January 27, 2011

The historic Clifford Apartments are a great addition to the Central Eastside neighborhood. The building provides 100 units of housing for very low-income people, includes ground floor retail, and has been beautifully-renovated to be an attractive new feature in the neighborhood.

Yesterday afternoon, Nick joined County Commissioner Deborah Kafoury, Victor Merced, and Innovative Housing, Inc. (IHI), Executive Director Sarah Stevenson to commemorate two important milestones:

• The rebirth of the historic Clifford Apartments

• The 26th anniversay of IHI, the Clifford's owner and developer

The Clifford project is also an example of the successful TIF (Tax Increment Financing) set-aside program. The set-aside reserves 30% of urban renewal funds money to support affordable housing projects.

The set-aside contributed $3 million to this project, and also helped fund the new Madrona Studios in the Rose Quarter and Bud Clark Commons in Old Town/Chinatown.

The Portland Housing Bureau (PHB) secured City financing for this development, helping the Clifford offer 100 units to very low-income residents. This addition - and others like it - are helping us meet our goals in the 10-Year Plan to End Homelessness and fulfill our mission to help every Portlander find a safe and affordable place to call home.