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Posted Aug 9, 2024, 4:50 PM
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Moderator
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Join Date: Jan 2009
Location: Portland
Posts: 8,074
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Quote:
Portland Housing Bureau Awards Over $40M to Home Forward and Urban League for 230-Unit Affordable Housing Development in the Broadway Corridor
Portland, OR, August 8, 2024 – After a competitive solicitation, the Portland Housing Bureau (PHB) has awarded up to $37.5 million in Metro Affordable Housing Bond dollars and $4.5 million in River District Tax Increment Financing (TIF) dollars to a joint venture between Home Forward and the Urban League of Portland to develop 230 affordable rental homes within the Broadway Corridor, a 34-acre site overseen by Prosper Portland. The 14-story mixed-use development will be the anchor site for the new neighborhood, providing homes for over 400 Portlanders in need, alongside services accessible both to residents and the local community. Home Forward and the Urban League intend to break ground in the summer of 2026, and expect to complete construction in the summer of 2028.
“Our community review committee was extremely impressed by the thoughtful, elegant design, the integrated on-site services, and the dedication to dignified, well-constructed affordable homes shown by the Home Forward and Urban League proposal,” said PHB Director Helmi A. Hisserich. “We are proud to support this transformative development, which will root the new Broadway Corridor neighborhood in a commitment to service and support for low-income Portlanders for decades to come.”
The new apartments will range from studios to 3-bedrooms, with 62 of the units sized for families and larger households. 39 of those larger units will be regulated affordable at 30% Area Median Income (AMI) with rent assistance to serve extremely low-income residents, and 35 of them will include wrap-around Permanent Supportive Housing services. Another 11 studios and one-bedrooms will also be regulated at 30% AMI and include rent assistance.
"Home Forward is thrilled to be selected to develop this site and to be part of this a once-in-a-lifetime opportunity to create a new, vibrant, diverse neighborhood in the heart of our city. Prioritizing affordable housing as the cornerstone of the Broadway Corridor shows our collective commitment to ensuring that all Portlanders, regardless of income, have access to high-quality housing, essential services, and a supportive environment,” said Ivory Mathews, Chief Executive Officer of Home Forward. “I want to thank the Portland Housing Bureau and Metro for their funding support and partnership, and Prosper Portland for their vision of a new community where everyone has the opportunity to thrive.”
On the ground floor, the Urban League will operate a 2,900-square-foot affordable Early Learning Center, open to both building residents and the surrounding community, plus a 1,200-square-foot Workforce Development Center activating the corner at NW Johnson St. & 9th Ave. The project will also include a 2,700-square-foot community room overlooking a second-story roof deck, and property management and service offices on the ground floor. Outside, the developers plan to include a playground, courtyard, and community gardens. The development will prioritize sustainable design and construction practices, making use of funding from the Portland Clean Energy Community Benefits Fund (PCEF), and targeting an Earth Advantage Platinum rating. Holst Architects will serve as the design firm, and Colas Construction will be the general contractor.
“We are using our nearly 80 years of investing in this city to keep the development focused on serving our community,” says Urban League of Portland President & CEO Nkenge Harmon Johnson. “I am convinced the Broadway Corridor will be a major catalyst to improve this historically underserved neighborhood. And I am pleased the City of Portland recognizes Urban League’s ability to transform lives through our unique blend of wraparound services and advocacy while improving our community, block by block, from the ground up.”
The development is located near high-performing neighborhood schools, groceries, services, medical facilities, and frequent transit. Once progress is made on the larger Broadway Corridor development, the affordable building will also be adjacent to the extended North Park Blocks, including a segment of the planned Green Loop bike/walk/roll path.
“We’re excited by today’s announcement and look forward to working with the Portland Housing Bureau, Home Forward, and the Urban League as we collectively deliver on the vision for the Broadway Corridor,” says Prosper Portland Director Kimberly Branam. “Connecting the Old Town and Pearl District neighborhoods, this new district in the heart of our city will spur inclusive economic growth and deliver on our shared values as a site of connection and environmental stewardship; a vibrant mixed-income community; and a bustling center of employment and commerce.”
At 230 units, the Broadway Corridor Affordable Housing development is the largest new construction project in Portland funded by either the Metro Affordable Housing Bond or the Portland Housing Bond. With its addition to PHB’s pipeline, the bureau has now surpassed all major goals for Portland’s $211 million Metro Housing Bond allocation, which will produce 2,046 affordable homes where 1,475 were targeted. The City is also surpassing goals for family-sized units, deeply affordable units, and Permanent Supportive Housing units receiving Metro Bond funds. While all of Portland’s Metro Bond funds are now allocated or earmarked, additional units will be announced in the coming months. Between the Metro Bond and the fully-allocated Portland Housing Bond, PHB is providing nearly 4,000 new affordable homes, able to house over 9,000 low-income Portlanders at a time.
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...via the Portland Housing Bureau.
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