Portland City Council Approves $51 Million Affordable Housing Plan

The Portland City Council took a step toward solving its affordable housing crisis on Wednesday by approving spending $51 on an apartment complex in the northeast part of the city. The money will go to turning The Ellington into affordable housing.

The city will spend $47 million on the 263-apartment complex at 66th Avenue and Halsey. Four million will go to closing costs and repairs.

The Ellington - currently only 44 of its apartments are set aside for affordable housing - will be changed so that two-thirds will be available for residents making no more than 60 percent of the median income for city residents. One third will be set aside for those who make no more than 30 percent of the median income.

The plan is part of the city's larger program to increase affordable housing, which includes a recently approved $258 million bond act.

Since that bond money will not be available until next summer, the council also approved a short-term line of credit so work can begin. When the bond money becomes available, it will be used to pay back the line of credit.