By: Chuck Slothower//April 2, 2024//
Four development teams with local ties responded to the Portland Housing Bureau’s request for qualifications to build affordable housing on an approximately 41,000-square-foot parcel in the Broadway Corridor.
The teams are:
The site, known as parcel 4a, is bounded by Northwest Ninth Avenue, Johnson Street, Park Avenue, and a half block that will be developed later in the Broadway Corridor build-out, sometime after 2032.
The height of the development on the site must be from 100 feet to 250 feet.
The Housing Bureau plans to announce the award in June. Construction of the affordable housing development is expected to begin in early 2026.
Upon award, the Housing Bureau will make available up to $41.75 million in Metro affordable housing bonds, up to $4.5 million in River District tax increment financing and up to 10 percent of hard construction cost for eligible uses from the Bureau of Planning and Sustainability, as well as the site itself.
“The Housing Bureau is proud that these strong development teams responded to our RFQ and are now competing for this premier site,” Housing Bureau Director Helmi A. Hisserich stated in a news release. “We are eager to review their proposals, and to get to work alongside them to bring hundreds of affordable homes to Prosper Portland’s exciting Broadway Corridor redevelopment. Soon, families in need will be able to find stability and community in the heart of Portland.”