With an acute housing shortage and escalating prices making headlines, the opportunity for thoughtful investment has never been more critical. The silver lining in this challenge lies in the concept of middle housing—a term that is rapidly becoming the cornerstone of thoughtful urban planning and investment strategy across the Beaver State.
Middle housing, an idea whose time has come, refers to a range of multi-unit or clustered housing types that are compatible in scale with single-family homes. These include duplexes, triplexes, quadplexes, townhouses, and cottage clusters. They are designed to blend seamlessly into existing neighborhoods, providing much-needed diversity in housing options without the disruption of traditional high-rise developments. This approach not only addresses the shortage but also paves the way for more affordable housing solutions.
Oregon has been a forerunner in recognizing the potential of middle housing. Legislation such as House Bill 2001 has mandated cities to allow these housing types in areas previously zoned exclusively for single-family homes. This bold step underscores a commitment to inclusivity and sustainability, aligning with Oregon’s progressive ethos.
For investors, the shift towards middle housing opens up a plethora of opportunities. By focusing on the development of these housing types, investors can play a crucial role in alleviating the housing crunch. More importantly, they can do so in a manner that supports community values, encourages diversity, and fosters a sense of belonging. The development of middle housing not only meets an immediate need but also serves as a lasting investment in Oregon’s future.
Investing in middle housing requires a nuanced understanding of local zoning laws, market demands, and community needs. It’s about more than just profitability; it’s about contributing to the fabric of a community. Successful projects will be those that offer affordability, quality, and a sense of place. They will be designed with the needs of the community in mind, incorporating green spaces, accessibility features, and amenities that enhance livability.
The path forward for Oregon investors is clear. By embracing the concept of middle housing, they can contribute to solving the housing crisis while also seizing a significant investment opportunity. It’s a chance to redefine the landscape of Oregon real estate, making it more inclusive, sustainable, and vibrant. In doing so, investors will not only see a return on their investments but will also play a part in shaping the future of Oregon’s communities.
As we look to the horizon, the vision for Oregon’s housing market is one of diversity, sustainability, and inclusivity. Middle housing stands as a beacon of hope, offering a practical solution to a complex problem. For forward-thinking investors, the message is clear: the future of real estate investment in Oregon lies in building communities, not just houses. Let us seize this opportunity with both hands, crafting a legacy of thoughtful investment that will benefit generations to come.
Note – this blog post was generated by AI based on the transcript of a presentation by me, Ryan Long, at a March 12th, 2024 local investor meetup in Corvallis. I will be sharing the video with anyone interested once it is uploaded to YouTube in the next week. Feel free to email me at ryanlong@kw.com or message me on instagram. I will also be sharing my journey in creating a cottage cluster in Albany, OR and a development of duplexes in Corvallis on Instagram. @wealthcheerleader
I’d love to help you find land or the next house with the opportunity for an ADU, cottage cluster, duplex, triplex, quadplex, townhomes or some mix of all of them 🙂