Meet The Wealthy Investors Buying Cheap Portland Apartment Buildings


Twenty-five children live at the Normandy apartment complex in Portland's Cully neighborhood where a new landlord has issued 100 percent rent increases.

Twenty-five children live at the Normandy apartment complex in Portland’s Cully neighborhood where a new landlord has issued 100 percent rent increases.

Amelia Templeton/OPB

Landlords packed Portland City Hall last week to testify against a new city policy requiring property owners to pay relocation costs when they raise rents by more than 10 percent in a year or evict people without cause.

One by one, the landlords described themselves as caring local business owners with small scale investments in a duplex or a few one-bedroom apartments.

“I don’t have a rent over $650,” said Kelly Gossin, a man with a ponytail and a hat reminiscent

... read more at: http://www.opb.org/news/article/portland-oregon-gentrification-real-estate-investors-property-apartments-affordable-housing/