Construction is officially underway in Beaverton on 54 new permanently affordable apartments funded by Metro’s Affordable Housing Bond. The Mary Ann Apartments, a four story building that will feature 39 parking spaces, a secure bike room, laundry facilities, and a community room, is expected to be finished in the fall of 2021.
REACH Community Development celebrated the beginning of construction with a virtual groundbreaking event on Friday, June 26.
"It is such an exciting moment to celebrate the groundbreaking of the first regional Affordable Housing Bond project,” said Metro Planning and Development Director Elissa Gertler. “It means that soon more families in Beaverton will have affordable homes, and soon, more families across the region will have doors of opportunity open to them as we see more groundbreakings and project openings this year.”
All rents at the Mary Ann will be affordable to families and individuals whose income is at or below 60% of the Area Median Income (AMI), and 20% of them will be made affordable to people making 30% or less of the AMI. It was initially approved as one of the four Phase 1 projects green-lighted by the Metro Council in 2019.
Approved by voters in November 2018, the regional Affordable Housing Bond will create permanently affordable homes for approximately 12,000 people in greater Portland. The $652.8 million bond aims to create 3,900 new homes, reserving 1,600 of them for people who earn very low incomes ($26,000 or less per year for a family of four).
Half of the homes built through the Affordable Housing Bond will consist of apartments big enough to accommodate families. The Mary Ann is an example of this, with more than half its units featuring two or more bedrooms.
“The COVID-19 pandemic has only underscored the vulnerability of many in our community, and the need for safe, stable, and affordable housing,” said Metro Councilor Craig Dirksen. “This is an important milestone to celebrate in our efforts to help everyone have a safe, stable home. We at Metro are tremendously grateful to the voters, taxpayers, and our government and non-profit partners who have made this project possible.”