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PSU offers Real Estate conference: "The National Economy and Portland's Future Skyline"
Author: Center for Real Estate sells out its first real estate conference.
Posted: May 31, 2006 
Economic Boom
 
 KOIN-TVChannel6Portland
 5/31/200618:12:15
 
 NEWSCASTER: If downtown Portland's growth is any indication, the local
 economy is headed up. More developers want to build and people
 interested in living downtown are willing to buy. KOIN News 6's Lynn
 Huston says Portland is among the cities leading the nation in development.
 
 REPORTER: The skyline changes with money and demand; money that powers
 construction projects, demand that keeps new housing at the fore-front.
 Yes, there is more construction in and around downtown Portland, but
 it's also interesting to note how much construction there is and just
 who is interested. This morning Portland State University's Center for
 Real Estate held a conference, bringing together business leaders for a
 progress report. Developer Mark Edlen sees more 30-year-old first-time
 buyers.
 
 MARK EDLEN, GERDING/EDLEN DEVELOPMENT: The Civic is a good example of that. We have 260 units that we're building there that are for sale  production top of 40,000 square feet of retail adjacent to 140
 apartments. And we're about 12 months away from the completion of
 construction and we've sold 230 of those 260 units. Certainly it's been
 the fastest selling product we've had in Portland.
 
 REPORTER: Local economy consultant Joe Cortright sees business equally attracted to downtown locations.
 
 JOE CORTRIGHT, IMPRESSA VICE PRESIDENT: Relative to other markets, we have a lower vacancy rate in Portland. Portland also has one of the densest concentrations of employment of any large metropolitan area in
 the United States. More of our jobs are located closer to the center of  the region.
 
 REPORTER: Wells Fargo Chief Investment Strategist Jim Paulsen is
 bullish on the national economy.
 
 JIM PAULSEN, WELLS FARGO STRATEGIST: By and large that has less to do with interest rates than it does with profitability. You've got, you know,  profits still pretty strong among corporations and businesses. And I think as long as that is the case, then you're going to continue  to have pretty good commercial real estate activity.
 
 REPORTER: Lynn Huston, KOIN News 6.