Portland Housing Bureau Announces Nine Projects for Metro Funding
With the slate of new projects recommended for funding from Metro’s Affordable Housing Bond, Portland will surpass 80% of its Metro Bond housing goals. Land donation by Kaiser Permanente will further bond progress in 2022.
The Portland Housing Bureau (PHB) has submitted nine affordable housing projects for approval to receive funding from Metro’s Regional Affordable Housing Bond. When awarded, these projects will join four others already in development, representing more than 1,200 units of affordable housing—or 83% of Portland’s housing goal under the Metro Bond.
“Thank you to the Portland Housing Bureau, Metro, and the voters who supported this vital investment in affordable housing,” said Housing Commissioner Dan Ryan. “Families, Communities of Color, and Portlanders exiting houselessness will all benefit from these new housing options supported by the Metro Bond—I can’t wait to see how each and every resident adds their unique life experience to build a healthier, more resilient community.”
In 2018, voters approved the Metro Affordable Housing Bond, dedicating $652.8 million to the development of 3,900 units of affordable housing throughout the Portland Metro region. The City of Portland was granted $211 million from those funds with the goal of creating 1,475 units of affordable housing, including 605 deeply affordable units at 30% of Area Median Income (AMI) and 737 family-sized units. Additionally, the City established a goal of creating 300 units of Permanent Supportive Housing (PSH) through Metro Housing Bond funds.
Earlier this year, the Portland Housing Bureau issued a request for proposals from developers and community partners. Seven developments were selected from the solicitation, which are being recommended to Metro to receive $88.6 million in capital funding from Metro Bonds. Altogether, these seven new projects will create a total of 687 new units of affordable housing, including:
- 297 units that are deeply affordable for households who make 30% or less of the area median income (AMI);
- 376 family-sized units; and
- 122 new Supportive Housing units for chronically homeless individuals, couples, or families.