Costa Pacific is currently the only provider of large-scale master planned communities developed with the Traditional Neighborhood Design (TND) approach in the Portland metropolitan area. Senior Management carefully mixes a range of housing choices with shops, restaurants, offices, and (when appropriate) institutional uses like schools and/or other public buildings to create a highly desirable sense of place, preferably, with access to public light rail or commuter rail. It incorporates eye pleasing architecture with pedestrian-friendly land planning, parks and green spaces to produce unique, complete communities that add perceived and real value to its buyers which far exceeds that found in a typical suburban subdivision.
CPC's niche of Complete Communities, utilizing the tenets of New Urbanism/Traditional Neighborhood Design/Smart Growth, promotes higher density housing and reduction of dependence on automobiles, which is also mandated by Oregon's land use controls. Others have tried to replicate some of Costa Pacific's products. However, no other developer or builder has introduced a comparable community or product tackling the design issues of higher density housing such as views, noise, and light into its residences.
U.S. Census Bureau projections indicate that population growth between now and the year 2025, in the seven western states CPC has targeted, will add 15 to 21 million new residents. CPC's immediate target market is a 600-mile radius of Portland, Oregon (an estimated commute time of approximately two hours by auto, charter aircraft, or scheduled air service). Projected population growth for this immediate target market is approximately 8 million new residents by 2025. At an average of 2.3 persons per household, 3.5 million new households will be formed by 2025.
The market demand in CPC's immediate 600 mile target area, based on the 30% homebuyers who are dissatisfied with their current subdivision location described above, would be over 1 million new residences in Master Planned communities in the next twenty years. At an average density of 8 units per acre (substantially lower than average densities preferred by "New Urbanism" standards), the population growth projections justify a minimum of 125,000 acres, or approximately 1000 new neighborhoods within Master Planned communities designed with an emphasis on Traditional Neighborhood Design and the principles of New Urbanism. A market share of just 10% of this type of product within Costa Pacific's 600-mile target market would mean 84 new projects the size of CPC's Orenco Station (148 acres) in the next 20 years.