Portland breaks ground on affordable housing

Groundbreaking on the first affordable housing project in Portland’s South Waterfront District begins today, almost six years behind schedule.

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Groundbreaking on the first affordable housing project in Portland’s South Waterfront District begins today, almost six years behind schedule.

Completion is set for November 2012.

The $50.5 million project will feature 209 apartments, 42 of them for veterans. Public investments will cover nearly $29 million of the project cost, an upfront contribution that will subsidize expenses for renters.

“This is the project that no one thought we could pull off,” said city Commissioner Nick Fish, who oversees the Portland Housing Bureau.

Read more at OregonLive.com.

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