
Portland’s downtown economy pivots to a new normal, not a return to the past
A Portland Metro Chamber report says downtown’s office demand won’t rebound to pre-pandemic levels, with 2025 leasing at record lows and vacancies at record highs, even as foot traffic improves due to residents and visitors. The shift reflects lasting changes from hybrid work, requiring a broader downtown mix—housing, entertainment, small businesses and attractions—to sustain activity beyond weekday office crowds. Regional job growth lags and housing affordability remains a constraint, while policy steps like accelerating permits and attracting investment (including Moda Center upgrades) are cited to diversify the economy and restore vitality.













