REACH CDC to Give Update on Kenton Project [Updated]

UPDATE: REACH CDC has informed the KNA that they have a budget shortfall of 5.9 million dollars. The N/NE Oversight Committee with the Portland Housing Bureau has recommended the city, which has already provided 10 million, fill this budget gap. The conversation is continuing between the city and REACH CDC on that possibility, so it’s currently unknown if that will happen or not. The project would break ground in early 2019 with funding. If the funding can’t be obtained, REACH CDC intends to build the project in phases.

The KNA Board has voted in opposition to having REACH CDC build the project in phases over concerns of when REACH CDC could actually finish the development and of when the justification for easing requirements for the project under the housing crisis loses merit as the development timeline moves further into the future.

As previously announced at last month’s general meeting, REACH CDC was not awarded anticipated state funding needed to proceed with their planned development of TriMet’s property at 2133 N Argyle St across from Nelson Plaza. Seeing that the project was in limbo, the KNA had REACH CDC postpone attending last month’s meeting until they had a better sense of the status of the project.

The KNA, as of this week, has confirmed that REACH CDC has news to share and will be attending the KNA Board meeting next Wednesday on July 11th, 7pm, at the Historic Kenton Firehouse (8105 N Brandon Ave).

While the KNA doesn’t know exactly what REACH CDC intends to share next week, the KNA is aware that REACH CDC was trying to look for additional funding from the Portland Housing Bureau and/or approval to build the project in phases.

Prior to this recent loss of funding, REACH CDC had to nix any commercial space from the development, which TriMet approved due to the city’s current housing emergency, via an affording housing exemption to Oregon’s prevailing wage law to cut costs, and while working with the KNA to attempt to find monies to fill that gap to pay prevailing wages and restore the commercial space, REACH CDC was unsuccessful in securing any additional funds.

Neighbors are encouraged to attend next week’s meeting to hear directly from REACH CDC on their plans for the project.

Previous coverage:

REACH CDC Kenton Project Update for March

REACH CDC’s Kenton Housing Development No Longer Mixed-Use

Neighbors Voice Concern about REACH CDC’s Development

Updates on REACH CDC’s Project at 2133 N Argyle St

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