BRIDGE Housing Acquires The Ramona, a 138-unit Affordable Apartment Building in Portland, OR

SAN FRANCISCO, CA, July 14, 2017—BRIDGE Housing, a leading nonprofit developer, owner and manager of affordable housing, has acquired The Ramona, a 138-unit affordable apartment building in the Pearl District of Portland, OR.

“The acquisition of The Ramona continues our investment in Portland, coupled with our geographic expansion, as part of our five-year strategic initiative,” said BRIDGE Housing President and CEO Cynthia Parker, who has deep roots in the region. “We’re eager to continue our work in Oregon, where BRIDGE is committed to partnering with the community on its mission of quality, quantity and affordability.”

Built in 2011, The Ramona offers affordable, family-sized apartments in an energy-efficient building. Certified LEED Gold, the property’s design outfitted the building to produce much of its own energy on-site with solar PV panels and solar thermal water heating. Additionally, a 31,000 sq. ft. eco-roof and a filter in the courtyard treat 100% of the stormwater on site.

The Ramona has over 14,400 square feet of neighborhood-serving community space. Tenants include Friendly House, a non-profit neighborhood center and the Portland Public Schools, which, due to rapid residential expansion within the school boundaries, moved all kindergarten classes from the local Chapman Elementary to The Ramona starting the 2016 school year.

BRIDGE recently completed construction on The Abigail, a 155-unit mixed-income family-oriented property with 128 affordable apartments, directly across the street from The Ramona. Also nearing completing is the rehabilitation of Woodland Park, 111-units serving families and senior/disabled households in Hillsboro, OR. Additionally, BRIDGE was selected by the Portland Development Commission and the Portland Housing Bureau (PHB) to develop RiverPlace Parcel 3, which will include 203 affordable and 177 market-rate units in Portland’s North Macadam Urban Renewal Area. PHB also selected BRIDGE to create 61 affordable apartments for low-income families at N. Williams Center in the Eliot neighborhood of Portland.

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