Portland's New Home Construction & Infill
Notice any demolition, remodeling or new construction in your neighborhood? Portland is getting a facelift and it’s happening all over town! On a national level new construction building was up 17 percent this fall from 2011 levels. Housing is on track to be a major leader in our nations economic recovery. With every new construction comes on average 3 jobs for a year and $90,000 of tax revenue. In October, builders pulled more permits than any October in the last 4 years.
Locally we were thrilled to see Habitat for Humanity at the top of the list as their busy year with 55 new single family permits pulled in Portland City limits put them at the top. Renaissance Custom Homes continues to gain ground with 44 new construction permits up from 29 last year. Everett Custom Homes dropped one spot to 3rd with 37. Clearly as the market softened, construction slowed, but what’s interesting is the transition some builders have made to be successful in the real estate market today. Renaissance has undergone quite a change over the last few years. Nearly 3 decades ago the company began as an infill builder, but grew to specialize in subdivisions. Two years ago they returned to their roots and have been infilling Portland’s close-in neighborhoods with sustainable new homes since.
In 2011 the City of Portland approved 410 single family home and 287 demolition permits. The correlation makes evident the fact that dilapidated housing is being replaced by new construction. At the same time, 1751 remodeling permits attribute to the housing overhaul of Portland homes.