The funding will support major rehabilitation work needed to preserve more than 200 housing units serving those exiting homelessness.Read More…
421 SW 6th Avenue, Suite 500, Portland, OR 97204
Mayor Ted Wheeler today announced plans to move forward with the first new development project under Portland’s Housing Bond since adoption of the Strategic Framework. The former Safari Club site at 3000 SE Powell Blvd was purchased by the City with short-term rental revenue in September for affordable housing. A recent evaluation of the property by the Bond Oversight Committee determined that its location meets community criteria for using Housing Bond funds to develop the site.
“The bond gives us the resources to build and preserve an additional 1,300 units of affordable housing in Portland,” said Mayor Wheeler. “Our strategic framework focuses on creating housing opportunities for families and individuals impacted by racism, housing discrimination, homelessness, and displacement.”
Under a framework for Bond expenditures adopted by City Council in October, Bond investments should seek to prevent displacement and provide access to opportunity. The property’s location in the Creston-Kenilworth neighborhood provides good access to education, transportation, economic opportunity, green spaces, and other community amenities. It has also been identified as at risk for gentrification and displacement.
“We’re pleased to build our first housing bond project in such a dynamic area,” said Shannon Callahan, Interim Director of the Portland Housing Bureau. “We look forward to working with the Bond Oversight Committee and the community on the development plans.”
PHB plans to begin the design process for the 50,000-square foot parcel immediately with construction expected to begin in early 2019.
Portland voters passed the $258.4 million general obligation bond for affordable housing in November 2016, with a minimum goal of producing 1,300 units. The 3000 SE Powell site will represent the first new development to be built with the bond. PHB is currently reviewing other proposals received through an open solicitation issued in October and continues to seek proposals to acquire both land and existing buildings. For more information, visit www.portlandhousingbond.com.