Multifamily Development Pipeline Dries Up In Response to New City Zoning Requirements

The Daily Journal of Commerce [subscription required] reports that Portland architectural firms are now running completely out of design work for multifamily projects.

According to local developers and architects, the development pipeline is drying up in response to City of Portland Inclusionary Zoning requirements that took effect February 1st. Although the 14,000 units currently in the pipeline will keep developers and construction crews busy for the next couple of years, any additional activity may come to a screeching halt as developers say the regulations mean their projects simply cannot pencil out.

Stay tuned.