Apartment rental market shifts, defendants guilty in second Malheur trial and alcohol eclipses tech as fastest growing sector.
Flood of luxury apartments puts brakes on Portland rent growth
For the first time in recent memory, renters — at least on the higher end of the scale — don’t have to compete for an apartment, the Oregonian reports. Managers are offering move-in specials and nixing rent increases to attract tenants. This buyer’s market has yet to trickle down to affordable housing, however, as most specials feature apartments renting for $1,000 per month. The vacancy rate has also gone up to 5.7%, the highest since 2010.
Two Malheur occupiers found guilty of conspiracy
The second trial of Malheur occupiers took place last week in Portland. The first trial resulted in an acquittal for seven occupiers, including leaders Ammon and Ryan Bundy. Prosecutors sought conspiracy charges in both trials. In the second trial, Jason Patrick and Darryl Thorn were found guilty of conspiracy, while Duane Ehmer and Jake Ryan were convicted of depredation of government property, OPB reports.
Alcohol industry job growth surpasses tech
Data from the Oregon Department of Economic Analysis found the alcohol production sector grew by 7,400 jobs from January 2008 to September 2016, the Statesman Journal reports. The tech industry only added 6,900 jobs in the same time period.
Intel buys Mobileye for $15.3 billion
Mobileye specializes in computer vision needed for automated driving technology. Their technology will pair with Intel’s existing microprocessors. This purchase is the latest in a string of investments by Intel, which is looking to lead automated car technology.
Bend 2030 is one of city’s most influential groups
Bend 2030 is a nonprofit task force created by the city to create a vision for Bend 10 years ago. The group has shifted from cheerleader to influential advocacy group, the Bend Bulletin reports. One issue the group is considering? Bend’s housing crisis. Thanks to a $100,000 Meyer Memorial Trust grant and an additional $225,000 in fundraising, Bend 2030 is leading the charge for change.
Woodburn fruit processor will stay open after all
Tree Top, Inc announced last September it would shut down its Woodburn plant due to inefficiency. The fruit processor has changed its mind, the Woodburn Independent reports. Tree Top will keep about 45 of its 100 employees.