Portland Affordable Housing Preservation Partnership

LOCATION
Portland, OR and SW Washington metropolitan areas

TYPE
Naturally occurring affordable housing

STATUS
Active Acquisitions
Current Portfolio:
4 Properties, 1960-70’s vintage

SIZE
263 affordable apartments

NOTABLE
Averaging 98% occupancy across 4 properties
All units leased between 61-70% of AMI

PARTNERSHIPS
Meyer Memorial Trust

Preservation of naturally occurring affordable housing

The Portland Affordable Housing Preservation Partnership (PAHPP) was formed in October 2019 and received its first investment of $20 million from Meyer Memorial Trust. Representing a new approach to preserving affordable housing, this activates a core objective of Edlen & Company to preserve naturally occurring affordable housing in the Portland and SW Washington metropolitan areas.

The purpose of the partnership is to identify, acquire, operate and preserve housing that is affordable to those earning between 60% and 120% of the area median family income. The intent is to maintain and hold these buildings over the long term to protect future affordable housing options throughout greater Portland and SW Washington, demonstrating an approach to affordable housing that represents a new model of impact-driven real estate investment.

To date, PAHPP has acquired four properties, including, Golfside Apartments located in Gresham, OR, Valley Park Plaza, in east Beaverton, OR, and Menlo Park Apartments and Morgan Place in Northeast Portland.