Peaceful Villa Redevelopment Reaches Financial Closing

View full size image of Portland Housing Bureau graphic showing a rendering of Peaceful Villa overlaid on a map of PHB projects in Portland. Reads: "Peaceful Villa. Opening Winter 2027. 96 new + 70 rehab = 166 affordable units, studios to 4-bedrooms. Project-Based Vouchers for all units at 50% AMI. Solar arrays, energy-saving mechanical systems."

Last week, our partners at Home Forward closed financing on their redevelopment of the Peaceful Villa Apartments, and can now begin construction on 166 affordable homes. The Portland Housing Bureau (PHB) awarded Portland Clean Energy Community Benefit Funds (PCEF) to help this project meet sustainability goals.

Located in the Richmond neighborhood of Southeast Portland, Peaceful Villa will include 94 new and 70 redeveloped units, with 91 containing 2-4 bedrooms for families. Thanks to the PCEF investment, the project will employ solar arrays and energy-saving design. Home Forward will provide rent vouchers for all units, which will be available to households making up to 50% of Area median Income (AMI).

The project is designed by Bora Architecture & Interiors and LMC Construction will serve as general contractor. Services will be provided by the Immigrant and Refugee Community Organization (IRCO).

Learn more about PHB's PCEF strategy.

Learn more about Peaceful Villa.