The Portland Housing Bureau (PHB) recently unveiled the 2024 progress report on the city’s Housing Bond, and the numbers have quite a story to tell. Embarking on a mission set by voters back in 2016, the $258.4 million bond aimed to create 1,300 affordable homes for those struggling in the city. Now, nearly a decade later, those expectations have not only been met but surpassed, as detailed by a statement from Portland’s Housing Bureau.
Mayor Keith Wilson writes, “In 2022, the Bond entered its final phase, as the last of the funds were allocated.” It seems that PHB has been putting the pedal to the metal when it comes to delivering on their promises, with Wilson noting that the bureau produced “43% more affordable homes than initially promised.” With two additional projects currently in the construction phase, the city can boast the completion of 1,551 units across 13 projects, according to City of Portland.
For those who like to peer into the details, the report includes demographic data from eight open projects, financial figures, and glimpses into the lives of individuals who have been directly aided by the program. Among these are the stories of Zuri and Henry, both residents of Bond-funded projects that opened just last year. They now call the Hazel Ying Lee Apartments and Francis + Clare Place home, serving as a testament to the tangible benefits such initiatives can deliver…