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Portland City Council Approves Affordable Housing Incentives

On July 10th the Portland City Council voted  to support the creation of new incentives for affordable housing construction. Under the new incentive program, developers seeking to build to the maximum density currently allowed in the Central City would provide affordable housing within their project, or pay into a fund for the creation and preservation of affordable housing.

Based on average levels of development activity in the Central City, the bonus could result in as many as 60 additional units per year, or $120-200 million for affordable housing development and rehabilitation over 20 years.

Read about the new incentive program here. 

— Posted on 7/13/2015