Downtown Portland is about to find out how far a markdown can really go. The Ritz-Carlton Residences in Block 216, the city’s splashiest new luxury tower, has rolled out a sweeping price reset, with brokers saying some units are now listed at roughly half of their original asking prices. The strategy is not just about clearing out unsold inventory. It is being framed as a high-profile experiment in whether aggressive pricing can help pull people, and their dollars, back into the city’s struggling core.
What Changed At The Ritz-Carlton Residences
Patrick Clark, part of the brokerage team now steering sales, said the residential side of the tower holds 132 condos, yet the previous owner managed to close just 11 of them. “Right now it is a value…..