Low Income Housing Tax Credits
LIHTC Const/Freddie Mac TEL
The Project will consist of two buildings located in Portland, Oregon: 1) a new 6-story building (North Building); and 2) the conversion of the historic Buck-Prager building and the new construction 4-story addition to the historic building (South Building). The Buck-Prager building and South Building will be considered one building and will be on land with a long-term ground lease. The North Building will be on land purchased and owned by the Partnership. There will be 144 studio units restricted to households with incomes at or below 30% and 60% AMI and 2 one-bedroom non-revenue generating manager’s units. Of the 144 units, 48 units will be used as permanent supportive housing (PSH) intended to serve the homeless or those at-risk of homelessness (with a focus on those 55+). Resident services will be available to all tenants with more intensive program for the PSH units.