Tripling Affordable Housing Funding in South Waterfront

At Sam's urging, the Mayor and City Council directed PDC in December of 2005 to negotiate a new funding package with South Waterfront property owners that included a significant increase in affordable housing. As a result, in April City Council approved $18 million in new dollars for affordable housing in South Waterfront, bringing the total allocation to $25.7 million, which will fund 3-5 projects and funds completion of the first 200-unit project by 2009.

Thanks to this new funding agreement, South Waterfront will be a neighborhood not only for lawyers and doctors that serve OHSU and elsewhere, but also nurses, support staff, and most anybody who chooses to live there. This will be a real neighborhood, with housing options for a breadth of income levels, parks, a streetcar line, and a tram for all Portlanders.

Relevant Documents

• City Council Memo to PDC regarding funding negotiations

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