421 SW 6th Avenue, Suite 500, Portland, OR 97204
Proud Ground and Habitat for Humanity are developing condominiums on North Interstate Avenue. These are anticipated to be completed by 2021. Forty of the Sixty-four units are available to purchase by participants on the North/Northeast Neighborhood Housing Strategy Preference Policy Waitlist.
The Preference Policy gives preference to residents that have been harmed by city actions through previous urban renewal practices within the Interstate Corridor. Current and former longtime residents of the North/Northeast Portland will be considered before those residing outside the area.
Homeowners purchasing these units will be purchasing into Proud Ground’s Community Land Trust. In a Community Land Trust, homeowners who decide to sell their home receive a fair return on their initial investment and agree to maintain that affordability for the next income-qualified homebuyer.
Potential homebuyers who are interested in this opportunity must apply for the N/NE Preference Waitlist between Monday, April 22, 2019 and Friday, May 3, 2019 at 11:59 PM. The application will be available online beginning Monday, April 22, 2019 at 9:00am.
Some applicants may be eligible for down payment assistance loans provided by the Housing Bureau or Prosper Portland to assist in purchasing a home in the open market. Funds are limited to loans still available from Round 1 of the Preference Policy. Eligibility screening will be completed by Portland Housing Center through the homebuyer counseling process.
Applicants can receive up to six “preference points” based on their current or past residence (plus that of a parent/guardian or grandparent) within areas of concentrated urban renewal in N/NE Portland.
Preference is based on the amount of urban renewal activity that occurred where you or your parent/guardian or grandparent lived (or currently live) in N/NE Portland.
Preference is given to applicants who were displaced, are at risk of displacement, or who are the descendants of families that were displaced due to urban renewal in N/NE Portland.
Family-Sized Condos at 5020 N Interstate Ave.
If you are selected for the waiting list, you will be asked to verify the information on your application. Click here for a list of eligible verification documents and how to obtain them.