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|Articles - July 2011|
|Wednesday, June 22, 2011|
Since the mid 1990s, thousands of Oregonians — families, retirees, young adults — have forsaken the suburbs in favor of inner-city living. Now a new group, suburban homebuilders, are also jumping on the urban housing bandwagon. “People are moving here from Boston and New York and they don’t want to move to the suburbs, they want Portland,” says Randy Sebastian, president of Renaissance Homes, a Lake Oswego-based developer. “We were completely missing that market.”
Last fall, Sebastian moved out of his comfort zones in Wilsonville and Lake Oswego and built the first of what are now 30 “Vintage Collection” homes scattered around Portland neighborhoods. About 10 have sold for $350,000-$600,000.
Renaissance was badly bruised by the recession. In 2008, Sebastian was left holding 2,000 lots, plus 94 homes that eventually sold at auction for about $200,000 less than the original price. And Portland’s urban growth boundary restricts the amount of suburban land available for development, says Sebastian. “The best way for my business to survive is to look to the city.”
National homebuilder D.R. Horton appears to share that opinion. In May, the company broke ground on one of its first inner-city projects in the country: a “microhomes” development in Portland’s SE Division neighborhood. The 29 units range from a 364-square-foot studio to 687-square-foot detached home and will sell from the low to high $100,000s. The company has yet to release homes for sale.
The suburban housing migration mirrors efforts on the part of retailers such as WalMart and Home Depot to reconfigure their stores for the urban market, says Gerard Mildner, a professor of real estate at Portland State University. So how do homegrown Portland developers feel about the big-box competition? Their presence does re-enact a bit of the “local coffee shop vs. national coffee shop” dynamic, says Eli Spevak, a builder who specializes in the kind of small-scale community housing projects D.R. Horton is now pursuing.
But as a proponent of high-density, low-impact living, Spevak is not about to complain. “I wish there were more,” he says.
Thursday, May 29, 2014
BY JESSICA RIDGWAY
How the president of BlueVolt spends his free time.
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BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
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BY LINDA BAKER | OB EDITOR
Remember the naysayers? Those who called the South Waterfront aerial tram a boondoggle? Those who rejoiced at the massive sell off of luxury condos at the John Ross and Atwater Place?
Friday, May 30, 2014
Watch the 2014 100 Best Green Companies keynote speech by Eric Friedenwald-Fishman.
Thursday, May 29, 2014
I was in a rut. A few months ago, I was at my desk trying to come up with cover story ideas for our June “green” issue. But I was stuck on a concept that is a bit too tried and true in the magazine business.
Thursday, June 05, 2014
BY HANNAH WALLACE | OB BLOGGER
What does it take to launch and run one of these mobile food businesses?
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The CEO of Axiom EPM, Peri Pierone, and the co-founder of McMenamins, Mike McMenamin, share their recent reads.
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How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder Susan K. Eggum has been elected as vice chair of programs and projects for the International Association of Defense Counsel’s (IADC’s) Employment Law Committee.
Geffen Mesher is saddened to announce the passing of long-time shareholder, Tom “Mike” Anderson, who died on July 10, 2014, from liver disease diagnosed after recent heart surgery. He was 55 years old.
Fifteen Lane Powell attorneys have been named 2014 “Oregon Super Lawyers,” and another five attorneys have been named as “Oregon Rising Stars” by Super Lawyers magazine.