Since 1978, the program has supported the development of about 1,500 units in the city center. No housing has been built in the downtown core without MUPTE or some other property tax exemption for at least two decades. MUPTE has been essential to building density in the core.
Since at least 1990, all downtown market-rate housing developments have used MUPTE. The two affordable housing complexes (the Aurora and West Town on 8th) used the 20-year Low Income Rental Housing Property Tax Exemption, in addition to other financing tools specifically available to affordable housing developments.
The last market rate ownership housing (non-student) newly constructed within the downtown MUPTE area was the Tate Condominiums built 9 years ago. The last market rate rental housing (non-student) newly constructed within the downtown MUPTE area was Broadway Place, built 16 years ago.
The downtown housing vacancy rate has been at or near zero for many years, but there has been virtually no new construction. This points to some basic economic deficiencies—generally, the cost of new construction is high and the local market rents are too low to support the cost of dense construction.
Local firms have worked to build new housing projects in the city center, but have discontinued their planning. The developer of a proposed mixed-use project at 6th and Oak has put the project on hold, citing uncertainties related to MUPTE. The UO Foundation had proposed to build large amounts of market rate and affordable housing on the riverfront site, but exited the project, citing high risk and low investment returns.