1) Amenities of the future! How are amenities changing the landscape of residential & multifamily investing and developing?
2) What cycle are we in? Are owners looking for higher cap rates in the midst of a cycle transition?
3) What are Portland’s emerging sub-markets?
4) Can Portland support additional growth? How is transit innovation impacting social and economic growth?
5) How is permitting impacting development in Portland?
525 SW Morrison
Portland, Oregon 97204
Ballroom: The Fashion & Design Ballroom, 6th Floor
Parking Information: Discounted Valet $27.00
SmartPark Garage: 620 SW 3rd Ave - Up to 4 Hrs $7.00
Kicking off 2018 one of the lingering questions surrounding Portland remains; can the city continue to grow and what are the impediments to growth?
Don’t get me wrong, every city has is shortcomings when it relates to stimulating development. Some cities don’t have the infrastructure and others simply aren’t offering the right incentives. In Portland, we have a mix of both. Jeff Smith, founder of J.T. Smith Companies, a well-known developer in Portland reflected to the Portland Tribune, “Portland's process is slower and more complicated than any other city we work in. It's a magnitude of difference…we cannot work in Portland. We cannot predict our costs.”
Time kills all deals, and sadly a prominent local developer is hedging his bets on this market. In time, maybe the structure can change, but we shall wait and see.
While local developers are skeptical for valid reasons, neighboring developers from cities such as L.A. are jumping into the Portland multifamily market. SoCal based developer Trion Partners has recently made a push with an optimistic outlook. Managing Partner Max Sharkansky goes on to say, “The Portland area is one of the strongest multifamily markets in the nation right now.” Trion’s push has been linked to strong local job growth and a shift towards Portland’s submarkets. They are looking to expand their market share, and we are confident other developers will join them.
Our aim for this program is to uncover the highs and lows of developing in Portland, examine the health of the multifamily market and discusses CRE trends and themes that will have a lasting impact on the community. Join Bisnow as we begin our 2018 events series!
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