Interstate Corridor URA:
Patton Park Apartments

PDC provided $4.5 million in tax-increment financing to construct the Patton Park Apartments, now owned and operated by REACH Community Development Corporation. Located at 5272 N Interstate Avenue, the new rental housing has a fantastic location on the MAX Yellow line, across the street from Patton Square Park, and close to I-5 and Portland Community College Cascade campus. The five-story building features 54 apartments and 4,600 square feet of ground-floor commercial space. The apartments include one, two and three-bedroom units that rent at or below 50 percent of area median family income (MFI is currently $35,000 for a family of four).

Other features include a computer room, children’s play room, laundry facilities, and a rear parking lot built with permeable paving and stormwater bioswales. PDC partnered with TriMet in acquiring the property, formerly the Crown Motel, when the MAX Yellow Line was constructed in 2004. The total development cost of the Patton Park Apartments was $12.2 million.

Opening in February 2009, REACH CDC experienced quicker than anticipated lease-up of the residential units and commercial space. All of the apartments are leased, with a waiting list in effect. As of June 2009, Patton Park is home to 106 people. The ground-floor commercial space has two occupants: Proud Ground (formerly Portland Community Land Trust) and Aprende con Amigos (a Spanish-immersion pre-school).

REACH CDC has learned that over half of the building’s residents lived in the surrounding neighborhood immediately before moving to Patton Park. From anecdotal evidence, REACH also found that a significant number of other residents grew up in North Portland or lived there at an earlier stage – viewing Patton Park as a chance to come back to the neighborhood.

» You can find more information in REACH CDC's report to TriMet (PDF).

The Patton Park Apartments meet many goals of the Interstate Corridor Urban Renewal Plan, including:

• Benefit the Existing Community. Most of Patton Park’s residents previously lived in the surrounding neighborhood. Many seized the opportunity to either seek higher-quality housing here, or to move back into their old neighborhood after living elsewhere.
  
  
• Coordination. In addition to partnering with REACH CDC, PDC helped build the Patton Park Apartments with close coordination with TriMet, Metro, Portland Bureau of Development Services, and the Interstate Corridor Urban Renewal Advisory Committee.
  
  
• Stability/Sustainability. High-quality, affordable housing provides more housing choices for existing residents, mitigating gentrification and displacement. In addition, the building and site contain environmentally sustainable features such as stormwater infiltration.
  
  
• Optimize Light Rail Investment. Patton Park is a catalyst transit-oriented development that brings return-on-investment in terms of revitalization and transit ridership. 
  
  
• Focus Investment Along Interstate. The Patton Park Apartments join other neighboring investments along Interstate Avenue, including a complete renovation of Patton Square Park, a refurbished Interstate Firehouse Cultural Center, and improvements to the Trillium Charter School.
  
  
• Strategic Use of Resources. PDC’s $4.5 million contribution leveraged federal, regional, and private/non-profit funds to complete the $12.2 million project.

If you are interested in living at Patton Park Apartments or have other inquiries about the building, please contact Jesse Shumway at REACH CDC, 503-501-570. Also visit REACH’s Patton Park Apartment website.