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Are prices dropping for condos in Portland?
Thursday, November 15, 2007 

Builders are dropping prices and offering incentives on their unsold inventory. They are even ready to negotiate on the prices of ready to move in condominiums and townhomes. Fed rate cuts are not really helping in selling the homes faster. 

The prices of  Arbor Parc townhomes in Bethany area are now staring from $229K instead of $280K a year and half ago.

Portland condo market:
Saturday, June 17, 2006 

It seems there is great demand for the new condominums in portland metro area. Today I went to the grand opening of Polygon homes, Tanasboune crossing condos. The first phase was sold out when I reached there. People were talking that they came to the condominium site at 5AM in the morning! Is Portland going to become like bay area or is it just a hype created by builders.

Another new townhome community is coming up in Bethany area. These townhomes are constructed by Arbor homes. The prices are starting from $280K. This is the base price without any upgrades. There are also the sales agent said that they are sold out and we will have to wait for the next release.

Living large in small spaces :
Saturday, February 18, 2006

Condominiums with less than 1,000 square feet are some of the hottest properties in Portland's new-home market, attracting a wide spectrum of buyers, from empty-nesters trading yardwork for travel to singles or couples trading space for luxury finishes and better neighborhoods.

A look at three new developments shows how the right combination of storage, visual continuity and neighborhood all work to create a "living large" feeling in a compact new home. Buyers at the 27-unit Andria Condominium at Southeast Belmont Street and 42nd Avenue range in age from early 20s to 80s, said Barbara Durrett, a broker with John L. Scott.

"They're practical -- they don't want yardwork and they're tired of the stuff that comes with a big home," Durrett said. Condo buyers still have "stuff," though, so Andria has large individual storage rooms in the basement, along with a special room for bike storage. All units except studios come with one covered parking space.

At Tanasbourne Place, a condominium project in Beaverton by Polygon Northwest, all the condos have small, attached garages. With a little planning and installation, owners can create extra storage space on the garage walls. In the one-bedroom Tanasbourne condos, a walk-in closet in the bedroom and a laundry room offer more nooks and crannies.

The laundry room is downsized to a washer/dryer closet in the two-bedroom models and the walk-in closet is a bit smaller, but the trade-off is one more bedroom and one more bath. "The attached garage is important for our buyers," said Elizabeth Chichavich, Polygon's on-site sales representative. "It makes the condo feel more like a traditional home, where you can put all your extra stuff out of sight." At Benson Tower, now being built on Southwest 11th Avenue in downtown Portland, underground parking is included and buyers may purchase garage storage space. They can even buy a spot in the wine storage area for their favorite vintages.

The Strand at RiverPlace :

Sunday, July 24, 2005

Buildings at The Strand at RiverPlace, featured in the July 10 Homes & Rentals cover story, "Waterfront condo wave," will be completed in phases between September 2006 and early 2007.  There are 11 properties found for The Strand At Riverplace - Under Construction - Now Selling. Completion of East Tower expected in summer of 2006. The Strand will be at Riverplace overlooking the marina and city. Three towers 11 to 13 stories, 212 units, 700 to 3,700sqft.

Waterfront condo wave :

Sunday, July 10, 2005
By JEFF KUECHLE 

On a long-vacant swath of former industrial land just south of the Marquam Bridge, three towers are rising from the banks of the Willamette River. 

The Meriwether, a two-tower complex, will house condominiums. The third is a new 16-story Oregon Health Sciences University health and research building. 

The allure of downtown waterfront living has sparked a buying frenzy at The Meriwether, as well as the half-dozen other major riverfront condominium projects currently or soon to be under construction. 

Hundreds of units are presold or reserved, at prices ranging from about $200,000 for a 650-square-foot studio to $4 million for a 5,000-square-foot penthouse. Of the 245 condo and townhouse units in The Meriwether -- due for completion in May 2006 -- 232 are presold. 

The paucity of buildable land downtown meant it was only a matter of time before the condo craze spread from the Pearl District to the waterfront. 

