Portland Housing Bureau Awards Over $40M to Home Forward and Urban League for 230-Unit Affordable Housing Development in the Broadway Corridor

The Portland Housing Bureau has awarded approximately $42 million to a joint venture of Home Forward and the Urban League to develop a 230-unit affordable housing project in the Broadway Corridor. This 14-story mixed-use development will serve as a cornerstone for the new neighborhood, providing essential services and housing for low-income residents. The project will include a range of unit sizes from studios to three-bedroom apartments, with a focus on families and larger households. Specific provisions have been made for extremely low-income residents, with 39 units regulated at 30% Area Median Income and offering rent assistance. Groundbreaking is slated for summer 2026, with an expected completion date in summer 2028.

PHB Director Helmi A. Hisserich highlighted the proposal's thoughtful design and commitment to community service. Home Forward CEO Ivory Mathews expressed enthusiasm for creating a vibrant, diverse neighborhood that prioritizes affordable housing. This development is a crucial step in addressing Portland's housing crisis and ensuring equitable access to quality living conditions for all residents.