421 SW 6th Avenue, Suite 500, Portland, OR 97204
July 16, 2018 (Portland, OR) – The Portland Housing Bureau (PHB) has announced $3.2 million in funding awards to rehabilitate three residential buildings and preserve 214 units of affordable housing:
PHB released a Request for Interest (RFI) in January 2017 for applications from owners of City-regulated affordable housing projects in need of significant repair or rehabilitation. Projects with a minimum of 40 units that were at least eight years old and had identified capital replacement costs greater than $100,000 were considered. The proposals were ranked and scored based on need for rehabilitation. Three were selected for funding this year by the Housing Bureau and Mayor Ted Wheeler.
“Like any capital asset, these buildings wear out over time and need to be repaired or rehabilitated to continue serving low- and moderate-income residents with safe, habitable housing,” said Mayor Ted Wheeler.
PHB regulates more than 13,500 affordable housing units in more than 350 buildings. Since it was established in 2010, the Bureau has released nine solicitations, primarily awarding funding to projects that would add new affordable units to the housing stock. Responses to those solicitations, however, have also indicated a great need to preserve existing stock as well.
“These three buildings serve an important part of our efforts to house families and individuals transitioning from homelessness,” said Shannon Callahan, Interim Director of the Portland Housing Bureau. “It is an important part of the Housing Bureau’s mission to preserve our community’s affordable housing stock.”