The apartment market has shown no signs of slowing down this fall. Civitas Development, a local Portland developer, hired Guardian Management to lease up Corso, a brand new 46-unit apartment building in Portland’s NE Overlook Neighborhood. The property opened in mid August and was stablized by the end of September.
“The demand for housing in urban markets is amazingly strong right now,” said Portfolio Manager Tiffany Glines. “Especially for properties with great access to public transportation and a location close in to the city.”
Located on Interstate Avenue, residents have direct access to MAX Light Rail and are blocks from popular restaurants and shops along North Williams, Kenton and Mississippi Avenue. Downtown Portland is less than 10 minutes by car or 20 minutes by bike. Corso’s only amenity is a large state-of-the-art bike room with a repair and wash station. It does not offer any designated parking or other common area amenities. This was a concern at first, but leasing remained strong partly due to out of state renters who often choose to leave their cars behind.
“About half of our prospects were coming from out of state,” said Meghan Hill, Director of Marketing for Guardian. “This speaks well for job growth in Portland and also highlights the importance of location and access to public transportation.”
Corso offers a mix of studio, one and two bedroom apartments. All apartments feature wood-like vinyl flooring, granite countertops, large floor to ceiling windows, washer and dryers and full size appliances. The studio floor plans also include built-in armoires for added storage. The floor plan designs are open and flexible and range in size from 454 – 828 square feet. Pricing ranges from $995 – $1800 and attracted many first time renters.
Guardian Management veteran Dana Earlenbaugh oversaw the lease up and was supported by her maintenance technician Moses Mascolo. Guardian team members Josh Salazar and Cerissa Farrington also provided leasing support, and recently Josh transitioned into the Community Manager role after the property stabilized. Congratulations to the management team for a job well done!