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~ ~ ~ ~ ~ ~ ~ r ~ <br /> <br /> / ~ / ~ ~ i ~ ~ ' ~ ~ ) ~ % ~ / ~ ~ / _ J C_) 1, <br /> I <br /> l <br /> i <br /> West Broadway <br /> Redevelo ment: Housin <br /> P 9 <br /> Market Issues <br /> i <br /> Presentation by ECONorthwest <br /> August 2007. <br /> i <br /> j <br /> t <br /> Wh is downtown housin im octant? Potential Demand <br /> r <br /> .Creates anchor for downtown development: .Eugene-Springfield growth: 3,200 people <br /> consumer demand for other services per year for the next 25 years. <br /> . Transforms areas previously deserted during ¦ Translates to 1,300 housing units per year <br /> evenings and weekends 800 new owner-occupied housing units per <br /> .Puts eyes on the streets, decreasing nuisance year <br /> and crime <br /> West Broadway Redevelopment ECONorthwest August 2°07 3 West Broadway Redevelopment ECONOrthwest Augus[ 2°07 4 <br /> i <br /> Ownershi housin Rental housin <br /> .Likely to buy downtown: ¦ Trends <br /> .Lowest vacancy rate since ~ <br /> .Young professionals 1994: <1% ~ J <br /> .Empty-nesters ~ ; .Increasing rents <br /> .Retirees .Demand is highest for new units <br /> .Current sales prices: _ ~ near campus ~ <br /> . $109,000-$655,000 ¦ Trends. likely to continue ~00~~ <br /> . $207-$355 per square foot ¦ Downtown accessible to meet <br /> .campus area demand (EmX) <br /> Wesl Broadway Redevelopment ECONorthwest August 2007 5 Wes[ Broadway Redevelopment ECONorthwest August 2007 6 <br /> i. <br /> 1 i. <br /> i <br /> <br />