West Gresham Apartments
17257 E Burnside St
Portland, Multnomah County, Oregon 97233

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Funding Programs

West Gresham Apartments was developed and operates with Federal housing financing. The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit and Community Development Block Grant.

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 2004 for $322,620 with a 10 year value of $3,226,200. The property was placed in service in 2005. 26 of 27 units at West Gresham Apartments 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.

Community Development Block Grant

The property was financed with partial financing through the Federal Community Development Block Grant Program (CDBG) which provides general funding to local governments to help create affordable housing and economic development opportunities. West Gresham Apartments received $0 ($0 per unit) of financing through the CDBG Program.

Overview

West Gresham Apartments 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).

West Gresham Apartments is an apartment community containing 27 rental units. This property serves disabled persons. The property contains 30 bedrooms and based on typical apartment occupancy limits, West Gresham Apartments is home to not more than 48 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

West Gresham Apartments contains a mix of 27 assisted one and two bedroom apartments for rent. There are 24 One Bedroom and 3 Two Bedroom apartments in this property. The unit mix is 89% One Bedroom and 11% Two Bedroom apartment rentals. The average bedroom size for West Gresham Apartments is 1.11.

Oregon's 3rd

Congressional District

27

Total Units

26

Tax Credit Units

26

CDBG Units

One and Two

Unit Mix

1.11

Average Bedroom Size

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