Portland’s crane skyline

On a per capita basis, Portland has 75,780 residents per crane; the third most in Rider Levett Bucknall’s Crane Index after Toronto and Calgary and the most in the United States.  With 32 cranes dotting the skyline, Portland has the 6th most cranes in North America. With 88 cranes, Toronto tops the list followed by Seattle with 45 cranes.

The majority of Portland’s cranes are above new multifamily developments, a sector that has delivered over 12,000 units to the metro in the past 3 years. There are currently 7,713 units under construction. However the current pipeline consists largely of projects submitted before the city’s new Inclusionary Housing policy went into effect on February 1 2017.  Roughly 19,000 new multifamily units were in the pipeline ahead of Inclusionary Housing’s start date, that represents 4 years’ worth of development activity. And while new supply should remain solid for the next few years, there is a risk that by 2020 demand will once again surpass supply.