PORTLAND, Ore. -- Just days after the City of Portland released its 2016 ‘State of Housing’ report, painting a grim picture of just how expensive the city has become for families, officials are offering up a glimmer of hope.
The Portland Housing Bureau announced Friday morning officials plan to buy Ellington Apartments, along Northeast 66th Avenue between Broadway and Halsey, using revenue from a $258 million affordable housing bond approved by voters in the November election.
“We’re going to acquire it as a means to prevent displacement of existing residents,” said Housing Commissioner Dan Saltzman. “But also we’re going to keep the units affordable, and we’re going to make more units affordable.”
Ppl at Ellington apts finding notices on their doors. City wants to buy this place w/ affordable housing bond $. pic.twitter.com/sYDLRheVnl— Maggie Vespa KGW (@Maggie_Vespa) December 3, 2016
A woman living in the complex told KGW that rent for a three-bedroom apartment at the Ellington complex is $1,700/month.
Saltzman said for some units, tenants should expect to see rents drop.
“We’re also going to make sure we have about 80 units that are for very low-income people, those making sort of zero to thirty percent of the average median income,” he said. “It’s about 263 units on eleven acres of land. Someday it will have a great redevelopment potential, too, so it’s really good that it will be under city ownership."
In a notice taped on residents’ doors Friday said the city planned to finalize the deal by February of 2017.