M Carter Commons is a new affordable senior apartment development on N. Interstate Avenue adjacent to Overlook Park. The project is being co-developed and will be co-owned by the Urban League of Portland(UL) in collaboration with Northwest Housing Alternatives (NHA). The project will provide 62 affordable, fully accessible units to serve residents 55 years and older. In addition, the new building will include an on-site manager’s unit, community room, property management and resident services offices, laundry facilities and a protected entry courtyard. UL will lead community outreach and provide culturally specific and responsive resident services incoordination with NHA’s Resident Services team. NHA will lead housing development and also provide asset management and resource development throughout development and into operations.
The site is a gently sloping .31 acre site that over looks the park and has views to the river and downtown. There is a light rail stop along the eastern side of the site which provides direct access to neighborhood services and amenities as well as connections to downtown and regional mass transit. The site is across the street from Kaiser Permanente’s Interstate campus and located within the historic Black Albina District. The project is ideally located for affordable, senior housing and will focus on attracting and serving BIPOC households who want to remain or return to the neighborhood by utilizing the N/NE Preference Policy.
The project will be developed with a variety of funding sources including 4% LIHTC, Tax Exempt Bonds, PHB gap financing, Energy Trust of Oregon and Portland Clean Energy Funds. Additional sources such as OAHTCs and TOD funds are also being explored to complete the funding package.
Population Served
21 of the units will be for households at 30% AMI and below. 11 of the units will have Project-Based Vouchers attached.
Services
The project will be developed through a co-development and co-ownership model between UL and NHA. UL will provide outreach and resident services and NHA will provide development, asset management, resource development and resident services support.
Special Features
The project centers equity and racial justice through the partnership between UL and NHA. Outreach will focus on the BIPOC community of N/NE Portland. Goals for MWESB utilization include 30% for professional services and 30% for construction.
