For the better part of 2018 and 2019, the city’s housing authority, known as Home Forward, will build a 12-story, 240-unit apartment building with commercial space on the ground floor on Northeast Grand Avenue between Hassalo and Holladay streets. The $46.5-million construction will be funded by the city, low-income tax credits, private activity bonds, Home Forward equity and conventional debt.
The studio, one-bedroom and two-bedroom apartments will be offered to renters making below 60% of the area’s median income. Building construction will begin in early 2018, the exterior is planned to be complete by May of 2019, and the units are predicted to be 100% occupied by June of 2020. The building will be within walking distance of TriMet’s MAX, Portland Streetcar and stops for bus lines 6 and 77.