Better Housing by Design – Feasibility Analysis

Better Housing by Design – Feasibility Analysis

"This memorandum outlines the process, objectives, and findings of an analysis the City of Portland Bureau of Planning and Sustainability (BPS) engaged Economic & Planning Systems (EPS) to undertake regarding whether proposed density bonuses would create sufficient additional residual land value to compensate for newly-established regulatory requirements in Multi-Dwelling Unit zone districts."

Key findings

"For sale townhomes continue to be the most feasible development type in the lower density RM1 zone in inner neighborhoods due to market conditions."

"Rental stacked flat development types in the RM1 zone are feasible, especially in eastern neighborhoods where rents could support this development type over ownership townhomes."

"Larger multifamily ownership development types in the RM2 and RM3 demonstrate higher feasibility than rental buildings when the market can support this development type."

"The affordable housing density bonus in the RM2 and RM3 zones are marginally effective for rental development types that cross the threshold for compliance with the Inclusionary Housing (IH) program. Development in this product type could still be feasible depending on market conditions and supportable residual values."

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