Closing Announcement: Alberta Alive – Strong Property
August 23, 2024
We are very excited to announce the closing of the newest Alberta Alive project!
The Strong Property site is the third phase of the Alberta Alive vision, a partnership between Self Enhancement, Inc. and Community Development Partners with the shared goal of providing accessible, affordable housing to low-income African American families in North/Northeast Portland. Alberta Alive is dedicated to celebrating and strengthening Portland’s historically Black N/NE neighborhoods, which have suffered the harmful impacts of urban renewal.Located at the prominent intersection of N Alberta and N Williams Avenue, the development will provide 75 brand-new apartments, all of which will adhere to the City’s N/NE Preference Policy, ensuring equitable access to housing opportunities.
Once complete, the project will offer one-, two-, and three-bedroom apartment homes tailored to households earning 30% to 60% of the area median income (AMI). Designed with families in mind, 72% of the units include two or more bedrooms and up to 1,150 square feet. Featured amenities include multiple community gathering spaces, onsite management and resident services offices, vehicle parking, bike parking, and a central courtyard.
SEI provides culturally responsive resident programs and services tailored to each building’s unique population within the Alberta Alive communities. Services and programming at the Strong Property will be designed to ensure residents find a home that is not only welcoming, but also responsive to their needs. SEI programming includes youth services, family and parenting support, physical fitness and lifestyle classes, employment services, and connection to SEI’s numerous community and family programs.
The development was awarded to CDP and SEI in 2023 as part of the Portland Housing Bureau’s (PHB) 2022 Metro Bond Offering. Funding for the project includes $8.25M in Interstate TIF funds from PHB, $3.15M in Metro Bond funds, $2.9M in funds from the Portland Clean Energy Program (PCEF), 4% Low Income Housing Tax Credits (LIHTC) allocated by Oregon Housing & Community Services (OHCS) with tax credit equity provided by Hudson Housing Capital and Fannie Mae, and $200,000 in weatherization funds from OHCS. Additionally, the project received grants from the Energy Trust of Oregon (ETO) and the City of Portland’s Brownfield Program. Construction financing for the project is being provided by JPMorgan Chase and permanent financing is being provided by Citibank, NA.
The project was designed by Holst Architecture and is being built by Colas Construction Co. Guardian Management will be the property manager.
