Colas, PCRI Begin Construction of New Rental Homes

November 23, 2015 · by pcriadmin · Featured, Pathway 1000, PCRI

Colas Construction and PCRI began development of affordable rental homes on two sites in Northeast Portland in November, 2015. Six new three-bedroom, two-bath townhouses are anticipated for completion in spring 2016 and will be available to rent by families earning up to 60% of Area Median Income (AMI – additional information is available HERE).

IMG_0647Work for the new homes began with deconstruction of an existing home, made possible in part by a grant from the Portland Bureau of Planning and Sustainability. When it was determined that the existing rental home on the site wasn’t practical to rehabilitate, we looked to deconstruction (rather than demolition) as a way to keep valuable building materials out of the landfill and reduce the disturbance for neighbors as well as the impact on the environment.

Site preparations are now being made for the new homes. The new townhomes are designed to fit with the existing neighborhood scale, improve the properties that were vacant or underutilized, and provide the community with needed housing that is affordable to working families in Northeast Portland.

The new homes are part of PCRI’s Pathway 1000 Initiative, a response to involuntary displacement of families from North and Northeast Portland neighborhoods where affordable housing has become increasingly difficult to find or maintain. These new home will help ensure and expand the availability of affordable rental housing in neighborhoods where community resources are robust, schools are easily accessible, and transit services are frequent and readily available.

The project will also provide good-paying jobs for its workforce and opportunity for historically underutilized firms. Construction work performed by certified minority/women-owned and emerging small businesses (including general contractor Colas Construction) is anticipated to exceed 40% of all construction costs.

In addition to the deconstruction grant mentioned above, funding for this project is provided by Portland Housing Bureau, the U. S. Department of Housing and Urban Development (HUD), construction and permanent financing from Pacific Continental Bank, equity invested by PCRI, and the use of energy-efficiency incentives from the Energy Trust of Oregon.

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