This month at the Buckman Neighborhood Association meeting there was a presentation by Koz Development. They will be building a new apartment building with 87 micro units near the Imago Dei Community Church at SE 14th and Ash. According to their website, they have a number of additional projects in the works within Portland and beyond.
Their model is to offer apartments that fill a largely untapped niche. Since the units are small, they rent for about 30% less than an average-sized market rate studio in the same area. Utilities and wi-fi are included in the rent. They also come fully furnished with a Murphy bed, two burner stove, and even pots and pans. One of the architects mentioned it was very similar to living in an RV.
So, how small you might wonder? They will be 250 and 350 square feet, expected to rent for $900 – $1500. Some even have 8 square feet of balcony.
This building will not provide any parking for residents, the representatives emphasized that their marketing encourages minimalist, car-less people to move in. They want their tenants to be happy.
Koz Development will provide some percentage of affordable housing units, which people will qualify for through a government program. These will run around $700.
What do you think? Here’s their site to learn more.