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“If they come, they will build it”

•Substantial in-migration, strong job growth, soaring rent and house prices, and now Inclusionary Zoning has contributed to a surge in multifamily development in Portland.

•In a recent study, Apartment List found that Portland spent $8.2 billion (real $) on multifamily construction
since 2000; the 19th most in the United States and on a per capita basis, the 4th highest of the 25 largest metros in the country.

•The almost 5,000 multifamily units added in 2017 translates into 16.4 new units built per 100 new residents to the city, the most in the 7 years since JLL began tracking Multifamily development in Portland.

•While multifamily construction is expected to top 5,500 units in 2018, the dramatic decrease in new multifamily permits applied for since the implementation of Inclusionary Housing in 2017 will cause a drop-off in new development starting in 2019. Between February 1, 2017 and February 1, 2018, only 17 projects totaling 1,007 units have applied for permitting, significantly less compared to other years, both pre- and post-recession.

Source: JLL Research, Axiometrics, US Census Bureau, Apartment List, COP Bureau of Planning & Sustainability

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