Land - Yacht Habor Apartments

The property boasts a prime waterfront location with rare Columbia River frontage on Portland’s Hayden Island, offering direct marina and beach access. It sits just steps from the Vancouver Waterfront and the Jantzen Beach retail hub, only ten minutes from Vancouver and twenty minutes from downtown Portland. The 3.1-acre (±135,000 sq. ft.) site is development-ready and zoned Commercial Employment (CE), allowing for a 4:1 FAR and a 45-foot height limit. Extensive prior design, survey, and permit work are available—though there are no current entitlements, existing due diligence may expedite future approvals. Previous concept plans supported approximately 264 residential units with ground-floor retail and parking.

The site also presents major cost savings potential, being eligible for Portland’s 100% System Development Charge (SDC) Waiver Program between August 15, 2025, and September 30, 2028. This incentive could provide estimated savings of $15,000–$25,000+ per unit, translating to a total of $4 million–$6.6 million+ in potential savings, significantly enhancing project feasibility and returns.

Amid tight supply and strengthening demand, apartment construction is at a decade low with only 1,607 units underway, while occupancy remains high at 95.1%—above the national average. Rents are projected to grow 3–4% annually through 2028, and regulatory and financing barriers continue to limit new builds, supporting long-term rent growth and asset appreciation.

The area attracts affluent, lifestyle-oriented demographics, with a median household income of $92,000 and 61% of residents earning over $75,000. The population has grown 35% since 2010, and most residents are renters by choice, drawn to the island’s waterfront amenities and outdoor lifestyle.

Finally, the property is positioned adjacent to a major growth catalyst—the $1.5 billion Vancouver Waterfront redevelopment. This thriving mixed-use hub includes 3,300 residential units, 1.25 million square feet of office space, and 250,000 square feet of retail, driving regional demand and long-term value growth.