Apartments on the rise? Applications for multifamily projects jump 86 percent in Oregon

Staff Reporter- Portland Business Journal

New federal data show an 86 percent jump in permit applications in Oregon for multifamily housing in the second quarter, another sign that banks and developers expect continued high demand for apartments.

The data was released Monday as part of the Federal Deposit Insurance Corp.’s quarterly state profile of Oregon.

Permits increased 19 percent in the same quarter last year and declined 25 percent in the first quarter this year.

The second-quarter jump followed a 25 percent jump in 2013 and a 58 percent jump in 2012.

Numerous companies are trying to capitalize on the strong demand for apartments. In August the apartment investment firm HFO Investment Real Estate said it had increased the size of its Portland office.

New apartment complexes also continue to spring up across the city.