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
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.
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5020 N. Interstate
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
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Meridian Gardens
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
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hollywoodHUB
Developer/Sponsor: BRIDGE Housing
Metro Bond Funds: $28.4M
Total Units: 199
30% AMI Units: 69
Family-Sized Units: 129
Target populations: BIPOC families
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Albina One
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
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PCC Killingsworth
Developer/Sponsor: Home Forward
Metro Bond Funds: $2.5M
Total Units: 84
30% AMI Units: 28
Family-Sized Units: 60
Target populations: BIPOC families
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Tistilal Village
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
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