Irvington 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 2000 for $384,897 with a 10 year value of $3,848,970.
The property was placed in service in 2002.
73 of 104
units at Irvington Village 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.
Irvington 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).
Irvington Village is an apartment community containing 104 rental units.
This property serves seniors. The property contains 31 bedrooms and based on typical apartment occupancy limits, Irvington Village
is home to not more than 119† persons when fully occupied.
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.
Irvington Village contains a mix of 104 assisted
studio and one bedroom apartments for rent. There are 73 Studio and 31 One Bedroom apartments in this property. The unit mix is 70% Studio and 30% One Bedroom apartment rentals. The average bedroom size for Irvington Village is 0.3.