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Metro Approves Seven New Portland Projects for Affordable Housing Bond Funding

Press Release
Seven new Portland projects received full concept endorsement from Metro for funding from Metro’s Regional Affordable Housing Bond, bringing the city to 1,200+ units of affordable housing in the pipeline through the Metro Bond—or 83% of the goal set forth for Portland's allocation of the funds.
Published

Seven new Portland projects received full concept endorsement from Metro for funding from Metro’s Regional Affordable Housing Bond. Earlier this year, the Portland Housing Bureau (PHB) issued a request for proposals making funds available for affordable housing projects that advance Portland’s goals under the Metro Bond. Seven proposals were selected by PHB, along with a community review panel, and recommended to Metro to receive $88.6 million in Metro Bonds for capital funding.

Following a thorough review of each recommended project, Metro provided concept endorsement approvals yesterday for all seven new projects from the 2021 solicitation managed by PHB. With this slate of new projects, Portland now has more than 1,200 units of affordable housing in the pipeline through the Metro Bond—or 83% of the goal set forth for Portland’s allocation of the funds.

PHB thanks Metro for their support and is proud to partner with Metro, and the many community organizations that have come together to create new affordable housing opportunities that are family-focused and culturally specific to meet the diverse needs of Portlanders—especially our Black, Indigenous, and People of Color communities, immigrants and refugees, families with children, seniors, and our neighbors experiencing chronic homelessness. Together these projects will provide supportive services and economic opportunities to help residents not only find stability, but thrive in the local community.

Learn more about the projects below.
 


74th & Glisan

rendering

Developer/Sponsor: Related NW, IRCO, Catholic Charities
Metro Bond Funds: $19.5M
Total Units: 137
30% AMI Units: 56
PSH Units: 41
Family-Sized Units: 63
Target populations: BIPOC households, seniors, people experiencing homelessness, immigrant/refugee households, intergenerational families.
Click here to learn more


5020 N. Interstate

rendering

Developer/Sponsor: Community Development Partners (CDP), Self Enhancement Inc (SEI)
Metro Bond Funds: $9.1M
Total Units: 64
30% AMI Units: 18
Family-Size Units: 48
Target populations: N/NE Preference Policy households
Click here to learn more


Meridian Gardens

digital rendering

Developer/Sponsor: Central City Concern 
Metro Bond Funds: $12.1M 
Total Units: 85
30% AMI Units: 70 
PSH Units: 65 
Family-Sized Units: n/a
Target populations: BIPOC households, people with disabilities including Substance Use Disorder
Click here to learn more


hollywoodHUB

rendering, building view from the pedestrian bridge over the MAX line

Developer/Sponsor: BRIDGE Housing
Metro Bond Funds: $28.4M 
Total Units: 199 
30% AMI Units: 69 
Family-Sized Units: 129 
Target populations: BIPOC families
Click here to learn more


Albina One

rendering

Developer/Sponsor: Albina Vision Trust, Edlen & Co.
Metro Bond Funds: $13.4M
Total Units: 94
30% AMI Units: 32
Family-Sized Units: 54
Target populations: BIPOC households, with a focus on single fathers
Click here to learn more


PCC Killingsworth

aerial view rendering

Developer/Sponsor: Home Forward
Metro Bond Funds: $2.5M
Total Units: 84
30% AMI Units: 28
Family-Sized Units: 60
Target populations: BIPOC families
Click here to learn more


Tistilal Village

rendering, front view of building

Developer/Sponsor: NAYA
Metro Bond Funds: $3.4M
Total Units: 58 (34 existing, 24 new)
30% AMI Units: 24
PSH Units: 16
Family-Sized Units: 22
Target populations: Native American families
Click here to learn more