Portland’s first ‘inclusionary housing’ buildings were just proposed in Sellwood
Portland For Everyone
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$55,000 in additional cost for a structured parking space adds $550 to the monthly rent, _not_ $320. Typically one dollar in monthly rent can support $100 in total project costs will posting a 7% return on project costs. A 7% return on project costs is two points above the typical 5% cap rate for an existing building full of tenants. You need that two point spread to cover the additional risk of entitlement,construction and lease up.

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