Friday, November 14, 2014

$18 Million Boost for Affordable Housing in Portland and Hillsboro

Nonprofit housing provider REACH Community Development received good news and announced they have received approximately $18 million in tax credits and grants to help develop and renovate a combined 108 units of affordable housing. The properties including the Bronaugh Apartments in downtown Portland and the Orchards at Orenco-Phase II in Hillsboro.

The $18 million investment comes through a combination of 9 percent Low Income Housing Tax Credits, Oregon Affordable Housing Tax Credits and grants from Oregon's Housing and Community Services. More can be read in a recently published Portland Business Journal article.