Affordable Housing for Public Benefit: a Comparison of Newly Constructed and Rehabilitated Developments in the North and Northeast Neighborhoods of Portland, Oregon

摘要

Rising property values and low vacancy rates have led to a high demand for affordable housing in Portland, Oregon. In order to fulfill this need, a strategy that considers development cost and potential benefits of affordable housing to the public must be put into place. In this report, I compare development cost and public benefit of two housing creation methods – new construction and rehabilitation – to determine ways to increase economic feasibility, as well as positive externalities of the development process. This inquiry is tested using a public benefit survey that was distributed to housing professionals working in Portland, Oregon. The results of the survey were then applied to four case studies developed in North and Northeast Portland, between 2005 and 2013, by a local community development corporation, Portland Community Reinvestment Initiatives, Inc. The results of this report contribute to the larger goal of creating a comprehensive affordable housing plan for Portland, Oregon, which emphasizes that anyone and everyone in Portland stands to gain from the provision of housing for all.