Ethos Development Doubles-Down on Co-Living in Portland, Oregon
March 25, 2022
Portland, OR – Ethos Development, a Portland-based real estate development firm specializing in multi-family development projects throughout the Pacific Northwest, has completed its 29-bedroom ‘Society-62’ co-living project and has broken ground on its successor 44-bedroom ‘Society 42’ project, both located in Northeast Portland.
Co-living offers individual bedrooms with thoughtfully designed, shared kitchens, living spaces, and amenities. This innovative approach is part of Ethos Development’s ongoing commitment to paving the way for market-driven, accessibly priced housing throughout the region. The Society 62 and Society 42 rents are affordable to those earning 50%-70% of Area Median Income, as calculated by HUD, which is below rents in most subsidized affordable housing.
“Our co-living projects provide well-located housing at a price-point lower than a studio in the typical Class-A apartment building while still providing the convenience and experience of a new building,” says Jamison Loos, Sr. Development Manager Ethos Development. “Creating a replicable model of co-living will go a long way in addressing the city’s need for affordable housing without government subsidy.”
Both projects will be operated by OpenDoor, an Oakland-based co-living operator who creates community within its buildings and enables its resident members to live with greater connection, creativity, and sense of purpose. Being both the first co-living operator in the country and the longest running, its approach to housing combats the rising cost of urban living and the isolation associated with a hyper-digital society.
Both projects were designed by Koble Creative, will be constructed by O’Brien & Company, and financing was arranged by Ethos Commercial Advisors; all Portland-based firms.
About Ethos Development: A Portland-based real estate firm active on the West coast. To Ethos, every project represents a thoughtful big idea, not a one-size-fits-all solution. Primarily working in urban environments, Ethos and its design partners harness unique solutions to build high performance, low impact buildings. Unyielding attention to detail makes for inspired design, creating places where people want to be. www.ethosdevelopmentllc.com