Saw this old advertisement on the Urban League building at N Williams and Russell (below the graffiti). Now that the old Sloans tavern building was demolished for forthcoming development.
I wonder how old that is? Building is 1911. Was in car so couldn’t inspect closer. I love that old stuff.
Warren Buffett Bets on Portland with $88 Million Apartment Purchase
The Oracle of Omaha sees value in Stumptown.
By Anthony Effinger July 15, 2025 11:07PM PDT
Quote:
Who’s crazy enough to buy an apartment building in Portland, where renter protections are among the toughest in the nation and many city councilors are skeptical about capitalism?
Warren Buffett, the billionaire Oracle of Omaha, that’s who. An entity controlled by Buffett’s Berkshire Hathaway conglomerate paid $88 million for the 265-unit Peloton Apartments on North Williams Avenue between North Mason and Skidmore streets on June 16, according to public records.
Including the Peloton, Berkshire Hathaway owns three apartment buildings in Portland, according to its website.
Buffett, 94, made his fortune by purchasing assets at bargain prices. His investment mantra is “Be fearful when others are greedy and be greedy only when others are fearful.”
Renter demand is showing strong recovery after a 103% quarterly and a 13.9% increase from last year. The metro’s occupancy rate rose 70 basis points from the previous quarter to 95.6%. This is a 1.4% increase year-over-year, according to the report.
Warren Buffett Bets on Portland with $88 Million Apartment Purchase
The Oracle of Omaha sees value in Stumptown.
By Anthony Effinger July 15, 2025 11:07PM PDT
I totally misread this, I thought he bought an $88 million apartment in Portland and was confused why he would pay that much for an apartment here.
WW flubbed this one, and they've corrected the linked article. It's Berkshire Residential based in Boston. No connection to the other one. Doesn't suprise me the headline is also confusing.
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make paradise, tear up a parking lot
WW flubbed this one, and they've corrected the linked article. It's Berkshire Residential based in Boston. No connection to the other one. Doesn't suprise me the headline is also confusing.
For half of that you could buy big pink and you'd still have a healthy budget leftover to remodel a few floors into your sky mansion.
From what I've heard, it has to do with soil conditions. Collegiate tracks have very precise requirements, and due to soil action, they're having an exceptionally hard time getting it level. It's not impossible, just very expensive, which requires donors and fundraising.
Albina church receives $3M boost for veteran affordable housing development
Portland’s oldest Black church is looking to build affordable housing in place of its North Portland worship building.
The First African Methodist Episcopal Zion Church will tear down its building at 4304 N. Vancouver Ave. to make room for a 44-building with affordable housing dedicated to veterans and their families. The new building would have a smaller sanctuary and other services.
The church has partnered with L.A.-based Logos Faith Development, a social impact real estate firm and Vancouver-based Access Architecture Firm on the development, which was first announced in 2023.
“I am thankful that my team and I can play a role in supporting Pastor (Dennis) Payne and First AME Zion Church’s vision and mission to empower the local community and provide fantastic housing for veterans,” Pastor Martin Porter, founder and CEO of Logos Faith Development, said in a statement. “This has truly been a great partnership, and I look forward to what’s to come.”
Interesting zoning change taking place in St. Johns
Quote:
The applicant requests a Zoning Map Amendment to change the properties’ base zoning from General Employment 1 (EG1) to Commercial Mixed-Use 3 (CM3) in compliance with the City’s Comprehensive Plan land use designation. The proposal also includes adding a Design Overlay Zone (‘d’) consistent with the characteristics of the zone outlined in 33.130.030.D. No physical development is proposed at this time.
Quote:
The proposed Zoning Map Amendment is consistent with the 2035 Comprehensive Plan and the proposed designations are the most appropriate of the designations which correspond to the Comprehensive Plan Map. Public services are available for future development that could occur under the new zoning designations. Therefore, staff recommends approval of the proposal.
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