To capture the progress, BRIDGE has published an online photo album featuring a number of project stakeholders and partners at the site.
The development will provide 178 affordable homes–studios, one-, two-, and three-bedroom apartments–to families with incomes of up to 60% of the Area Median Income. Amenities will include a community room/lounge with kitchenette, a landscaped courtyard and play area, common laundry rooms, 267 bike parking spaces, and 3,668 square feet of ground-floor commercial space.
“We’re excited to build out the underutilized parcel and deliver affordable homes to a neighborhood that offers great access to transit and jobs,” said Aruna Doddapaneni, Senior Vice President for BRIDGE.
“Quality housing that families can afford is a must for Portlanders working hard to pay the bills and enjoy a quality of life in every corner of our city,” said U.S. Senator Ron Wyden. “Today’s announcement about the next phase of RiverPlace takes a great step toward expanding the availability of affordable housing in my hometown, and I’ll keep battling for every possible federal resource to achieve that same goal in all of Oregon.”
Originally the location of the Harbor Drive expressway which closed in 1974, the area was redeveloped by the Portland Development Commission (now Prosper Portland) from whom BRIDGE Housing acquired the land. Riverplace Parcel 3 is the last remaining site in the RiverPlace neighborhood which now includes Tom McCall Waterfront Park, market-rate housing, hotels and offices. Construction began in December 2020 and completion is expected in Fall 2022.
Among the development’s financial partners are the Portland Housing Bureau, Oregon Housing and Community Services, Prosper Portland, Metro TOD Program, Barings Multifamily Capital, Bank of America, Home Forward, the U.S. Department of Housing and Urban Development, and the Veterans Administration. The architect is Ankrom Moisan Architects, Inc., and the general contractor is Walsh Construction Co.
For more information about BRIDGE, visit www.bridgehousing.com.
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