investor index 8.22.25
Portland Public Works Adjusts Permit Review Schedule, Could Impact Development Timelines
Portland’s Public Works Permitting team announced that, effective immediately, it will scale back project review meetings—limiting them to pre-concept reviews, complex projects, or those expressly requested by the project manager or applicant team—to better manage staff workload and resources. Once applicants submit the initial fee payment and complete the ProjectDox task, a meeting is slated to occur about one to two weeks after concept or design review ends; however, due to staffing constraints, this could stretch to four weeks. The adjustment calls for applicants to be especially prepared prior to submission, as the change may introduce longer waiting times and requires strategic planning to avoid project delays.
Full Article: https://hoodline.com/2025/08/portland-public-works-adjusts-permit-review-schedule-could-impact-development-timelines/
FEWER PEOPLE ARE MOVING AND IT’S AFFECTING CRE
Americans are relocating at historically low rates—just 7.8% changed residences in 2023, the lowest mobility level since 1948, according to Census Bureau data—driven by high housing prices, low mortgage rates, job uncertainty, and soaring living costs. Across generations, movement has declined significantly: Generation X dropped from 23.9% moving in 2005 to just 8.3% in 2023; Millennials fell from a peak of 27.1% in 2014 to 16.7% in 2023; Boomers and younger cohorts similarly showed reduced mobility. This sustained low mobility is reshaping the commercial real estate (CRE) landscape—dampening relocation-driven demand and impacting sectors that rely on movement and turnover for growth.
Full Article: https://www.globest.com/2025/08/18/fewer-people-are-moving-and-its-affecting-cre/
Modular Construction Hits 9% Of Multifamily Starts — And That's Just The Beginning
Developers are ramping up the use of modular construction in multifamily housing, with the approach reaching approximately 9% of new multifamily project starts as of now. The Modular Building Institute forecasts this segment will grow from $7.1 billion in 2024 to $11.3 billion by 2029, reflecting a robust annual growth rate of 4.7%. Manufacturers like Resia are leading innovations: for instance, their facility in Georgia produces standardized kitchens and bathrooms for use in projects such as Miami’s Golden Glades apartments, demonstrating cost-efficiency and improved quality control via robotics. In Michigan, Ginosko Modular’s indoor production methods mitigate weather-related delays, driving down costs to roughly $73 per square foot—about half that of traditional construction—while others like Greystar report benefits such as 40% faster project timelines, 90% less waste, and 10% cost reductions. Despite this momentum, the industry still faces skepticism due to high-profile failures like Katerra; nevertheless, companies like Resia are serving as pioneers to prove modular can work, with plans to supply modular components to other developers starting in 2026.