The town houses will be contained in three two- and three-story buildings holding between 15 and 20 units each. Construction is expected to take about a year. The final phase will start by year's end. The 200-unit development should take about less than 16 months to complete.
When done, the Yards will hold 700 mixed units of housing. About 60 percent of the units will be targeted for those below the area's median income, while 40 percent will be market rate. Underground and private street parking will be available for roughly 500 cars. The project, which encourages use of public transportation, is linked to the downtown bus mall by a pedestrian bridge over the adjacent railroad tracks to the west.
The seven-acre site along Naito Parkway was once part of the rail yards, and was contaminated. The site recently was honored with a Phoenix Award in recognition of the cleanup and redevelopment.
GSL Properties Inc. is master developer of the Yards. Its affiliates will own the last three phases, which will include a small amount of retail space. The first phase, 156 apartment units, is owned by The Housing Authority of Portland.
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