Home Back Issues Nov/Dec 2012 Staying alive

Staying alive

| Print |  Email
Articles - Nov/Dec 2012
Monday, November 05, 2012
Article Index
Staying alive
Page 2
Page 3
Page 4
Page 5

Condos, apartments

1112 StayingAlive 05
The resort boom went bust in Central Oregon, but it’s slowly waking up. R&H Construction has been working at Black Butte Ranch outside of Sisters, where it built the Glaze Meadow recreation center.Moribund. Almost dead. Not even on the radar. It should come as no surprise that this is how builders describe the state of the condominium market. Hugely overbuilt during the real-estate boom, the condo market from Portland to Bend and beyond has remained largely dormant for the past few years as prospective buyers, spooked by the new age of lending requirements, turned toward rentals.

“We are still not at a stage where condos make any sense,” says Gerard Mildner, director for PSU’s Center for Real Estate.

In their stead is a rising tide of in-fill apartment projects. No fewer than 500 units were expected to be added to downtown Portland by the middle of this year, with more on the way. A proposed “superblock” project in the Lloyd District could add almost 800 more apartments and 50,000 square feet of retail space in four towers, and Zidell Marine Corporation has announced plans to develop 30 waterfront acres near Portland’s Ross Island with potentially everything from residential units to a corporate campus.

Steve Galash, vice president for R&H Construction Co., says a condo scenario similar to Portland’s has played out in Bend.

“Condos were going nuts. A lot of developers just made their projects pencil by adding a condo component,” he says. “Then they all kind of fell together. The result has been that the apartment market here, like in other places, is starting to get more popular.”

In Portland, at least, there is already concern that the apartment market has gotten too popular and that it may be headed the way of the condo tower.

“The apartment market has been in a bit of a boom over the past year or two,” says Kurt Schultz, a principal with SERA Architects, which has designed several apartment complexes in Portland. “But there are some who think we’re already at the peak of the market.”



 

More Articles

Kill the Meeting

November/December 2014
Wednesday, October 22, 2014
BY AMY MILSHTEIN

Meetings get a bad rap. A few local companies make them count.


Read more...

Political Clout

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

Businesses spend billions of dollars each year trying to influence political decision makers by piling money into campaigns.


Read more...

A Complex Portrait: Immigration, Jobs and the Economy

November/December 2014
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.


Read more...

The short list: 5 hot coffee shops for entrepreneurs

Contributed Blogs
Friday, November 14, 2014

CupojoeBY JESSICA RIDGWAY

Oregon entrepreneurs reveal their favorite caffeine hangouts.


Read more...

Gone Girl

News
Monday, September 29, 2014
roundup-logo-thumb-14BY LINDA BAKER | OB EDITOR

Wehby disappears, Kitzhaber fails to disclose and Seattle gets bike share before Portland.


Read more...

What I'm Reading

November/December 2014
Wednesday, October 22, 2014

Peter Lizotte at ACME Business Solutions and Roger Busse at Pacific Continental Bank share their favorite reads.


Read more...

The clean fuels opportunity

News
Monday, November 10, 2014
111014-dirtyfuel-thumbBY 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.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS