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The Portland Housing Bureau (PHB) has concluded a real estate negotiation to purchase land for affordable housing in the Pearl District from private developer Hoyt Street Properties (HSP). On April 22, Portland City Council will vote to on whether to approve the purchase of the quarter-block site on NW Raleigh Street at the below-market price of $1.3 million.
"We are excited to be bringing more affordable housing to the Pearl District," said Housing Commissioner Dan Saltzman. "We know that people thrive when they live in areas with opportunities and this is a part of the city with substantial amenities and opportunity."
The deal is part of an ongoing effort undertaken cooperatively by HSP and the City to ensure that private development in the Pearl District includes housing options for Portlanders of all income levels.
Per a 1999 agreement with the City of Portland, 35% of housing units built on HSP’s 34 acres in the Pearl District would need to be meet affordability standards. In the event the target wasn't reached by specified dates, the agreement provided an opportunity for the City to acquire land for affordable housing at a below-market price.
Last fall, HSP and PHB jointly determined that HSP would fall just short of the goal, despite having recently closed on the Abigail Apartments to build 142 units of affordable family housing. Of nearly 2,000 units across 14 projects, 601 (or 30%) were affordable. Factoring in other housing planned for the area—including projects in the design, permitting, or construction stage as of September 2014—brought that figure to 28%.
"It can be a real challenge to match the pace of the private market in a boom like what we have seen in the Pearl District and throughout the River District," said PHB Director Traci Manning. "We are proud of the thousands of affordable homes throughout the River District—and the families who have been able to live there—thanks to successful collaborations such as this. We also know we still have work to do."
The remedy, according to the agreement, entailed a six-month process whereby the City and HSP would identify a parcel and arrive at a purchase price using a calculation that factors in the value of HSP's improvements in the area as well as the City's infrastructure investments over time. The City and HSP followed the prescribed steps and engaged three appraisers to determine the final purchase price, which is 13% below the market value of $1.5 million.
"It takes the efforts of many stakeholders working together to ensure that our neighborhoods are vibrant, successful, and provide adequate housing options for all Portlanders," said Commissioner Saltzman. "Private developers like Hoyt Street Properties are an important part of that work. We are glad to be moving forward on affordable housing in such a key location."
The 10,000-square-foot site on NW Raleigh Street, between 13th and 14th avenues, is conveniently located near public transit and is the only one of HSP’s available parcels on paved streets.
If approved by City Council on Wednesday, PHB expects to acquire the site before the end of April and begin soliciting a developer this summer.
Portland Housing Bureau, Home Forward, and the Portland Development Commission Partner to Increase South Waterfront Housing for Lowest-Income Portlanders
The Portland Development Commission (PDC), in partnership with the Portland Housing Bureau (PHB), released a Request for Proposals today for a new South Waterfront development that aims to create at least 200 affordable homes, as well as market-rate housing and commercial space. PDC, who owns the land, has made the site available for a joint mixed-use mixed-income development with PHB. As many as 90 of the housing units will be affordable to households earning less than 30% of the Median Family Income ($24,250 or below for a family of four) thanks to a commitment from Home Forward to dedicate 80 rent assistance vouchers to the project, including 10 for homeless veterans. Home Forward’s contribution will also leverage other resources to support deeply affordable housing within the project.
“Through innovate thinking and collaboration, we are able to maximize affordable housing opportunities on this site,” said Commissioner Dan Saltzman. “South Waterfront offers many amenities and opportunities that should be available to Portlanders of all income levels.”
The project is another step toward furthering the City’s affordable housing goals in the North Macadam Urban Renewal Area. “We offer our full support for this project, which is a key piece of our efforts in South Waterfront as we work to build a vibrant, diverse neighborhood,” said PDC executive director Patrick Quinton.
The project also aligns with the broader A Home For Everyone initiative. Earlier this year, the A Home For Everyone Executive Committee—including Commissioner Saltzman, Mayor Hales, and Michael Buonocore, Home Forward's executive director—approved a set of action plans to end Veteran homelessness across Multnomah County, and reduce unmet housing need among people experiencing homelessness by half over the next two years.
The vouchers from Home Forward are part of the agency's new initiative dedicating 500 rent assistance vouchers over the next several years to projects that provide housing opportunity for low-income families in neighborhoods with good schools and amenities.
