NE PORTLAND, OREGON
Goal: Acquire a former church building in a high priority area of Northeast Portland to build upon and stabilize the Seller’s non-profit arts organization to create a positive social impact and preserve affordable arts space that will be synergistic with CDP’s Alberta Street developments.
Located in the heart of Northeast Portland, the Alberta Abbey building is the former Mallory Avenue Christian Church which had been converted in 2013 to a neighborhood-based performing arts and artist office space to nurture and preserve the art scene on Alberta as gentrification was rapidly pushing artists out of the community. The Seller had created the Alberta Abbey Foundation to master lease and operate the building, but between a small and fragile Board of Directors and the Seller lacking the time and physical presence to invest the energy needed, the building and organization were both struggling to survive. The building also had potential to be listed on the national historic registry, potentially providing long term protection of the important asset as well as providing a conduit for historic tax credits which could bring valuable financing for improvements to the table.
The site was originally owned by the City of Oxnard, who donated the land to the Housing Trust Fund of Ventura County, and then entered into a ground lease with CDP and Mercy House. Funding for 2nd & B is supported by bonds, a 4% Low Income Tax Credits (LIHTC) allocation with equity investment by Red Stone, a $1.5M investment from the City of Oxnard, the State of California’s NPLH program for permanent supportive housing, and a Section 8 contract for 55 project-based vouchers administered by the Housing Authority of the City of Oxnard. Construction financing and permanent financing is being provided by Citi.
- Number of units: 56
- Lot size: .23 acre
- Total Building Size: 23,347 ft2
- Financing: Acquisition Loan From LIIF, HTC
- Architect: MWA
CDP is proud to partner with these organizations, who are critical team members that share our mission of enhancing quality of life for the communities in which we work.
Mercy House was founded by Father Jerome T. Karcher with a vison to serve the local homeless and at-risk communities. Since beginning services in 1990, Mercy House has grown from a single transitional housing program to a complete system of care designed to span the spectrum of services. These range from outreach and homeless prevention programs to emergency shelters and permanent housing, which incorporates both Housing First projects serving chronically homeless populations and affordable housing serving very low to low-income populations. On an annual basis, Mercy House programs and services touch the lives of over 7,000 adults and children across Orange, Los Angeles, San Bernardino, Riverside, Ventura, and Kern Counties in California as well as Maricopa County, Arizona. Our growth over our 30-year tenure has been tied to clarity of vision and purpose, always bearing in mind our ultimate goal: to end the homelessness of all who enter our unique system of care. To learn more, please visit: https://www.mercyhouse.net/
Ventura County Behavioral Health
The Ventura County Behavioral Health Department (VCBH) provides mental health and substance use treatment services. VCBH plays an important role as an integrated component of the Ventura County Health Care Agency. The Crisis and Referral Line is the entry point for access to all Ventura County Behavioral Health Services. Individuals needing health services or who are experiencing a mental health crisis should call this number. We are available 24 hours a day, 7 days a week. We provide support for individuals and families who are in crisis; people considering suicide; or those struggling with mental illness, substance use, or both. To learn more, please visit: https://vcbh.org/en/