We are pleased to present the 2017-18 Annual Report on the progress that has been made under Portland's Housing Bond. In November 2016, Portland voters resoundingly approved a bond measure dedicating $258.4 million over seven years to creating 1,300 homes for our neighbors struggling to afford a place to live.
The Portland Housing Bureau has taken two key approaches to delivering on this promise: we are building new housing in neighborhoods with good access to public transit and other amenities; and we are purchasing existing buildings to convert into permanently affordable homes, renovating them as needed to ensure they provide safe housing that is built to last.
This 2017-18 report shows progress toward our goals and it also shows that we are building momentum, nearly doubling our portfolio in just the last half of 2018. Above all, we've worked closely with our Bond Oversight Committee to ensure these investments reflect the values and priorities of the community they were meant to serve. We look forward to continuing to build on this progress in 2019.