As rising housing costs place increasing pressure on older Oregonians living on fixed incomes, a major rehabilitation project in Portland has secured the future of 233 affordable apartments, protecting an established residential community while extending long-term rental assistance and modernizing aging housing infrastructure.
A $72.4 million housing preservation project in downtown Portland has secured decades of affordable rental housing for hundreds of older Oregonians, completing a substantial investment in a 17-story residential tower that has provided housing for lower-income seniors for years. The reopening of Rose Schnitzer Tower, recognized by Oregon Housing and Community Services on October 26, represents a significant development in the state’s continuing effort to prevent existing affordable housing from disappearing as buildings age, operating costs increase and housing demand continues to exceed available supply.
Located at 1430 SW 12th Avenue, Rose Schnitzer Tower contains 235 apartments, including 233 income-restricted residences and two units designated for building managers. The property serves older adults and qualifying residents with disabilities, providing federally assisted rental housing in an urban environment where increasing property values and redevelopment pressures can threaten the long-term availability of affordable apartments…