Economy & Housing
Only by working together can we all progress together.
The city cannot be its best without a diverse workforce and thriving businesses. We need to provide ample affordable housing for all families to live, which leads to better communities, businesses and overall economy. City government can assist with these issues by allowing streamlined processes and reducing tax burdens to attract small business.
Only by working together can we all progress together.
Our Plan
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Establish ongoing communications with the city of Portland regarding the link between a healthy housing market and the economy.
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Promote a faster, streamlined process for developers to obtain permits.
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Consider making the design review process advisory.
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Consider forming two different commissions: one for planning and development and the other for sustainability and the environment.
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Work to reduce barriers i.e., tax burden.
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Promote economic development and business retention.
By April 2022, Portland had regained about nine out of 10 jobs that were lost in the pandemic recession.
Resources
Housing Regulatory Reform
A recent report from CBRE put the Downtown Portland office vacancy rate at 28.4 percentwith total availability (i.e., vacancy plus available subleases) at a staggering 32.9 percent.Unfortunately, these numbers don’t tell the whole story. In addition, office brokers believe that underutilized space (i.e., space a tenant currently pays for but does not actively use) could be another 10 percent of all office square footage.
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"Stop the Bleeding" Panel Discussion
"Stop the Bleeding" Panel Discussion on What’s Holding Back Portland’s Recovery. A panel of local experts discuss the serious economic issues facing Portland & how to address them. Panelists addressed current market conditions in the downtown Portland market, the slow pace of permitting in Portland, and the impact of high tax rates on the local economy.
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Comparison of Residential Permitting Trends
Among other details, this report notes: "Portland was responsible for issuing over 72%of all the multi-family permits among the observed markets."
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