Portland housing panel floats looser rules for short-term rentals

Members of the City Council’s Housing Committee said rules for short-term rentals proposed by city staff were too restrictive and agreed during a meeting Wednesday night to pursue looser regulations for the popular accommodations.

The five committee members agreed in principle with a framework that would allow people to rent out their private homes and operate commercial short-term rentals in apartment buildings. The committee diverged on details, however, like whether there should be a cap on the number of short-term rentals per apartment building.

“I want to permit multi-unit building short-term rentals, but I want to limit it,” Committee Chairwoman Jill Duson said. She expects the committee to have a recommendation for the full council by its next meeting in the second week of November.

Portland is among a growing number of cities worldwide that have moved to reign in the rapid growth of short-term rentals of private properties offered through websites like

... read more at: http://www.pressherald.com/2016/10/26/portland-housing-committee-floats-looser-rules-for-short-term-rentals/

Pathfinder Closes Portland Sale – Multi

by Laura Calugar

Calico Townhomes in Portland

Calico Townhomes, Portland, Ore.

Portland, Ore.Pathfinder Partners LLC, a San Diego-based firm specializing in opportunistic real estate investments, recently sold Calico Townhomes for $4.1 million. Although the name of the buyer was not disclosed, the property was purchased by a Portland-based 1031-exchange client represented by Jack Stephens of HFO Investment Real Estate LLC. Pathfinder was represented by Cody Hagerman, also of HFO.

Located at 531 128th Ave. SE in Portland’s Mill Park neighborhood, Calico was built in 2008 as for-sale townhomes. In 2013, Pathfinder acquired the property that has been operating as a rental community. The three-story asset consists of 15 two-bedroom, three-and-one-half bath units and three three-bedroom, three-and-one-half bath units ranging from 2,000 to 2,450 square feet. Indoor amenities include private balconies, vaulted ceilings, hardwood flooring, granite countertops and stainless steel appliances. Several

... read more at: https://www.multihousingnews.com/post/pathfinder-closes-portland-sale/

Oregon Local News – Report: Portland’s popularity driving up rents

A new report confirms the conventional wisdom that the number of additional people moving to Portland from other cities is driving up rent costs.

But the Zillow online rental service and research organization says Portland is only sixth on the list of metropolitan areas with the highest share of renters who want to move to them.

And the Oct. 27 report also says Portland rents are going up because relatively few renters here want to leave.

“This influx of new renters is driving up Portland’s rent prices, because not only do a lot of people want to move there — not many people are moving away,” says Zillow.

The report found 29% of what it terms “active renters in Portland” are seeking to move here from another city. That’s a lot, but far

... read more at: http://portlandtribune.com/pt/9-news/329420-209182-report-portlands-popularity-driving-up-rents

Report: Portland’s popularity driving up rents

A new report confirms the conventional wisdom that the number of additional people moving to Portland from other cities is driving up rent costs.

But the Zillow online rental service and research organization says Portland is only sixth on the list of metropolitan areas with the highest share of renters who want to move to them.

And the Oct. 27 report also says Portland rents are going up because relatively few renters here want to leave.

“This influx of new renters is driving up Portland’s rent prices, because not only do a lot of people want to move there — not many people are moving away,” says Zillow.

The report found 29% of what it terms “active renters in Portland” are seeking to move here from another city. That’s a lot, but far

... read more at: http://portlandtribune.com/pt/9-news/329420-209182-report-portlands-popularity-driving-up-rents

Portland planners approve 7-unit condo development on Munjoy Hill

The Portland Planning Board gave the go-ahead on Tuesday for a new seven-unit development at 30 Merrill St. in the increasingly popular Munjoy Hill neighborhood.

The new building will replace an aging two-family home with seven studio units ranging from 750 to 900 square feet. Developer Tom Landry says the new units are intended to appeal to people willing to give up space for proximity to Portland’s many cultural offerings and an opportunity to live in a highly energy efficient development.

