“One of the three priorities at the Portland Housing Bureau is promoting homeownership. This to make sure that hard-working families have housing choices throughout the city. The idea is, if a prospective homeowner seems to be ‘priced out of the market,’ they should be able to have choices throughout the City. We’re bringing homeowners to this neighborhood – and thus, stabilizing the neighborhood.” -Nick Fist, Portland City Commissioner
Proud Ground, a community land trust in Portland, Oregon, provides permanently affordable housing and access to home ownership for low and moderate income households. The land trust members are owners of a Proud Ground home or condo and general supporters from the Portland metro area. Proud Ground has helped more than 100 families become homeowners. The community land trust model is a unique model that addresses affordability not just for the first purchaser of a new home but for the resale purchaser several times over.
PCG’s loan supports the financing of new construction of 12 affordable homes in Portland, Oregon, within the Lents Urban Renewal Area. The project will be both transit- oriented and LEED platinum sustainability certified. It will also have a unique local zoning area developed to encourage family-friendly but dense urban infill, a demonstration for market rate developers. The project aims to ensure lower income homebuyers have the opportunity to live and stay in the neighborhood as the city’s rental rates rapidly increase.
