Sitting just 8 miles from downtown, NW Utopia will be the greatest community to be developed in Portland since Murrayhill and Forest Heights, which were developed over 25 years ago. Walk to parks, schools, the village with coffee shops and restaurants, this new 250 lot master planned neighborhood boasts large level lots ideal for privacy and even one level homes!
It is truly unbelievable that it has been over 25 years since Portland has seen a large-scale master planned community. Now that I have your attention, the fact is, there is no such neighborhood and likely will never be another one developed in the Portland area in our lifetimes. Between the urban growth boundary (UGB) and urban planners vying for high density housing to prevent suburban sprawl, all home buyers are left with either new homes on 4,000 square foot lots or finding an older home in an established neighborhood and remodeling or re-building.
This phenomenon is leading a renaissance of activity throughout the city in the older established neighborhoods as only these communities have the spacious lots that can accommodate a luxury home with a sense of space. Additionally, these areas typically have the prestige to warrant the investment. As a result of this new-found demand, even 50+ year old homes that are virtually original can sell for upwards of $750,000, only to be torn down with a new home built in their place.
While close-in eastside has been hot for years, it is now areas like Raleigh Hills, Cedar Mill, Cedar Hills, Hillsdale, Bridlemile, Garden Home, and Lake Grove that are seeing a true resurgence.
