Four Development Teams Invited to Submit Proposals to Develop Broadway Corridor Affordable Housing by Portland Housing Bureau

Press Release
aerial view rendering of the Broadway Corridor
After successfully submitting qualifications for the development of 200-250 affordable homes at Broadway Corridor, Parcel 4A, these teams will compete for an award of up to $60 million in resources from the Portland Housing Bureau.

Portland, OR, April 1, 2024 – Four development teams submitted qualifications in response to the Portland Housing Bureau’s (PHB) December 28, 2023 Request for Qualifications (RFQ), which solicited bids from qualified teams to develop the northern half of Block 4 (referred to as Parcel 4A) located on the former Portland U.S. Postal Service site within the Broadway Corridor redevelopment area.

All four teams submitted impressive packages, and a review committee made up of industry experts deemed all four qualified to submit official proposals for the site in an upcoming Request for Proposals (RFP) to be issued by PHB in early April, 2024. Qualifications packages were evaluated in terms of criteria including: understanding the values and goals of the Broadway Corridor Master Plan and the impact of site conditions on development; demonstrated track record of at least two other similar projects; demonstrated track record of meeting or exceeding PHB’s equity in contracting goals and other equity metrics; experience with the meaningful community engagement processes required for the development; and demonstrated track record of successfully leveraging other local, state, and federal resources for capital funding. 

Upon award, PHB will make available up to $41.75 million in Metro Affordable Housing Bond dollars, up to $4.5 million in River District Tax Increment Financing (TIF) dollars, up to , and up to 10% of hard construction cost for eligible uses in (PCEF) from the Bureau of Planning and Sustainability, as well as the site itself. The development site sits within the Master Plan area, which is expected to leverage $100 million in public investment, including $6 million in a recent state allocation, for $1 billion in private investment.   

The four teams invited to submit proposals are led by:

-BRIDGE Housing
-Home Forward and the Urban League of Portland
-Related NW and IRCO (Immigrant & Refugee Community Organization)
-Edlen & Co., HMS Development and POIC + RAHS (Portland Opportunities Industrialization Center + Rosemary Anderson High School)

“The Housing Bureau is proud that these strong development teams responded to our RFQ and are now competing for this premier site,” said PHB Director Helmi A. Hisserich. “We are eager to review their proposals, and to get to work alongside them to bring hundreds of affordable homes to Prosper Portland’s exciting Broadway Corridor redevelopment. Soon, families in need will be able to find stability and community in the heart of Portland.”

“We are pleased that the Broadway Corridor project has reached this crucial milestone,” said Prosper Portland Executive Director Kimberly Branam. “Over the past five years, we have worked with community partners to shape a bold vision for this development in keeping with our commitment to inclusive growth that benefits all Portlanders. As that vision continues to move forward we are eager to work with the PHB team and their selected partner on this critical project.”

PHB expect to announce the award in June of this year. Construction on the affordable housing development is anticipated to begin in early 2026.

Since its passage in 2018, PHB has allocated $155 million in Metro Affordable Housing Bond funds to 24 projects, bringing 1,787 affordable homes to Portland, already far surpassing the 1,475-unit goal for the city. Goals for Permanent Supportive Housing units and family-sized units are also being exceeded. With the allocation of Metro Bond funds to the Broadway Corridor development, PHB is on track to exceed the goal for deeply affordable 30% Area Median Income (AMI) units, as well.

Map of Portland showing the locations and statuses of all 25 Metro Housing Bond projects in Portland. Includes sidebar with metrics.