Nearly three years into the COVID-19 pandemic, at the end of 2022 the vacancy rate for commercial buildings reached 26% which has lead lawmakers, developers, and Portlanders to seek solutions to occupy abandoned properties. These buildings are nearly impossible to miss as they populate nearly every street in the Pearl District, an area that is home to many famous Portland destinations. Often times, many of the buildings are characterized by camps of houseless people right next to it. Mayor Ted Wheeler recognizes that housing scarcity is largely a reason for these vacancies, “We also had a fatal flaw that we didn’t see until the pandemic revealed it. And that was that cities that have housing in their urban core rebounded much, much more quickly than cities that don’t have housing, like us.” Because of this many Portlanders suggest turning these empty buildings into affordable housing. 
KOIN speaks with four people in the property development industry to discuss possible futures for the city. Developers argue that it is unrealistic to turn vacant buildings into housing as it is too expensive for the city and lacks incentive for companies to invest in. However, that does not mean that Portland is past saving, local governments need to be urgent in their efforts to tackle these vacancies and houselessness to revive the Downtown area to support its residents, businesses, and travelers. Read more below:
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