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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.
Wednesday, October 22, 2014
BY JOE ROJAS-BURKE & KIM MOORE
Oregon Business reports on the visa squeeze, the skills gap and foreign-born residents who are revitalizing rural Oregon.
Thursday, December 18, 2014
BY JASON NORRIS | OB CONTRIBUTOR
The implosion of the energy complex: The best thing for low oil prices is low oil prices.
Thursday, December 04, 2014
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Nothing says startup culture like a ping pong table in the office, lounge or lobby.
Wednesday, November 26, 2014
BY NISHANT BHAJARIA | OP-ED CONTRIBUTOR
By now, anyone who knows about it has a position on President Obama’s executive order on immigration. The executive order is the outcome of failed attempts at getting a bill through the normal legislative process. Both Obama and his predecessor came close, but not close enough since the process broke down multiple times.
Thursday, November 13, 2014
BY RYAN CARSON | OP-ED CONTRIBUTOR
How do we skill up our future technology workforce in a smart way to take advantage of these high-paying jobs? The answer shouldn’t focus only on helping people get a bachelor’s degree.
Friday, November 14, 2014
BY JESSICA RIDGWAY
Oregon entrepreneurs reveal their favorite caffeine hangouts.
Monday, November 10, 2014
BY KIM MOORE | OB RESEARCH EDITOR
A market for low-carbon transportation fuels has a chance to flourish in Oregon if regulators adopt the second phase of the state’s Clean Fuels Program.
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