Portland City Council has approved funding to build 176 new affordable housing units in the South Waterfront district of the city.
With a focus on housing families in need as well as veterans, the South Waterfront project will take shape on RiverPlace parcel 3. The site of the building is located near the Portland Streetcar, close to MAX transit and the Tilikum Crossing.
Of the 176 proposed units, 17 will have rent-freezes designed to work within low-income parameters. Nearly 50 of the homes will be “family-sized” and almost 20 of them will feature three bedrooms.
Twenty of the 176 homes will focus on “supportive services” for veterans currently or at risk of suffering from homelessness, according to the council announcement.
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This project makes use of less than $2 million of the $211 million in funds created for the 2018 Metro Bond agreement, in which 1,415 affordable housing options were proposed.
“Everyone deserves to have a safe and affordable place they can call home,” Mayor Ted Wheeler said. “This new project advances Portland’s work to create affordable housing options for all Portlanders in our highest opportunity areas. This project provides a new opportunity for low-income households to live and thrive in a neighborhood close to job opportunities, transportation, and downtown core.”
According to the announcement made by City Council today, construction at RiverPlace parcel 3 will begin some time next month.
“We’re pleased to be able to continue adding more affordable housing designed to meet the diverse needs of Portlanders,” said Portland Housing Bureau Director Shannon Callahan. “We’re especially glad to be providing a valuable community asset with on-site early childhood programming and a mix of two- and three-bedroom units that will allow more children and families to benefit from the amenity-rich area of the South Waterfront for years to come.”