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Portland's Pause: Cooling Rents, Unspent Funds, and the Supply Hangover

HFO Multifamily Marketwatch

Release Date: 12/11/2025

When Vacant Does Not Mean Available show art When Vacant Does Not Mean Available

HFO Multifamily Marketwatch

Today we will be discussing a phrase that sounds like a riddle, but is turning into a real policy and finance problem for low income housing in Portland: "When vacant does not mean available".  

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Portland Housing Bonus Alignment Project show art Portland Housing Bonus Alignment Project

HFO Multifamily Marketwatch

This week we will be discussing the City of Portland's Housing Bonus Alignment Project. A code package aimed at multi-dwelling zones and commercial mixed-use zones outside the Central City. We are going to translate what is in it, what it means for underwriting, and why it is important to developers and owners. ***Final hearing is scheduled for March 12th, 2026 from 6:00 - 7: 00 PM***  

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HFO 2026 Investment Roundtable Highlights show art HFO 2026 Investment Roundtable Highlights

HFO Multifamily Marketwatch

Welcome to Multifamily Marketwatch. Today we’re bringing you highlights from our latest investor roundtable featuring four expert voices: Greg Frick on the Portland metro outlook, John W. Mitchell on the macroeconomic landscape, Matthew Dzbanek on capital markets and lending conditions, and Melissa Wall on the latest tax strategy updates impacting multifamily investors.

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Washington Focused Legislative and Economic Update show art Washington Focused Legislative and Economic Update

HFO Multifamily Marketwatch

Today’s episode is a Washington focused update. When policy, capital markets, and local zoning all move in the same season, it can either create opportunity or confusion. We break it all down and make sense of the current state of multifamily in the state of Washington.

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Oregon and National Multifamily Legislative Update for 2026 show art Oregon and National Multifamily Legislative Update for 2026

HFO Multifamily Marketwatch

Today’s episode is a regional round-up on legislation and events affecting Oregon multifamily and also a national curveball that’s showing up in leasing, staffing, and tenant behavior.

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Opportunity Zones 2.0 — The Rules Changed, and the Clock Still Matters show art Opportunity Zones 2.0 — The Rules Changed, and the Clock Still Matters

HFO Multifamily Marketwatch

Today we’re talking about Opportunity Zones. Specifically: the original program, the approaching 2026 tax moment, and the new “Opportunity Zone 2.0” era that’s about to reshape the map.

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HFO Interview with Anjalie Kolachalam, Policy Manager at Up for Growth show art HFO Interview with Anjalie Kolachalam, Policy Manager at Up for Growth

HFO Multifamily Marketwatch

Anjalie joined HFO’s Greg Frick to talk about housing underproduction, why the numbers might look slightly better, and what cities and the federal government can actually do to help.

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HFO Interview with Iain MacKenzie, Founder of Next Portland show art HFO Interview with Iain MacKenzie, Founder of Next Portland

HFO Multifamily Marketwatch

Today, we’re spotlighting a conversation between Greg Frick and Iain MacKenzie, founder of the Next Portland blog. If you were tracking apartment development in Portland anytime between 2014 and 2022, you probably used his site. The good news? Next Portland is coming back!

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HFO TV interviews Mark McMullen VP of Policy and Research at the Common Sense Institute of Oregon show art HFO TV interviews Mark McMullen VP of Policy and Research at the Common Sense Institute of Oregon

HFO Multifamily Marketwatch

In this HFO interview with Mark, we discuss why housing production is stalling, what’s driving Oregon’s population slowdown, and whether the state’s new condo rules will move the needle on housing production.

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Oregon and Southwest Washington Multifamily Update for 2026 show art Oregon and Southwest Washington Multifamily Update for 2026

HFO Multifamily Marketwatch

This week we’re tracking policy shifts, new state laws, and early signs of momentum in the multifamily market as we head into the new year.

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More Episodes

In this episode, we’re looking at a shifting landscape. Rents are cooling and vacancies are rising. Portland city hall just discovered it had $21 million it forgot to spend.