Part 1/9:
The Collapse of Downtown Portland's Commercial Real Estate and Its Impact on Tax Revenue
The Parallel with National Trends in Commercial Real Estate
Portland, Oregon, is experiencing a crisis familiar to many big American cities—particularly those with dense downtown cores. The pandemic accelerated the shift toward remote work, leading to a staggering decline in demand for office space. As a result, many prominent buildings are being sold at drastic discounts—sometimes 80-90% below previous market valuations. In cities like Portland, this has caused a ripple effect on property taxes, city budgets, and economic vitality.