Storm damage recovery


Waterleaf, formerly called Riverplace Parcel 3 Phase 2, is the second building in a new development by BRIDGE Housing, bringing 176 new affordable housing units to the South Waterfront area.
Riverplace Phase 2
Fall 2022

BRIDGE Housing’s Waterleaf project is the second building in a new development located in the amenity-rich South Waterfront area. The project adds 178 new units (of which 176 are affordable) on a site directly next to the Portland Streetcar station and close to the MAX light rail. Unique to the immediate area are the new Tillikum Crossing, a pedestrian/public transit bridge providing access to the close-in east side, as well as convenient access to the Oregon Health and Sciences University (OHSU) Waterfront and Marquam Hill campuses. Approximately one block away are the Waterfront trail and Poet’s Beach. The six-story development provides ground-floor commercial space and common areas including a community room with a television lounge, two communal laundry areas, an outdoor courtyard and a playground. A bike hub and 75 existing underground residential automobile parking spaces connect to the project, with another 67 parking spaces added during this second phase of the development.

For questions about unit availability and leasing:

Rental office

Building Profile

Project TypeNew Construction
LocationSouth Waterfront
Regulated Units176
PSH Units20
Total Units178
Bedroom SizeUnits
30% AMI20
40% AMI-
50% AMI-
60% AMI156
80% AMI-
Unrestricted Manager's Unit2

AMI = Area Median Income

Estimated Development Cost

Portland Housing Bureau$26,739,219

Development Team

  • BRIDGE Housing, Sponsor
  • Ankrom Moisan, Architect
  • Walsh Construction, General Contractor