January Newsletter: Bond Highlights for 2024
Dear Portlanders,
2024 was my first year as director of the Portland Housing Bureau (PHB). When I arrived in February, I was immediately impressed
by PHB's dedication to the efficient production of desperately needed affordable housing. This is especially evident in how the team has managed Portland's Housing Bond, leveraging millions of dollars to significantly exceed all major goals for the Bond.
The work that PHB has done in implementing this Bond is a gold standard for public service: producing 43% more affordable homes than initially promised; nearly half a billion dollars into the local economy, while ensuring that over 30% of contracts go to minority-owned businesses; and expanding socioeconomic opportunity for low-income families by siting developments near education, employment, transit, and other critical amenities. All this, and the Bond has passed every audit with flying colors. Thank you to the voters of Portland for passing this bond in 2016, and for putting your trust in us to deliver the housing this City needs.
Last year was a great one for the Bond. In May, we saw the grand opening of 206 new affordable homes in the Hazel Ying Lee Apartments in Creston-Kenilworth, a beautifully and thoughtfully designed project with ample on-site amenities for families. In August, we celebrated Francis + Clare Place's opening of 61 units of Permanent Supportive Housing for individuals exiting homelessness to Buckman, near services, transit, parks, jobs, and more. And in November, HollywoodHUB broke ground on 222 new affordable homes at the former site of the Hollywood Transit Center, meaning that all fifteen Bond projects are now open or in construction.
With the winding down of Portland's Housing Bond, as well as the Metro Housing Bond, finding new funding to build upon this forward momentum will be critical in the next few years. These 1,859 affordable homes will provide secure, dignified housing for tens of thousands of Portlanders over the next century. Let's not stop there — let's continue this essential work to meet the needs of our community.
Sincerely,
Helmi A. Hisserich
Director, Portland Housing Bureau
2024 Highlights
The Hazel Ying Lee Apartments Open
In June, we celebrated the grand opening of the Hazel Ying Lee Apartments, a new 206-unit development in Creston-Kenilworth. Developed by Home Forward, the project contains 30 units of Permanent Supportive Housing served by IRCO and Multnomah County's Homeless Services Department.
Hazel Ying Lee includes a computer room with Wi-Fi, playroom, outdoor playground, large community room, and a large courtyard with BBQs and raised garden beds. It's conveniently located near grocery stores, parks, and frequent transit.
Francis + Clare Place Welcomes Residents
Then in August, Francis + Clare Place opened its doors, bringing 61 units of Permanent Supportive Housing to the amenity-rich Buckman neighborhood. Developed by Catholic Charities and Edlen & Co., the homes at Francis + Clare Place all include Project-Based Section 8 Vouchers and wraparound supportive services for residents exiting chronic homelessness.
Amenities at Francis + Clare include a community space/classroom, a quiet relaxation room, and trauma-informed design for formerly homeless residents. It is adjacent to a large outdoor plaza, and located near workforce training opportunities, groceries, and frequent transit lines.
Construction Begins at HollywoodHUB
The last major milestone of the year came in November, with the financial closing of HollywoodHUB, a 222-unit development from BRIDGE Housing that weaves together Portland Housing Bond and Metro Housing Bond funds. This is PHB's largest new construction project to date.
Located on the former site of the Hollywood Transit Center, residents at HollywoodHUB will have fantastic access to the MAX and multiple bus lines, as well as grocery stores, parks, and other essential amenities. 125 units will contain 2-3 bedrooms for families, and 55 units will be supported by Project-Based Section 8 Vouchers, with services provided by Impact NW. The project is expected to open in early 2027.