"Because of the West Hills and the river, Portland has a very well-defined downtown," said Homer Williams, whose firm, Williams & Dame Development, is co-developing The Meriwether, The John Ross, The Strand at RiverPlace and the as-yet-unnamed 21-story "Block 34," which will also house condos. "There was nowhere to go but up." 

And up they've gone. When completed in September 2007, the voluptuously curved John Ross tower will be 31 stories and 325 feet high, dwarfing the 21- and 23-story towers of the neighboring Meriwether. 

According to both Williams and Portland Design Commission chair Michael McCulloch, the waterfront condominium phenomenon is being driven by a combination of low interest rates, favorable demographics and new transportation infrastructure. High hopes for future appreciation also figure into the mix, fueled by articles such as a June 6 issue of National Real Estate Investor that predicted land values in South Waterfront will grow as much as fourfold over the next 20 years. 

"It's part of a long-term residential boom in close-in Portland," McCulloch said. "It's a combination of low interest rates, the belief that a downtown condo is a good investment, and the qualities and amenities of the downtown area. 

"There are a lot of couples in their mid-50s -- baby boomers -- who are downsizing and leaving Cleveland once and for all, moving to downtown Portland, and loving the conveniences and the culture they find there," he added. 

Roger and Caryl Gertenrich fit that profile, although they came to Oregon from Chicago, not Cleveland. He's a retired dentist and former mayor of Salem; she's a retired teacher. 

They did their downsizing four years ago, when they moved from their large family home in Salem to a condo at RiverPlace. Now they're awaiting completion of The Meriwether, where they've bought a 1,900-square-foot unit on the sixth floor. Move-in day is still a year away, but Caryl, 70, said she thinks it will be worth the wait. 

"When we were living at RiverPlace, we had a taste of living right downtown, and we loved it," she said. "We could walk places -- to restaurants, theaters, the symphony. Another big advantage for us is the health club just a couple of blocks away; keeping fit has become a major part of our lives. My husband still plays basketball, he also likes to fish. We enjoy city life. We'll also be able to take MAX to the airport because we like to travel." 

There are at least seven major waterfront condominium projects under construction or development along the Willamette River. Following is a roundup .

Riverscape

If you would like to live on the river (or riverfront) and would love to purchase your dream riverfront home today, then the Riverscape Condominiums in Portland, Oregon are perfect for you and your family.

Located in one of the city?s oldest and most historical neighbourhoods called the Pearl District, the Portland Riverscape Condos and luxury Portland Residences are now underway. With well designed and beautifully constructed real estate residential condominium towers, this modern condo development at the Portland Riverscape Condominiums and Portland residences provides an exciting alternative where you can claim a piece or riverfront Portland property today.

Just minutes away from central Portland downtown, and very close to local fine dining, boutique shopping and local conveniences, the Riverscape Portland condos and luxury Portland townhomes are located centrally so that you are living in a beautiful master-planned community of Riverscape Portland.

Portland Riverscape is an exciting new development along Portland?s Willamette River. The project features 12 city blocks on the waterfront next to The Pearl, one of the city?s oldest and most revered neighborhoods, where majestic landmark Portland buildings give historical balance to contemporary twenty-first century structures.

UPCOMING LOFTS, CONDOS CONDOMINIUMS AT PORTLAND

UPCOMING PORTLAND   EVENTS

        

Condos/Condominiums Low Yardage	Great Progress on Downtown Condos Project
New Condos For Sale In Los Angeles California	Flexible designs as fluid as modern life
New Downtown housing	Downtown Lake Oswego
A shiny new Portland	Condos saving old hotels in Livingston
High-rise condos would break limits	Stinson plan for More new condos
Harrison Condominium Project	Attic Gallery Locations for January 2007
Portland Mall on Construction	New Resort Condos Underway
Portland's streetcar success just a hoax	As luxury condos rise, demand hard to gauge
A 'green' light for condos, office towers	A 'Plague' of Condos
Flexible designs as fluid as modern life	California investor pays $39.7M for City Heights
Town homes available in Fisher's Landing	Condo-retail Wyatt rises in Pearl District