NOAH Closes on First Land Acquisition
Thanks to a new partnership between the Network for Oregon Affordable Housing (NOAH) and the City of Portland, Habitat for Humanity Portland/Metro East has purchased a piece of land in the Cully Neighborhood which will be the future site of 15 new affordable homes for first time homebuyers.
The Portland Housing Bureau (PHB) announced on February 5th, 2016 that it had invested $1 million in the Oregon Housing Acquisition Fund (OHAF), a revolving fund administered by NOAH, a statewide nonprofit corporation that provides financing and technical assistance for affordable housing development. The fund was established so that developers could move quickly to acquire land for affordable housing development when opportunities become available. In a hot real estate market such as Portland’s, purchasing land for future affordable housing development is an important strategy and is seen as a key anti-displacement measure.
Since the fund was announced, NOAH has received several inquiries from local nonprofit and for-profit development entities regarding potential land purchases. NOAH is leveraging the City’s money with capital from Meyer Memorial Trust, the Mac Arthur Foundation, Oregon Housing and Community Services, private banks and NOAH’s resources. The City’s additional investment allows for flexible loan terms with minimal equity, bringing the down payment required from 20% down to 5%. It also lowers the interest rate from 5% to 2%.
Portland Parks & Recreation Welcomes Proposals for Activities, Small Businesses at Ankeny Square
Portland Parks & Recreation (PP&R) is looking for partners/vendors to help activate (hold activities and events at) Ankeny Square in the North Park Blocks, located at NW Ankeny and W Burnside. Successful proposers will pay only $1 a year (for up to two years) to rent the park space. PP&R welcomes creative ideas for cultural, retail and other possible endeavors at this bustling central city plaza. Proposals are due by April 20, 2016.
The idea for more cool happenings at the square came from neighbors and businesses surrounding the park, and is fully supported by Portland Parks & Recreation. PP&R would like to create positive experiences for the neighborhood and for visitors to the North Park Blocks. Across the PP&R system, programmed activities are found to create a vibrant, engaging, and positive environment for parks and neighborhoods. The bureau also suggests that this opportunity may also provide a way for micro-businesses to generate revenue.
More information on the Ankeny Square endeavor, including instructions on how to apply and the evaluation criteria, can be found on our website here.
PP&R hopes that the Request For Interest (RFI) encourages a competitive environment for this exciting opportunity. The bureau welcomes multiple proposals and is open to accepting several which could work in conjunction with each other (events/activities which could operate on different days, seasons, etc.) The RFI is designed to give all who may be interested an opportunity to suggest public-private partnerships, including those for permits or lease agreements depending on the nature of the response.
Ankeny Square is located between West Burnside and SW Ankeny, and between SW 8th Ave and SW Park Ave on the edge of the Pearl District in downtown Portland. Ankeny Square sits at the southern end of Portland's historic North Park Blocks, and has long been an integral part of downtown life. One of the city’s oldest public spaces, the North Park Blocks were dedicated to the City by Captain John Couch (yep, like the street!) in 1869.
This week, several maintenance crews including carpenters, painters, electrical and mechanical workers are sprucing up the PP&R buildings in Ankeny Square. Fencing is expected to be up for around two weeks as crews clean, paint, and shine up this historic space.
For more Portland and Seattle area events, check the Community Calendar.