 Developer Nate Green says the project intends to fill the gaps in Portland's housing inventory for first-time homeowners who've been priced out of the market with rising prices and interest rates over the last five years. A house that sold for $370,000 at that time with a 30-year mortgage at 3% was a payment of $1,500 a month. Now, if you took a similar house today, same square footage, 2024, what it sold for is around $985,000.