Portland Housing Bureau Announces Funding for 251 New Affordable Homes

Press Release
Rendering of 73 Foster, a new affordable housing complex with four stories.
Funds from the Metro Affordable Housing Bond and Multnomah County general fund will be deployed to fill funding gaps in four construction-ready projects.

Portland, OR, December 20, 2023 – The Portland Housing Bureau (PHB) has selected four new affordable housing projects for funding to advance Portland’s Metro Bond goals for extremely low-income units (at 30% of Area Median Income) and Permanent Supportive Housing. The Metro Bond “Last Gap” Opportunity Solicitation (M-BOS “Last Gap”), released in August, included a combination of funds from the Metro Affordable Housing Bond, Multnomah County General Fund, and Portland Clean Energy Fund (PCEF), as well as rent support vouchers from Home Forward, and Supportive Housing services funding from the City/County Joint Office of Homeless Services (JOHS) to fill funding gaps in permit-ready affordable multifamily housing projects.

“This funding award represents a significant, innovative partnership between the City of Portland, Metro and Multnomah County to address our region’s housing affordability crisis,” said Portland City Commissioner Carmen Rubio. “I’m grateful to the Portland Housing Bureau and the Portland Clean Energy Fund for their work on this solicitation to help fund what our city and region urgently need to address the housing crisis while also tackling the climate crisis.”

The PHB funds will fill gaps in four projects, allowing them to move into construction within the next few months. The four projects will create 251 new affordable rental and homeownership units, including 53 extremely low-income units; 22 Permanent Supportive Housing units for chronically homeless individuals, couples or families; and 144 family-sized units.

Map of Portland showing the locations and statuses of all 25 Metro Housing Bond projects in Portland, highlighting the four new "MBOS Last Gap" projects. Includes sidebar with metrics.

Selected Projects (Contingent upon Metro's concept endorsement):

7330 SE Foster Rd.

Developers: REACH CDC
Additional Partners: Walsh (General Contractor), Holst (Architect), Community Vision (Resident Services)

73Foster is a new construction project with 64 affordable homes including 29 family-sized units and 22 Permanent Supportive Housing units. The project is located in the SE Foster corridor, connecting diverse neighborhoods and centers of cultural commerce, and providing equitable access to the 14 TriMet bus, culturally diverse retailers and groceries, parks, Mt. Scott Community Center, schools within walking distance, jobs, healthcare, and social services. Click here for full project profile.

PCC Southeast Affordable Housing
7705 SE Division St.

Developers: Our Just Future / APANO / Edlen and Co.
Additional Partners: Bora (Architect)

PCC Southeast Affordable Housing is a four-story apartment building located in the Montavilla neighborhood, providing 124 units of affordable housing, including 63 family-sized units, of which 20 units will serve households at 30% AMI. The project is located on the edge of Portland Community College’s Southeast Campus on 1.61 acres made available for development by PCC, and offers many amenities such as a community room, indoor play area, on-site laundry, bike storage, and lounges. Outdoor amenities include a community garden, covered and open picnic areas, gathering spaces, and a playground. These units will serve families in the neighborhood with an emphasis on Communities of Color. Click here for full project profile.

Gooseberry Trails
2374 SW Vermont St.

Developers: Habitat for Humanity
Additional Partners: Proud Ground

Gooseberry Trails is located in the Hillsdale neighborhood and will create 52 townhomes for sale, ranging in size from 2- to 5-bedroom units. 45 of these homes (more than 85%) will have three or more bedrooms, well-suited for larger and/or multigenerational families. Through a partnership with Proud Ground, the land on which this development sits will be held in a Community Land Trust. The homes will be sold at a below-market, affordable base price and will be permanently affordable, sold to household earning up to 60% AMI (36 units) or 80% AMI (16 units). In addition to the five, single-story, fully ADA accessible homes, all homes in the development will be visitable to someone with physical mobility limitations. Click here for full project profile.

Jolene’s Second Cousin
6935 NE Glisan St.

Developer: Guerilla Development Co.
Additional Partners: Brett Schultz Architecture, JOIN (Resident Services)

Guerrilla Development Co. will develop Jolene’s Second Cousin, an innovative housing project located in Montavilla. The two-story, 3,600 square foot project consists of 11 single room occupancy (SRO) units targeted to serve very low-income, formerly homeless individuals. Local nonprofit JOIN will provide services aimed at helping tenants access employment, benefits, transportation assistance, medical and mental health referrals, and food resources. The Joint Office of Homeless Services will provide funding support to JOIN. Each SRO unit will have a sink and the building will have a common kitchen and common bathroom. Click here for full project profile.

In 2018, Metro-area voters approved the Metro Affordable Housing Bond,dedicating $652.8 million to the development of 3,900 units of affordable housing throughout the Metro region, including $211 million to create 1,475 units of affordable housing within the City of Portland. Portland’s goals also include 605 units for households with incomes at 30% AMI, 737 family-sized units, and 300 units of Permanent Supportive Housing.

Since 2018, PHB has made commitments to 24 projects with Metro Housing Bond funds. A Local Implementation Strategy guides these investments according to community priorities and PHB’s commitment to advancing racial equity and making a tangible impact on ending homelessness. Based on awarded projects, PHB has exceeded the targeted unit count with 1,790 units open or in production, and the family-sized unit goal with 891 units. The M-BOS “Last Gap” solicitation sought project proposals to help reach the remaining targets for deeply affordable 30% AMI units and Permanent Supportive Housing (PSH) units. With these new projects, PHB has additionally exceeded the target for Permanent Supportive Housing with 311 units and is on track to exceed the 30% AMI goal with 597 units.

“With Portland’s Housing Bond now fully allocated and exceeding all goals, the City is focused on deploying its remaining allocation of Metro Affordable Housing Bond funds. The Housing Bureau has already made substantial progress toward its Metro Bond goals,” said Interim Portland Housing Bureau Director Michael Buonocore.  “With these four awarded projects, we are now surpassing three of our major goals, and are inches away from exceeding the fourth. Thank you to our partners at Multnomah County, Metro, and the Portland Clean Energy Fund for contributing to these vital projects and helping to meet Portland’s housing needs.”

PHB will submit the four projects to Metro for concept endorsement. With applications for funding now closed, PHB anticipates announcing additional funding allocations from the MBOS Last Gap Solicitation in the near term.

Portland Housing Bureau graphic reading: "Metro Housing Bond: Portland Score Card. $155 MILLION ALLOCATED. GOAL: 1,475 TOTAL UNITS  - EXCEEDED: 1,790+ UNITS. GOAL: 300 UNITS OF PSH - EXCEEDED 311+ OPEN/IN PROGRESS. GOAL: 737 FAMILY-SIZED UNITS - EXCEEDED: 892+ UNITS. GOAL: 605 UNITS AT 30% AMI - ON TRACK: 597+ OPEN/IN PROGRESS. $211 million = affordable homes for 4,600+ Portlanders. Over $60 million remaining earmarked or reserved."