Pearlies' dream: 30-story apartment bunkers
Fortunately, nobody's got that kind of money to play with any more, or else these people would be wrecking Portland even faster than they already are. Who says there's nothing good about this economy?
Gardner also worries about creating a jagged downtown skyline with an erratic scattering of taller buildings surrounded by more modest ones."It’s not a beautiful skyline," she said.
We have a beautiful airport, though, and several excellent moving companies. People who don't like Portland, and want everyone else to pay to remake it the way they want it, should avail themselves of those excellent resources.
| Posted at 10:45 AM | Permalink |
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Comments (4)
The linked article: provide comfortable living in less
space. Many studios will be around 450
square feet.
Ball said keeping units small is the key
to affordability, and it’s his goal to offer
rental rates a step below the competition,
starting at about $950 a month.
JK: WOW a whole 450 sq ft for $1000 per month!!
More proof that high density is very expensive.
Go by ($1.25/passenger-mile) streetcar!
Thanks
JK
Posted by jim karlock | January 27, 2012 1:29 PM
the economics of multifamily construction and operations mean that the owner makes more money per sf for the smallest unit possible. In a 3,000 sf space, there could be two 3-4-bedroom units, three 2-3 bedroom units, four 2-bedroom units or six studio units. Six units will make more money for the square footage than two to four of other sizes.
Families will always have difficulty finding apartment/condo housing in high-demand areas where rents are high because it is not in the owners' best interests to rent the space in larger chunks without a huge premium for the added space. But it's not all about making off with a huge profit. With construction costs up, land costs exorbitant, and system development fees running about $14K per unit, there is a real need to get every penny for rent that one can these days.
Blame the UGB, CoP development fees, market demand -- but small is in. Not because it's hip, but because it's more "affordable" than a larger unit in a less hip part of town. Hipsters cannot give up on being hip don'cha know? This attitude keeps the rents high, so I am not too sympathetic about inner city housing costing an arm and a let. Housing is affordable, just not there.
Posted by Nolo | January 27, 2012 2:11 PM
The thing many folks don't realize is that developers build to two different standards, depending upon whether the finished project is intended to be sold as condo space or rentals. Rental construction is less expensive.
So, when the condo market tanked, there were good opportunities to lease or rent high quality apartment space that was never intended to fall on the rental market.
Now, however, I'm sure the cheap construction and materials are back in the "made-to-rent" bunkers going up now.
Posted by NW Portlander | January 27, 2012 3:45 PM
$1000 a month for 450 to 500 square feet?
Good grief. That's very close to what I pay for 1300 square feet with 3 bedrooms, 2.5 baths, a yard, a two-car garage, and a view of the Coast range. On the other hand, we don't have a streetcar, and the bus service generally stinks.
So, about once a month or so I roll my car down the hill to the gas station to top up the tank (which costs around $15-$20).
I ain't feelin' the apartment/condo vibe. Really. Seems like they always brag on their views - well, I like the sunset view of the Coast range, and I tell ya, the Tualatin Valley really lights up every 4th of July. The front yard provides excellent viewing.
Posted by Max | January 27, 2012 6:23 PM