The Portland Housing Bureau is injecting a solid sum into the heart of Montavilla, right alongside the Jade District. A cool $2.65 million from Metro Affordable Housing Bond funds is rolling into Legin Commons, an up-and-coming affordable housing development, poised to erect 124 much-needed units for locals in need.
Here's the scoop on affordability: 20 units are pegging their rent to be attainable for those earning up to 30% of the Area Median Income (AMI), while 42 units will cater to those at 50% AMI, and a further 62 are set for households at 60% AMI. The mix is a calculated move, with a good chunk, 63 in fact – being two or three bedrooms to fit the family bill or even make room for the multi-gen setups. Despite some fuss over details, the Portland Housing Bureau estimates that this development will be a roof over the heads for about 298 low-income Portlanders at any given time and will serve potentially thousands over its 99-year stretch of affordable living.
According to the Portland Housing Bureau's announcement, it's not just numbers – it's about planting seeds for stable communities. The project is looking down the line, setting sights on a 99-year affordability period.
