Portland’s City Council will meet Wednesday to consider a new mandatory parking requirement that, if it had existed for the last eight years, would have illegalized 23 percent of the new housing supply in northwest Portland during the period.
The Tess O’Brien Apartments, a 126-unit project that starts pre-leasing next week and will offer some of the cheapest new market-rate housing in northwest Portland, couldn’t have been built if they’d been required to have 42 on-site parking spaces, its developer said in an interview.
“Do the math,” Martin Kehoe of Portland LEEDS Living said Friday. “The apartments at the Tess O’Brien are between $1250 and $1400 a month. If we were required to build parking, you’d be between $1800 and $2000 a month. … It probably just wouldn’t have been built. And then what’s that going to do to the existing project that’s out there and has been built? It’s just going to drive the rents of those up.”