Company is presently focusing on Seattle, but will eventually push its sustainably-built units in Portland when the market shifts
Jonas Sylvester believes there is a potentially strong market for sustainably built, prefabricated housing in Portland. It's all a matter of timing.
"We see Portland as a fantastic market," said Sylvester, vice president of investments for Unico Properties. "But the Portland market has a little more (apartment) vacancy and excess supply to work through."
The excess supply, caused by the economic slowdown, the housing collapse and the emergence of condo conversions to the market, means that Unico will take a wait-and-see approach to rolling out its first multifamily, modular housing developments in Portland. [Read full article]