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Updated over 6 years ago,

User Stats

112
Posts
142
Votes
Paige Kelsey
  • Rental Property Investor
  • Vancouver, WA
142
Votes |
112
Posts

Is Looking to Create Communal Spaces for Multifamily a Good Idea?

Paige Kelsey
  • Rental Property Investor
  • Vancouver, WA
Posted

Is Looking to Create Communal Spaces for Multifamily a Good Idea?

Small lots, zoning craziness and insane rents and housing prices has lead developers and investors to some super creative stuff here in the Portland area. One example given and do keep in mind, I will for sure get the exact numbers wrong but it was interesting either way. Soo imagine a singe family home on a lot zoned r2. Apparently that means that because of the sq footage of the lot you could build 3 units +.5. In Portland, apparently we round up so that now means 4 separate houses. Yes, it seems like some loop holes were found for sure. But stay with me. They are keeping the single family home and on each of the 3 surrounding homes sites they are building a   7 bed room "home"essentially en room suites, with a shared kitchen. This will amount to a total living space of 7 units x4 houses=28 suites with shared kitchens in each home. The large house, the original will not be torn down and will offer a larger shared kitchen living area where everyone from all four houses could technically gather. Square footage is prioritized in the shared spaces and each suite will be under 200 sq ft of actual living space. This will be done in partnership with Open Door. 

More about that the partnership. The developer is leasing the entire property to Open Door for a promised floor of revenue or rents received. A minimum of rents received was established   between the developer and Open Door to ensure units were actually being leased up. Units are to be rented for about 900 a month.  

Good news since lots are pretty expensive you do get to keep and use the existing house as part of the overall plan. This should save some  money although I swear after taking a 1890's home down to the studs I do think it can be cheaper to scrape.

This left me with a ton of  questions...... Coming from the commercial side of things where everyone thought open offices would be amazing idea I wonder about how space will actually be used? I wonder about the overall effects on parking? I wonder what will need to be done for noise dampening?  Most of all, I wonder is PDX BECOMING THE TOKYO OF OLD? POD HOUSING, in the Pacific Northwest, who's in?    

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