If you’ve tried to rent an apartment in Portland lately, you know how tough it is to find a place. Earlier this year, Portland had the lowest vacancy rate of any rental market in the country. The city’s current vacancy rate is still quite low at 2.37 percent. Even with all the condo developments that turned into rental units when the economy took a dive, there just don’t seem to be enough apartments for all the people looking to rent. Developer Bob Ball announced this week he intends to build a new apartment complex in the Pearl District.
The rental market isn’t the only bright spot on the ecomomic horizon. Holiday spending has been on the rise, leading to a rare moment of optimism among retailers locally and nationally.
Looking past the holiday season, the city of Milwaukie has an interesting economic development idea: baseball. Milwaukie hopes to bring a minor league team to town. City officials are seriously considering what it would take to build a stadium that would seat 4,000 fans and, perhaps, create new jobs as well as a new revenue stream for the city.
Would a baseball team in Milwaukie benefit you as a fan or a business person? Would you look for a job at a new stadium? Have you tried to find an apartment in Portland lately? What was your experience?
- Rob Smith: Editor of the Portland Business Journal