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Waterfront Condo Living---Portland Fast Catching Up the Trend
The market for waterfront Portland condos is fast expanding. After all, it is not easy to overlook the glamour associated with downtown waterfront living. The net result is: as many as half a dozen waterfront Portland condos have been unveiled in the recent past. The success of The Meriwether condos must have inspired the builders to take up new projects in this category.
A stretch of long-vacant industrial land on the bank of Willamette River, just south of the Marquam Bridge has been experiencing flurry of activities over the recent years. This is where, The Meriwether is located. It was developed as a two-tower condominium complex housing some 245 units. The units vary in their sizes and types. You can get small studio apartments to spacious penthouses and naturally price varies between as low as $200,000 and as high as $4 million. At the very first phase, 232 of its total 245 units were pre-sold. This success of The Meriwether pointed to one inevitable trend; the condo market will be shifting from near-saturated Pearl District to the riverfront areas in the upcoming years.
Due to its natural limitation by West Hills on the one end and the river on the other, downtown Portland can not expand beyond a limit. As such, developers have unanimously decided to grow upward. The result is the consecutive development of 3 high-rise waterfront Portland condos--- The John Ross, The Strand at River Place and of course the pioneer, The Meriwether. While The John Ross stands formidable with its 31 stories and 325 feet high, Meriwether stands with her 21- and 23-story towers in the vicinity.
So, what is fueling this craze for waterfront Portland condos?
The baby boomers and empty nesters are the most important buyers of these condo properties. With kids grown up and flown the nest, the couples in their mid-50’s are no more in the needs of bigger homes and a number of them are moving to these downtown condos to experience an easier lifestyle and better urban culture. The low interest rates are helping them take the decision and a belief that condos appreciate faster than traditional homes are adding to their confidence. Newly refurbished transportation infrastructure and real estate predictions are also driving in the demands for these condo properties in riverfront areas. These waterfront properties are typically near all the activities and close to prominent clubs, restaurants and theaters in the city. These luxury Portland condos include health clubs in their feature-list and that make them particularly attractive to the senior home buyers.
Portland Riverscape and Waterfront Pearl are two other exciting condo projects of Portland. Currently, you can find at least seven major waterfront developments along the Willamette River. Some of them are near completion; some of them are ready for moving in. Search for available units in these exciting properties to get a taste of living right downtown and getting everything literally at your doorstep.
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