Oregon Housing Council Scrutinizes Construction Costs for Affordable Units
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Tina Kotek appointed members to the Oregon Housing Stability Council. One new member, Ed McNamara, is a retired Portland developer who has begun challenging the cost of housing projects funded by the state agency, Oregon Housing and Community Services. The agency has failed to meet its cost efficiency standard for affordable apartment construction for the past three years.
From nrtoday.com
Why it matters
The state agency's construction costs averaged $318 a square foot last year, which was 31% above the agency’s benchmark. Since every dollar over the target cannot be spent on building more units, the new scrutiny could impact the state's ability to meet its housing goals.
From nrtoday.com
Who's involved
- Tina KotekGovernor of Oregon who appointed members to the housing council.
- Ed McNamaraRetired Portland developer who joined the council and is challenging project costs.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- OregonSpeculative
The state might see changes in the cost and funding allocation for affordable housing construction projects.
Keep exploring
The entities involved
-
Tina Kotek
Governor of Oregon since 2021
-
Ed McNamara
college basketball player (1969–1971) Georgetown
Nothing else this week.