BRIDGE Breaks Ground on Portland-Area Affordable Project
The development received $32.8 million in construction financing.
Goldcrest Apartments. Rendering courtesy of BRIDGE Housing
Nonprofit developer BRIDGE Housing has broken ground on Goldcrest Apartments, a 75-unit affordable development in Beaverton, Ore. Salazar Architect is leading the design efforts for the project, while Colas Construction is the general contractor.
According to documents submitted to the Oregon Bureau of Labor & Industries, the developer received a total of $32.8 million in construction financing from various sources, including the City of Beaverton Housing Investment Funds, Key Bank and SDC Offset. Additional financial partners include Metro Affordable Housing Bond, Oregon Housing and Community Services, Washington County HPOF and the Energy Trust of Oregon.
As demand for low-income housing is on the rise, Goldcrest Apartments will serve residents earning between 30 and 60 percent of the area median income. Amenities at the upcoming development will comprise a ground-floor community room with shared kitchen, laundry rooms on each level, two elevators and indoor bike parking. The building is set to achieve Earth Advantage Platinum certification. Hacienda CDC will provide on-site resident services.
Part of the South Cooper Mountain community on the southwestern edge of Portland, Ore., Goldcrest Apartments is rising at the intersection of SW 172nd Terrace & SW Goldcrest Lane, as shown by Yardi Matrix. The site is in proximity of numerous green spaces, retail providers and schools along SW Scholls Ferry Road.
Earlier this month, BRIDGE Housing also broke ground on Potrero Block B, an upcoming 157-unit affordable community in San Francisco’s Potrero Hill neighborhood. The company also announced the opening of Hope Center, an affordable housing and homeless services center property in Berkeley, Calif.
