91视频

Tiffany Sweitzer has built in Portland more than 2,000 housing units, including the luxury Cosmopolitan condos in the Pearl District.

But now Sweitzer’s development company, Hoyt Street Properties, will not build more condos in Portland’s Central City, she said, unless changes are made to the city’s inclusionary housing program.

鈥淲ith the latest inclusionary zoning constraints, we will probably sell our remaining land or build office (space) instead,鈥� she said.

A year after inclusionary housing rules took effect, they are being reviewed by the Portland Housing Bureau. The rules for condos are the first part of a comprehensive reassessment of inclusionary housing, which took effect Feb. 1, 2017.

鈥淲e’ll look at what changes are needed to make sure the inclusionary housing program is effective, because the more units that are built, the more inclusionary units we get,鈥� said Matthew Tschabold, policy and equity manager for the Housing Bureau.

Mayor Ted Wheeler has made building affordable housing a priority during his administration to address Portland’s self-declared housing crisis. In December, he shook up the Housing Bureau, replacing Director Kurt Creager with Shannon Callahan, a city policy analyst who is serving as interim director.

The inclusionary housing program has dramatically affected the multifamily pipeline. Developers rushed to submit applications for projects before the effective date, putting 19,000 units into the pipeline. But the amount of work for architects who design multifamily projects has since dwindled.

Among rental proposals, 23 projects totaling 1,083 units have moved into the permitting process. Of those, 730 units come from the private sector, with the Housing Bureau responsible for the rest.

The flow of condo projects has already slowed to a trickle. Since Feb. 1, 2017, only one application for a condo project 鈥� totaling 15 units 鈥� has been submitted for land-use approval, according to the Housing Bureau.

The condo rule changes are expected to take effect March 20. Prior to that, the Housing Bureau will take public comment at a Feb. 21 staff hearing.

The draft changes outlined by the Housing Bureau set restrictions on the resale of inclusionary housing condos. The bureau is given first right of refusal on purchasing units. Refinancing is tied to the restricted resale value of a unit set by the Housing Bureau.

Other rules require condos be maintained as a primary residence, be purchased by a first-time homebuyer and not be operated for purposes such as vacation rentals. Cash purchases of inclusionary housing condos would be barred. And units must be maintained under affordability rules even if they are converted from condos to apartments or vice versa.

Taken together, the rules would spook lenders, making financing for condominium projects difficult, Sweitzer said.

鈥淚t looks like condo construction is stopped in its tracks 鈥� and it will be with us,鈥� she said. 鈥淲e will be done under rules like these with building condos.鈥�

Sweitzer said she was disappointed she was not asked to weigh in on the draft rules.

鈥淚’ve built over 2,000 housing units, and I have not talked to the city of Portland, the Housing Bureau or anyone else working on the rules, which is just incredible,鈥� she said.

The draft rules revisions allow for more flexibility, Tschabold said. For example, if a condo owner is unable to sell for 12 months within the program guidelines, the income restrictions on sales would be loosened. A buyer with 100 percent of Portland’s median family income could purchase a condo set aside for buyers at 60 percent of median family income, and a buyer with 120 percent of median family income could purchase a unit set aside for buyers at 80 percent of median family income.

鈥淲e’ll do whatever we can to help facilitate linking a buyer and seller,鈥� Tschabold said.

Even after inclusionary housing rules took effect, the Housing Bureau permitted approximately 5,000 units 鈥� about the annual average in recent years, Tschabold said.

A forthcoming report from the Bureau of Planning and Sustainability analyzing inclusionary housing’s first year is expected to add fuel to the debate.

The Housing Bureau has been working with Oregon LOCUS, a trade group for developers, to devise incentives for developers who applied before inclusionary housing rules took effect to opt into providing affordable units. Mike Kingsella, executive director of Oregon LOCUS, did not return messages seeking comment.

The incentives will look similar to the Housing Bureau’s old Multiple-Unit Limited Tax Exemption (MULTE) program, Tschabold said, offering tax breaks in return for affordable units.