PHB is pleased to present the 2022 Progress Report for Portland’s Housing Bond.
Portland's Housing Bond, passed by voters in 2016, dedicated $258.4 million to create 1,300 permanently affordable homes for Portlanders in need, including families with children and people exiting homelessness. We have worked diligently alongside our Bond Oversight Committee to ensure that Bond investments reflect the values of the communities they are intended to serve and support.
As this year's Progress Report shows, 2022 stands out as a landmark year for Portland’s Housing Bond. All remaining Bond funds were allocated, bringing the total affordable units open or in progress to 1,859 —43% more than initially promised to voters. Thanks to careful stewardship and effective leveraging of outside funds, we were also able to significantly exceed all production goals for the Bond, including extremely-low-income units, family-sized units, and Permanent Supportive Housing units. With seven of the 15 projects now open, totaling 853 affordable homes, Portland's Housing Bond is nearly halfway to fulfilling its promise. Another 431 affordable homes are expected to open by the end of this year. Altogether, these Bond-supported developments will house over 4,000 Portlanders.
We are deeply grateful to the voters for stepping up to support much-needed housing in our city, and to our development partners for their hard work and dedication.
Special thanks to:
Black Parent Initiative (BPI)
Boys & Girls Club of Portland
Cascade AIDS Project
Cascadia Behavioral Healthcare
Catholic Charities
Central City Concern
Centro Cultural
Community Development Partners (CDP)
Community Partners for Affordable Housing (CPAH)
El Programa Hispano Católico
EngAGE Northwest
Familias en Acción
Hacienda CDC
Home Forward
Human Solutions
Immigrant and Refugee Community Organization (IRCO)
Impact NW
Innovative Housing, Inc.
Islamic Social Services of Oregon State (ISOS)
JOIN
Lifeworks NW
Native American Rehabilitation Association (NARA)
Native American Youth and Family Center (NAYA)
New Narrative
Northwest Housing Alternatives
Northwest Pilot Project
Related Northwest
Somali American Council of Oregon (SACOO)
Vibe of Portland
and of course, the Bond Oversight Committee.