Quote:
Originally Posted by johnliu
Not quite soiling my undergarments, but very intrigued by towers of an interesting design in this location. Some vibes of Bosco Verticale?
Can anyone make some back of napkin estimates of whether and how this project will make sense financially, assuming 20% of 2,500 units are $1,000/month affordable housing. What rent would the other 80% have to be at? With the other development going on, will Portland be significantly oversupplied with high-end rental units? How much can rents weaken at the high-end, before the project will have to start cutting corners and all that cool stuff in the renderings goes away?
If rents at the high end are softening now, what will they be like when the next two years of projects are on the market.
I guess I'm asking how likely people think it is that, assuming the city council agrees to the heights, this project will get built in anything like the rendered form?
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I'm curious if anyone knows how rents are calculated for "affordable" housing, and "workforce" housing, and others. If they're committing to offering what amounts to subsidized housing, is the subsidy the delta between 80% income and 100% income? or, maybe simpler, will the rents equal 80% of the market rate units? where does the $1,000/mo figure come from?
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