Pearl District condos on display as local home sales tick up
By Jim Redden, The Portland Tribune
In another sign that the local real estate market is stabilizing, organizers of this year’s Street of Dreams say attendance is better than expected.
“It started out decent and is growing much faster than previous shows,” says Dave Nielsen, chief executive officer of the Home Builders Association of Metropolitan Portland, which produces the annual month-long event.
The Street of Dreams usually showcases new luxury homes on landscaped lots in well-manicured suburban neighborhoods. Because of the recession, this year’s event is a little different. It focuses instead on nine unsold penthouses in four Pearl District condominium towers. Other available units in the condo buildings are also open to the public, but not part of the annual show.
Event director Nancy Haskin says two of the nine featured penthouses have sold since the Street of Dreams began on Aug. 1. People touring the buildings also have purchased an unknown number of smaller condominiums.
At the beginning of the event, prices for all available units ranged from $261,000 to slightly less than $2.5 million.
“We’re very pleased with the response so far,” says Haskin, who is the homebuilders’ association director of membership services and events.
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