Silvercrest Residence
1865 Ne Davis St
Portland, Multnomah County, Oregon 97232

Request an Application

Funding Programs

Silvercrest Residence was developed and operates with Federal housing financing. The property utilizes the Section 202 Federal housing program to make rent affordable to lower income tenants.

Section 202

The property was developed with funding through the HUD Section 202 program which provides funding for housing for seniors who are 62 or older. The program provided both capital financing to construct the property and operating subsidies that work as rental assistance like the Section 8 program. Silvercrest Residence is among only 79 Section 202 properties in Oregon and 6,166 in the country.

Overview

Silvercrest Residence 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).

Rent Subsidies

Silvercrest Residence provides rental subsidies to renters. The type of subsidy provided to apartment renters in Portland, OR by this property is Section 202 Rental Assistance.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is no minimum rent at this property for residents receiving a rent subsidy but in recent years, there has been discussions in Congress to implement a minimum rent in the Section 202 Program to reduce cost burden on the Federal budget.

Oregon's 3rd

Congressional District

75

Section 202 Units

75

Senior Units

55.9

% of Fair Market Rent

31-Jan-17

Project Based Sec. 8 Contract Expiration

Find More in Portland

Search Nearby Affordable Housing

Find More in Multnomah County

Search Nearby Affordable Housing

Find More in Oregon

Search Nearby Affordable Housing

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