SALEM, OR-The State Housing Council this week approved the eventual sale of just over $20 million in General Obligation bonds to fund affordable housing projects in the Portland area.

Oregon Housing and Community Services Director Bob Repine says his department will provide $20,045,000 million to provide 298 affordable housing units for Oregonians with special needs. Repine’s department has selected two projects that will receive funds:

–A loan in the amount of $5.52 million will be made to Chestnut Lane Limited Partnership for the construction of an assisted living facility in Gresham. It will be the first of its kind in the Pacific Northwest targeting the housing and service needs of the elderly deaf and deaf/blind community.

–A loan up to $14.52 million has been awarded to Troutdale Terrace Apartments Oregon LP, for the new construction of the 228-unit garden style apartments on 14 acres that will be made available to low-income residents. The development received a previous reservation of four percent Low Income Housing Tax Credits in an approximate amount of $608,362 annually for 10 years.

Oregon Housing and Community Services is the state housing finance agency, providing financial and program support to create and preserve opportunities for quality, affordable housing for lower income Oregonians. The Department also administers federal and state anti-poverty, homeless and energy assistance community services programs.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.