Portland Housing Bureau Funds Helped Open 928 Affordable Homes Last Year

Thanks to funding from the Portland Housing Bureau, 928 affordable homes opened in 2025 across 10 developments. PHB deployed funds from voter-approved sources including the Portland Housing Bond, the Metro Housing Bond, the Portland Clean Energy Community Benefits Fund (PCEF), as well as Tax Increment Financing (TIF) districts.

Another 632 affordable units broke ground last year, making a total of 1,544 now in the pipeline for completion between 2026 and 2029.

The projects which opened last year include:

The Acqua Apartments, a cost-effective acquisition which converted 100 units from market-rate to affordable in the South Waterfront (TIF)

Albina One, 94 units of family-focused affordable housing in the Eliot neighborhood of North Portland, subject to the N/NE Preference Policy (Metro Housing Bond)

Aldea at Glisan Landing, bringing 96 new affordable homes to Northeast Glisan Street in Montavilla (Metro Housing Bond)

View full size image of A photo of Aldea at Glisan Landing, a four story white apartment building. A large open courtyard with a playground is in the foreground.

Alder 9, creating 159 senior-oriented affordable homes in Buckman in inner Southeast (Portland Housing Bond)

chaku kumtuks haws, meaning "learning house" in chinuk wawa, brings 84 new affordable homes to Cully, adjacent to Portland Community College's new Opportunity Center (Metro Housing Bond)

The Goose Hollow Lofts, another rapid acquisition that converted 61 market-rate apartments to affordable housing in close-in Southwest Portland (Metro Housing Bond)

Julia West House, a Downtown Permanent Supportive Housing (PSH) development, adding 89 homes for those exiting homelessness (PCEF)

View full size image of Aerial photo of the Julia West House, a twelve-story beige apartment buidling with a prominent roof deck.

Kafoury Court, another new PSH development, brings 40 new affordable homes to NE Grand Avenue in the King neighborhood (PCEF)

The Paramount Apartments were acquired, converting 65 existing homes to affordable housing adjacent to Albina One in North Portland (TIF)

T. Joyce Phillips Apartments, a redevelopment and expansion of the existing 40 affordable homes at Dekum Court, adding another 147 new units in Northeast Portland's Concordia neighborhood (Metro Housing Bond)

View full size image of A photo of T Joyce Phillips, a multi-building three story apartment complex, with a playground in the foreground.

Between the Portland and Metro Housing Bonds, PHB is funding the creation of over 4,000 new affordable homes, with more to be announced. To date, this includes nearly 800 units of PSH, over 1,800 family-sized units with 2 or more bedrooms, and nearly 1,500 deeply affordable homes for those earning up to 30% of Area Median Income (AMI). Thank you to the voters of the Portland metro region for supporting affordable housing!

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View full size image of Map of Portland showing Portland and Metro Bond projects and their statuses as of December 2025. Sidebar reads: "$469 million invested by taxpayers. $1.95 billion leveraged. $470,133 average total unit cost. $3,135 average bedroom/year cost. 41 individual developments. 4,078+ affordable homes, 2,740 now open. 9,400+ Portlanders housed. 1,472+ deeply affordable homes (<30% AMI). 792+ units of Permanent Supportive Housing. 1,823+ family-sized units (2+ bedrooms). 110 homes for purchase. 99-year affordability