April 22, 2016
Portland, OR’s Housing Bureau has awarded $47 million in local and federal funds to eight affordable housing project proposals throughout the city. The award is the largest in the bureau’s history, with the expectation that the projects will deliver 585 new units of affordable housing.
Approximately 120 of the units would be geared to those earning up to 30% of the median family income, which translates to $15,400 for individuals and $24,300 for families of four.
The awards include $5 million for 72Foster, which will offer 208 new affordable units on southeast Foster Road, $9 million for 76 units situated on northeast Martin Luther King Jr. Boulevard, and $12.9 million for capital renovations at The Henry, a Central City Concern project.