The revitalization of downtown Portland is gaining momentum despite persistent negative media coverage, according to industry veteran Rashelle Newmyer, a Coldwell Banker realtor and host of The Realtor Who Wines, who argues the city’s recovery presents unique opportunities for strategic investment.
“Parts of Portland look brand new because they have been spending a lot of time trying to put more energy and to revive the whole area and to just bring it back to life,” says Newmyer, who serves as a state director for Oregon Realtors. “Portland used to be known for just being so welcoming and clean and safe, and so they’re really trying to get back to that.”
According to Newmyer, even established businesses that weathered recent challenges are participating in the renewal: “A lot of them are getting facelifts and things like that, to just look brighter, better, cleaner.”
The transformation extends beyond cosmetic improvements. Newmyer notes significant shifts in how residents use the city: “A lot of people used to live and work in Portland, and that isn’t so much the case anymore. Our suburbs are like thriving because a lot of people moved out of downtown to the surrounding areas now that they don’t have to commute into the city as much.”
This evolution, driven by hybrid work arrangements, has created what Newmyer sees as investment opportunities in both downtown and suburban markets.
“Right now would definitely be a good time to invest because they are rebuilding the city,” Newmyer argues. “They’re trying to bring back tourism. They’re starting to bring back all the festivals, cleaning things up, and it is starting to thrive again.”
Plans for a national baseball league stadium further demonstrate renewed confidence in the city’s future. “They’re trying to build a national baseball league stadium as well, hoping that will also draw in more tourists,” Newmyer notes.
The return of restaurants and retail establishments signals growing economic vitality. “A lot more restaurants are starting to come back. More businesses are opening, and so we are seeing the foot traffic pick up quite a bit,” Newmyer observes.
Newmyer challenges what she sees as persistent misconceptions about Portland’s current state: “Portland doesn’t always shine the brightest on national coverage, especially in the last few years… it’s doing a lot better than it’s getting credit for.”
This gap between perception and reality, Newmyer suggests, creates opportunities for investors willing to look beyond headlines. “I think before judging, just come visit and check it out,” she advises.
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