
Old Posted Jul 18, 2017, 6:26 AM
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Originally Posted by innovativethinking View Post
No im a grown adult thank you very much. Also I was born and raised in the heart of the city of Portland which has now been gentrified. Which I don't mind at all my family and I were fortunate enough to work hard all our lives no we see the benefits of rising property values.

It seems like your the actual newbie to my beautiful city. Welcome. All I want is more southwater front tall towers they originally built. It can still be Portland enough to make everybody happy. You keep saying financial sense. Have you read these reports on the economy here? It's booming. If not now when? It's a legitimate question
I wouldn't call someone a newbie to Portland if they moved here in the 90s....

Just because the economy is booming now, doesn't mean it will be booming in 3-5 years, and when a developer is investing millions, they want to make sure it is going to pay out for them. So yes, it is purely financial, you aren't going to see developers take a risk that could bankrupt them if it isn't necessary.

I would love a 750ft tower in downtown Portland, but I don't have the funds to build something like that, nor can I expect a developer to take a risk like that if they don't feel it is right. So of course you want to see a bunch of 30+ towers going up all over Portland, but that doesn't mean developers want to take the risk to pay for that.
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  #233  
Old Posted Jul 18, 2017, 7:28 AM
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Originally Posted by innovativethinking View Post
It seems like your the actual newbie to my beautiful city.
I've been here nearly 20 years.

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Originally Posted by innovativethinking View Post
You keep saying financial sense. Have you read these reports on the economy here? It's booming. If not now when? It's a legitimate question
It's a legitimate question with zero thought.

Do you understand how complicated the process of getting something built is? Think about it logically. Pick a lot that should be redeveloped. How about the parking lot block at SW 10th & Washington.

Seriously. Put some thought into what it would take to get a tower built there. Think about what it would take to buy the block. Think of something that would make financial sense to build - something that would turn enough of a profit to make the project worthwhile. Think about the process of finding funding to build it. Think about the process of getting approved whatever the firm you hired designed. Think about the fact that height increases costs. Are you building apartments? Height increases the cost to rent them. Condos? Height increases the cost to buy them. What's the market like at those price points? Yeah, yeah, we all know Portland is facing a housing crunch, but high end units are having trouble leasing because that's not where the demand is. So, maybe 50 stories of apartments or condos won't pencil out. How about a hotel? Please. We're seeing so many hotels go up right now that by the time your project even breaks down the market could be saturated. Fine. Maybe you'll build an office tower. Height increases the cost you'll have to lease at. What's the market like for high end office space? What about ground floor retail? What's the market like? What has you convinced you can lease the space at the prices you'll need to ask when we've already got plenty of available retail spaces available? Can you get financing from banks to build it?

I've only scratched the surface here.

Think about how much time all of that planning and construction will take, and then think about how we've got a yellow haired orange spray tanned maniac in the white house. How can anyone even begin to guess what will happen if/when he gets impeached? ...or what happens to the economy if he doesn't? What if he tries to get us into a war with North Korea? What would THAT do to the economy? What if the Syria situation turns ugly? What if Trump gets us into a trade war with China? Good grief, man, there are so many variables, any of which could crater the economy enough to bring a project to a standstill. You DO remember the years when PAW was stalled as a hole in the ground, right? You think there weren't costs incurred during the standstill?

I've only scratched the surface here.

Saying developers are "chicken" or that Portland doesn't like whatever the heck it is you dream of shows a total lack of understanding of the bare bones basics.

Are you aware that we've got a shortage of labor to even build right now? Sky3 on Jefferson is over a decade late and it's still not done. So many other projects completely fell through. Most have been forgotten. The Delano was one I really wanted to see happen. Nope.

The idea that Portland doesn't like tall and that developers are chicken... it's a middle school understanding of the way the world works, which is why I assumed you're a kid.
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