Strong customer growth is at the heart of NW Natural's story. Our communities continue to expand and the company continues to capture the bulk of the residential new construction heating load. Overall, the Portland area is expected to grow by 500,000 people in the next 20 years. In Portland's fast-growing Pearl District, an area of mid-rises and lofts that appeal to urban-minded professionals, 5,000 new housing units have gone up in the last five years. Another 6,750 units are planned within the next five years. South of downtown on the Willamette River, the innovative South Waterfront development is adding 4,000 housing units and an expected 10,000 jobs in buildings using natural gas.
Suburban areas in our territory are also becoming more densely developed, creating traditional communities centered on a commercial core that is surrounded by stylish, energy-efficient homes served by mass transit. An excellent example of these modern villages is Villebois, located about 20 miles southwest of Portland in Wilsonville. When completed, Villebois will have more than 2,300 homes and will increase Wilsonville's current population by nearly 50 percent.
In addition to Villebois, approximately 12,000 acres of land in the Damascus and Gresham areas east of Portland are now primed for new development. Damascus, Oregon's newest zip code, is projected to add 25,000 residents by 2026. While most of the state's growth is concentrated in the Portland metropolitan area, growth is also occurring in other parts of NW Natural's service territory.
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