U.S. Bank partners with Urban League toward s affordable housing for the homeless
A new housing development for low income and disabled people in Portland, Oregon, welcomed more than 24 new residents on a recent wet spring day.
The Hattie Redmond apartments, named after Harriet (Hattie) Redmond, a late 19th century African-American suffragist and civil rights activist who lived and worked in Oregon, are now operating smoothly, thanks to a $9.6 million investment from the Low-Income Housing Tax Credit program and an $8.3 million loan from U.S. Bancorp Impact Finance, a branch of U.S. Bank.
“This project is located in Portland’s Albina District – a place that’s both historically significant and long recognized as an active hub for Portland’s Black and African-American community,” said Ann T. Melone, senior vice president and business development officer for Affordable Housing.
“We’re honored to support this model initiative, which addresses Portland’s houselessness challenge in a comprehensive and sensitive way.”
This project is a result of a big idea and an innovative approach. Home Forward, Portland’s housing authority, and the Urban League of Portland came up with this $25+ million project, which received financing from U.S. Bancorp Impact Finance. The building was also made possible by a 2018 Metro Housing Bond, provided by the Portland Housing Bureau, and funding from Oregon Housing and Community Services.
The Hattie Redmond units are all permanent supportive housing (PSH), which serve people who are leaving homelessness. The PSH model is a proven and effective way to help people who face chronic homelessness achieve stability. The referrals for the units come from Coordinated Access, a system that was created in 2018 in Multnomah County to simplify and ensure fair access to shelter and housing services for low-income and disabled people. One of the objectives of the project is to restore the connection of Black people to the community and to each other; Urban League staff provide supportive services in the building.
“Hattie Redmond Apartments is a model for how the City of Portland can make progress in housing people more quickly and with thoughtful community engagement,” said Ivory N. Mathews, CEO of Home Forward.
“This building will provide safe shelter to 60 formerly homeless people in need of culturally specific supportive services. From the location to services offered to building amenities, Urban League of Portland thought of everything. This gives us hope that many more people who have been homeless can— and will—thrive with the right support.”
Hattie Redmond is a four-story, 34,000-square-foot building on the Yellow MAX line. The residents share a community room/kitchen, conference room and laundry facilities on the first floor. Each studio has a full kitchen and bath as well as living space.
The floors are made of hardwood and the cabinets match. The building also has original artwork from six Black and brown artists that brighten up the place, including a portrait of Hattie Redmond. “Black Portlanders have been forced out of neighborhoods that used to be stable and welcoming for them for decades,” said Nkenge Harmon Johnson, President & CEO of Urban League of Portland while adding, “We also understand that more Black property owners and developers are essential for the solution. That’s why the Urban League decided to be co-developers of the Hattie Redmond Building and offer wrap-around services for the residents.”
U.S. Bancorp Impact Finance has collaborated on 95 affordable housing projects in the last 30+ years, investing over $492 million in equity and over $611 million in lending to create or renovate 9,000+ affordable housing units in the Portland area.
U.S. Bancorp Impact Finance also provides tax credit investments and syndications, lending and other financial solutions nationwide to help create affordable housing, stimulate economic activity in underserved communities, restore historic buildings, develop renewable sources of energy and strengthen Community Development Financial Institutions.
The Hattie Redmond apartments, named after Harriet (Hattie) Redmond, a late 19th century African-American suffragist and civil rights activist who lived and worked in Oregon, are now operating smoothly, thanks to a $9.6 million investment from the Low-Income Housing Tax Credit program and an $8.3 million loan from U.S. Bancorp Impact Finance, a branch of U.S. Bank.
“This project is located in Portland’s Albina District – a place that’s both historically significant and long recognized as an active hub for Portland’s Black and African-American community,” said Ann T. Melone, senior vice president and business development officer for Affordable Housing.
“We’re honored to support this model initiative, which addresses Portland’s houselessness challenge in a comprehensive and sensitive way.”
This project is a result of a big idea and an innovative approach. Home Forward, Portland’s housing authority, and the Urban League of Portland came up with this $25+ million project, which received financing from U.S. Bancorp Impact Finance. The building was also made possible by a 2018 Metro Housing Bond, provided by the Portland Housing Bureau, and funding from Oregon Housing and Community Services.
The Hattie Redmond units are all permanent supportive housing (PSH), which serve people who are leaving homelessness. The PSH model is a proven and effective way to help people who face chronic homelessness achieve stability. The referrals for the units come from Coordinated Access, a system that was created in 2018 in Multnomah County to simplify and ensure fair access to shelter and housing services for low-income and disabled people. One of the objectives of the project is to restore the connection of Black people to the community and to each other; Urban League staff provide supportive services in the building.
“Hattie Redmond Apartments is a model for how the City of Portland can make progress in housing people more quickly and with thoughtful community engagement,” said Ivory N. Mathews, CEO of Home Forward.
“This building will provide safe shelter to 60 formerly homeless people in need of culturally specific supportive services. From the location to services offered to building amenities, Urban League of Portland thought of everything. This gives us hope that many more people who have been homeless can— and will—thrive with the right support.”
Hattie Redmond is a four-story, 34,000-square-foot building on the Yellow MAX line. The residents share a community room/kitchen, conference room and laundry facilities on the first floor. Each studio has a full kitchen and bath as well as living space.
The floors are made of hardwood and the cabinets match. The building also has original artwork from six Black and brown artists that brighten up the place, including a portrait of Hattie Redmond. “Black Portlanders have been forced out of neighborhoods that used to be stable and welcoming for them for decades,” said Nkenge Harmon Johnson, President & CEO of Urban League of Portland while adding, “We also understand that more Black property owners and developers are essential for the solution. That’s why the Urban League decided to be co-developers of the Hattie Redmond Building and offer wrap-around services for the residents.”
U.S. Bancorp Impact Finance has collaborated on 95 affordable housing projects in the last 30+ years, investing over $492 million in equity and over $611 million in lending to create or renovate 9,000+ affordable housing units in the Portland area.
U.S. Bancorp Impact Finance also provides tax credit investments and syndications, lending and other financial solutions nationwide to help create affordable housing, stimulate economic activity in underserved communities, restore historic buildings, develop renewable sources of energy and strengthen Community Development Financial Institutions.
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