The two-family home at 30 Merrill St. is going to be knocked down and replaced with hyper efficient 7 unit condos. Brianna Soukup/Staff PhotographerThe two-family home at 30 Merrill St. is going to be knocked down and replaced with hyper efficient 7 unit condos. Brianna Soukup/Staff Photographer


photo-storephoto-store

“We’re not at net zero (energy consumption) but we’re getting

... read more at: http://www.pressherald.com/2016/10/26/portland-planning-board-approves-new-7-unit-condo-development-on-munjoy-hill/

Portland Planning Board approves new 7-unit condo development on Munjoy Hill

The Portland Planning Board gave the go-ahead on Tuesday for a new seven-unit development at 30 Merrill St. in the increasingly popular Munjoy Hill neighborhood.

The new building will replace an aging two-family home with seven studio units ranging from 750 to 900 square feet. Developer Tom Landry says the new units are intended to appeal to people willing to give up space for proximity to Portland’s many cultural offerings and an opportunity to live in a highly energy efficient development.

The two-family home at 30 Merrill St. is going to be knocked down and replaced with hyper efficient 7 unit condos. Brianna Soukup/Staff PhotographerThe two-family home at 30 Merrill St. is going to be knocked down and replaced with hyper efficient 7 unit condos. Brianna Soukup/Staff Photographer


photo-storephoto-store

“We’re not at net zero (energy consumption) but we’re getting

... read more at: http://www.pressherald.com/2016/10/26/portland-planning-board-approves-new-7-unit-condo-development-on-munjoy-hill/

Explosion reported in NW Portland; 8 injured, including 3 firefighters

Updated with developments from 4 p.m. news conference

A massive explosion, apparently ignited by a natural gas leak, ripped through a building Wednesday along the popular Northwest 23rd Avenue shopping district, causing destruction and injuring eight people, including three firefighters, authorities said.

NW Natural employees along with Portland firefighters responded to a natural gas leak reported at 8:55 a.m. in or near the 500 block of Northwest 23rd Ave., said spokeswoman Melissa Moore.

“When we got there (at 9:10 a.m.), we evacuated the building,” Moore said. “There was an ignition. We don’t know the source.”

The explosion happened at 9:38 am., the utility reported. Some witnesses said there were two blasts.

One building that contained a bagel shop, a tattoo parlor and eyewear business was destroyed, while a spa and condo building next-door sustained heavy damage.

Firefighters were inside one of the buildings when the explosion occurred, said Portland Fire Rescue spokesman Lt. Rich Chatman said.

... read more at: http://www.oregonlive.com/portland/index.ssf/2016/10/portland_firefighters_respondi_3.html

Take A Look Inside 15 Hudson Yards, Which Begins Condo Sales This Week

Take A Look Inside 15 Hudson Yards, Which Begins Condo Sales This Week

Condo sales at Related Cos and Oxford Properties15 Hudson Yards will finally begin this week. 

Designed by Diller Scofidio + Renfro and the Rockwell Group, the 285-unit tower will provide residents with Hudson River views, proximity to three parks (the High Line, Hudson River Park, and Hudson Park Boulevard) and plenty of retail, dining and transit. 

The Duplex Upper Penthouses on the 88th floor will each occupy one of the tower’s four lobes and offer more than 5k SF of living space, 26-foot-high ceilings, and curving floor-to-ceiling windows offering 270-degree river and city views.

Take A Look Inside 15 Hudson Yards, Which Begins Condo Sales This Week

The 910-foot tower’s distinctive

... read more at: https://www.bisnow.com/new-york/news/multifamily/15-hudson-yards-condo-sales-to-begin-this-week-find-out-what-you-can-get-65036

Wealthy Chinese buyers are a growing force in US real estate markets


While the influx of investment from China is lifting some markets, it is reshaping many others, real estate experts say. (Daniel Hertzberg/For The Washington Post)

After a long and painful slide following the real estate collapse in 2008, Seattle’s property market is enjoying one of the sharpest rises anywhere in the United States. Buoyed by a rapidly expanding economy that has brought tens of thousands of high-paying jobs to the city, real estate values have nearly doubled since 2009, according to the online real estate database Zillow.

Yet while technology billionaires gobble up estates from Puget Sound to Lake Washington, Jim Conlan, a real estate broker with Century 21 North Homes Realty in Seattle, says the real catalyst for the dramatic upswing can be found in China.

“To be honest, Chinese buyers have been flooding this market the past few years,” says

... read more at: https://www.washingtonpost.com/realestate/wealthy-chinese-buyers-are-a-growing-force-in-us-real-estate-markets/2016/10/13/15ab3cba-7441-11e6-8149-b8d05321db62_story.html