Part 7/12:
Portland’s downtown vacancy rate has soared to over 30%, and in some areas, exceeds even higher thresholds. With so many office spaces lying vacant—often more than a third—and an environment of ongoing unrest, attracting new tenants becomes nearly impossible. The lack of a safe, stable environment discourages large companies from committing to office leases.
The Role of Leadership and Governance
The crisis is compounded by perceptions of feckless city leadership. Local authorities appear unable or unwilling to implement effective safety measures or urban renewal strategies. The absence of decisive action—such as addressing petty vandalism or large-scale disorder—allows chaos to fester, further deterring investment.