Tuesday, February 11, 2020

4th Qtr 2019: City of Portland Had 75% of Portland Metro Multifamily Units In Development Pipeline.

Using the highly recommended Berkadia apartment construction pipeline reports as a source I was able to take a closer look at the pipeline of Portland metro multifamily development for CY 2019.

The first graph I constructed below shows by quarter that the total count of MF units in development remained largely consistent during the year, with total units close to the 27,000 to 28,000 unit mark, and a range of 7,200 to 8,400 units either in construction or in lease up. 

The second table focuses in on the city location of MF Portland metro development for the 4th quarter of CY 2019. It shows that the City of Portland was capturing between 70% to 84% of MF development in various phases with an overall capture rate of 75%. 

Finally, the last table shows, for the 4th quarter, the neighborhood location of the City of Portland 20,934 multifamily units in development by phase. 

The Kerns/Buckman neighborhood (3,312 units total) had the largest share of City of Portland units under construction (22%/902 units) or in lease up (33%/548 units). Southwest Hills (4,133 units total) had the largest share of prospective (25%/1,622 units) or planned (29%/2,511 units) MF development.

Originally created and posted on the Oregon Housing Blog.

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