January Newsletter: 2023 Highlights for Portland's Housing Bond

Friends and Neighbors,

It’s a new year, and while I want to take this opportunity to reflect on how important 2023 was for Portland’s Housing Bond, my thoughts are also with those whose homes were damaged by our recent ice storm, and with our neighbors who had to endure the snow, freezing rain, and frigid temperatures on our streets. We must fight for a city where our residents, housed and unhoused, are protected from the increasingly extreme weather brought about by climate change. I believe that Portland’s Housing Bond is a critical investment in this fight.

In 2023,four Bond-funded projects opened their doors, containing 431 homes for more than 750 Portlanders in need. Of these homes, 142 are designated Permanent Supportive Housing (PSH), with wraparound services for formerly homeless individuals and those living with disabilities.

An additional two projects broke ground thanks in part to Bond funding: Francis + Clare Place, which is expected to open later this year, and Alder 9, opening in 2025. Together, these two projects contain 225 homes for more than 340 Portlanders. That means 14 out of 15 Bond projects are now open or in construction, with the 15th, hollywoodHUB, expected to break ground this fall. With the last of the Bond funds awarded in February 2022, Portland Housing Bureau is now working closely with our developer partners to get these projects constructed and open.

In 2016, when Portland voters approved the Bond, we committed to supporting 1,300 new affordable housing units with those funds. When the Hazel Ying Lee Apartments opens this spring with 206 affordable homes, we will have opened 1,490 units, with three more projects still to come online. And when all is said and done, the Bond will have produced 1,859 affordable homes for the most vulnerable among us — a whopping 43% more than our original promise. All of these homes will be guaranteed affordable for 99 years.

Portland’s Housing Bond has been a transformative tool in the fight for a more affordable city for all of our residents. Its impact will reverberate for generations to come for families working to gain stability and security so they can pursue their dreams. Thank you to the voters of Portland for investing in this critical resource. Stay tuned for the 2023 Portland Housing Bond Annual Progress Report later this spring, when we’ll hear from residents whose lives have been permanently changed by your commitment, and dig deeper into the buildings they call home.

Gracias,