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

Portland rises

News
Monday, August 18, 2014

IMG 2551Portland is in the middle of another construction boom, with residential and office projects springing up downtown, in the Pearl and Old Town. OB Web Editor Jessica Ridgway documents the new wave.


Read more...

Interview: Dr. Mark Goulston

Contributed Blogs
Thursday, July 10, 2014
JustListenBY TOM COX | OB BLOGGER

Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.


Read more...

Green Endeavor cleans up

News
Wednesday, August 06, 2014
080614 ULnew greenendeavorBY LINDA BAKER | OB EDITOR

Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.


Read more...

OB Video: Dress for Success

News
Wednesday, July 02, 2014
DFSOBY JESSICA RIDGWAY | OB WEB EDITOR

Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.


Read more...

Trends in business succession

News
Thursday, July 03, 2014
TrendsBY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS

The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.


Read more...

Podcast: Interview with Steve Balzac

Contributed Blogs
Tuesday, August 19, 2014

082014BalzacBY TOM COX | OB BLOGGER

Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."


Read more...

The Scott Kveton affair

News
Wednesday, July 09, 2014
ScottKvetonBY LINDA BAKER | OB EDITOR

Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.


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