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Government

Metro Housing Bond

  • Concept endorsements

    Gresham’s first solicitation for housing proposals was completed in the spring of 2020.  City Council recommended two proposals for endorsement: 

    • Albertina Kerr: The Albertina Kerr Workforce and Inclusive Housing investment will create 150 new affordable homes on Albertina Kerr’s campus at 722 NE 162nd.
      • Thirty of these homes will be universally accessible units for individuals experiencing intellectual and developmental disabilities.
      • The remaining apartments will be priced to promote greater workforce stability.
      • The new community will be the largest net zero energy affordable housing project in the Pacific Northwest.
    • Rockwood 10: A partnership between Community Development Partners and Hacienda CDC, Rockwood 10 is a new construction, 224-unit, multi-building community set around a new public park located at 740 NE 182nd.
      • The design will support a series of amenities within a park-like setting, including the preservation of a grove of mature Douglas fir trees.
      • Amenities include community garden space, walking paths, a food truck plaza, public art, play areas, and a public community center.
      • The City of Gresham housing bond program will fund the creation of 47 units with rents at 30% of area median income (AMI), of which 23 will be three-bedroom and four will be four-bedroom units

    Combined, Metro bond funds will invest in a total of 194 homes, or 104% of the unit targets for Gresham’s program (187). These investments will also satisfy 100% of the Metro requirements for deeply affordable housing (77), and 75% of the requirements for family-sized units of at least two bedrooms (70 of 93).

    Next steps

    The City anticipates at least one additional RFP to identify investments for remaining bond funds. Staff will work with City Council in 2021 to develop priorities for this RFP consistent with our local implementation strategy. A date has not been confirmed for the future RFP.

    Housing bond background

    In 2018, voters approved a $652.8 million affordable housing bond measure to create permanently affordable homes across Multnomah, Washington and Clackamas counties.

    Metro is working with local partners and communities across the region to develop 3,900 homes for seniors, working families, veterans and others who need them. Metro will implement the bond in partnership with the City of Gresham and six other jurisdictions, each with its own funding allocation and production targets.

    Metro housing bond website

    Metro's housing bond work plan

    Gresham’s local implementation of the bond

    The City has developed a local implementation strategy (LIS) to invest its share of the regional bond funds for safe and affordable housing within Gresham. This will likely result in approximately 2-4 housing sites for the creation of approximately 187 housing units. 

    • Project funding available to Gresham: $26.7 million
    • Target number of housing units: 187
    • Number of deeply affordable units: 77
    • Number of family-sized units: 93

    Gresham's local implementation strategy

    Contact

    For more information regarding Gresham’s implementation, contact us at HousingBond@GreshamOregon.gov.