City of Portland; Portland Devel. Comm.
4 Nw Second Avenue
Portland, Multnomah County, Oregon 97209

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Funding Programs

City Of Portland; Portland Devel. Comm. 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 1990 for $169,599 with a 10 year value of $1,695,990. The property was placed in service in 1992. 62 of 63 units at City Of Portland; Portland Devel. Comm. are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was located in a Qualified Census Tract qualifying it for additional tax credit financing.

Overview

City Of Portland; Portland Devel. Comm. 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).

City Of Portland; Portland Devel. Comm. is an apartment community containing 62 rental units. This property serves all family types. The property contains 62 studio bedrooms and based on typical apartment occupancy limits, City Of Portland; Portland Devel. Comm. is home to not more than 62 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

City Of Portland; Portland Devel. Comm. contains a mix of 62 assisted studio bedroom apartments for rent. There are 62 Studio apartments in this property. The unit mix is 100% Studio apartment rentals. The average bedroom size for City Of Portland; Portland Devel. Comm. is .

Oregon's 3rd

Congressional District

62

Total Units

62

Tax Credit Units

Studio

Unit Mix

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