BEAVERTON - The housing market is the highest in five years according to the United States Commerce Department.
There is evidence of that happening in Beaverton. At 45 degrees Central, a new development is under way.
The 26-acre project at the corner of Murray Blvd. and Jenkins Rd. is just across the street from Nike's world headquarters. It's ready to roll out the welcome mat.
The first of 360 single family homes and condominium lofts are being built. Two homes are already sold.
All are built using sustainable practices. Even the road construction crews re-used concrete and asphalt after clearing the site when it was a mobile home park.
It will take several years for the complete build out. The City of Beaverton footed the cost for street and water infrastructure and is also giving developer Metropolitan Land Group incentives by deferring taxes for several years.
The single-family detached homes are a departure from traditional style homes. They are three stories with no yards.
"I think from a standpoint of having something that's dense detached, close to jobs, close to transit, I think there's a real demand for that" said John O'Neil, Vice President of Metropolitan Land Group.
Original plans called for a hotel as part of the project, but now in the works is a membership based sports and spa facility. It will take up seven acres. It still must be approved by the Beaverton City Council.
"It's a process that's going on in the normal fashion, so I think it's going to come through a winner" said Beaverton Mayor Denny Doyle.
Condos range from $89,900 - $187,900. Single family homes range from $234,900 to $349,900.
First owners will start moving in by early Fall.