Portland saves 11 affordable housing buildings

Portland saves 11 affordable housing buildings

Portland's Housing Bureau preserved 11 affordable housing buildings over the past five years.

The bureau used $22 million in urban renewal funds and federal Community Development Block Grants in the effort. That leveraged $110 million in private investments and more than $120 million in guaranteed federal assistance during the next 20 years.

Most of the 11 buildings are downtown. They had been designated as affordable house for years but were due to lose their tax-exempt status in 2013. That would have allowed them to be converted to market race housing, displacing the existing residents.

Read more at The Portland Tribune.