“We are pleased to support an effort that gives more low-income families the ability to live in a great area,” said Michael Buonocore, Home Forward executive director. “In addition, the development will provide at least another 10 apartments for very low-income residents beyond the 80 our vouchers will create. This is the multiplier effect we hoped committing our resources could have.”
The PDC-owned site, known as Riverplace Parcel 3, is nearly 88,000 square feet located on the southwest corner of SW River Parkway and SW Moody Avenue in Portland’s central city RiverPlace neighborhood. It’s also in close proximity to the Oregon Health and Science University campus, where many Veterans access critical services through the Portland VA Medical Center.
Download the full RFP here.
Today, Portland Housing Bureau Director Traci Manning announced that she will be leaving her position at the Bureau at the end of this month, sharing the following words with staff and colleagues:
"I couldn’t be more proud of the work that the Portland Housing Bureau does for the citizens of Portland. And, it is on a path to increase its positive impact and the public good that it produces for the City. It has a very strong, capable and committed leadership team and staff that are deeply dedicated to creating equity and opportunity through the Bureau's work.
This is not a career decision for me, but rather a life change for my husband and I. He left his corporate job to start his own company last year, one he can often run remotely. We have frequently talked about living differently - downsizing to live more simply and intentionally. Now is the opportunity to do so. We'll be based out of Portland while traveling the mountains and trails that we love.
I feel humbled by the time I have gotten to work in this role and in a field that is so important to the well-being of our community and neighbors. I feel strongly that what we accomplish is due in no small part to the tremendous partners working by our side."
Traci was appointed as PHB Director in 2011 after 18 years at Central City Concern. Read more about her here. Traci's last day at the Bureau will be April 30, 2015.
The Housing Bureau thanks Traci for her tremendous service and leadership, and wishes her well as she prepares to embark on this new chapter.
The nonprofit Portland Habilitation Center will develop additional affordable family housing in East County with PHB support.
City Awards Opportunity Fund to
Portland Habilitation Center for East Portland Housing Development
The Portland Housing Bureau (PHB) is pleased to announce the award of $749,000 from its Opportunity Fund for the development of a 33-unit affordable family-sized housing project in East Portland to be developed by the Portland Habilitation Center at a total estimated cost of $4.2 million.
The Opportunity Fund was created in 2014 in order to invest in projects that utilize strategies to reduce the costs of developing affordable housing, and provide a flexible funding mechanism.
“We are proud to partner with the Portland Habilitation Center in ensuring that more East Portland school children will have a safe, stable place to call home,” said City of Portland Housing Commissioner Dan Saltzman. “This model benefits taxpayers by providing affordable units at a lower cost of production. It is a way of doing business we will continue to replicate in the future.”
The project site at SE 143rd and Burnside sits between four school districts (David Douglas, Parkrose, Reynolds, and Centennial), where 75% of the 30,000 students are low-income and 60% are from communities of color. The project will serve low-income families with children attending East Portland school districts and will add to the Portland Habilitation Center’s portfolio of 600 affordable rentals in the area.
“This support from the City will allow us to build more housing and further our work to meet the needs of the families in East Portland,” says Deb Houston, Interim CEO of the Portland Habilitation Center. In addition to housing, they plan to include a community room where they hope to offer wrap-around services, such as tutoring and budgeting classes. “These are our hopes and dreams,” Houston says. “The Opportunity Fund award helps us accomplish some of that.” Houston adds that the more nimble funding process allowed them to take advantage of opportunities that will help control project costs.
The development team also includes Home First Development, Jivanjee Circosta Architecture, and SILCO Commercial Construction.
The 2015-16 Annual Action Plan presentation will take place on April 7, 2015
Presented by the City of Portland, Multnomah County, and the City of Gresham
Tuesday, April 7, 2015, 5:00 — 6:30pm
(Dinner served at 5:00, presentation begins at 5:30)
Portland Housing Bureau
421 SW 6th, Suite 500
Portland, OR 97204
Photo of Annnual Action Plan Community Need Meeting in Gresham, December 11, 2014
Join us to learn about how Multnomah County and the cities of Portland and Gresham plan to invest federal funds in housing and community economic development in the coming year — and share your comments and questions.
Click here if you are planning to attend. Your registration is appreciated, but not required.
To request childcare or translation services, please call 503-823-5312 three days in advance.
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