Center Village
5845 Ne Hoyt St
Portland, Multnomah County, Oregon 97213

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Funding Programs

Center Village was developed and operates with Federal housing financing. The property utilizes the Low Income Housing Tax Credit Federal housing program to make rent affordable to lower income tenants.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 1998 for $500,000 with a 10 year value of $5,000,000. The property was placed in service in 2000. 60 of 60 units at Center Village are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was not located in a Qualified Census Tract or a Difficult Development Area and was not qualified for additional tax credit funding.

Overview

Center Village is an affordable apartment community located in Portland, Oregon which is located in Multnomah County. The property is located in Oregon's 3rd Congressional District served by Representative Earl Blumenauer (D), Senator Ron Wyden (D) and Senator Jeff Merkley (D).

Center Village is an apartment community containing 60 rental units. This property serves all family types. The property contains 150 bedrooms and based on typical apartment occupancy limits, Center Village is home to not more than 300 persons when fully occupied.

Rental Subsidies

This property does not provide any Federal rent subsidies to renters reducing total tenant payments to 30% of their adjusted income. Renters are required to pay the full rent, even if it is in excess of 30% of their income. In some cases the property may accept Section 8 Housing Choice vouchers.

Unit Mix

Center Village contains a mix of 60 assisted two, three, and four bedroom apartments for rent. There are 32 Two Bedroom, 26 Three Bedroom, and 2 Four Bedroom apartments in this property. The unit mix is 53% Two Bedroom, 43% Three Bedroom, and 3% Four Bedroom apartment rentals. The average bedroom size for Center Village is 2.5.

Oregon's 3rd

Congressional District

60

Total Units

60

Tax Credit Units

Two, Three, and Four

Unit Mix

2.5

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data