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Fifteen years ago, a vision plan for the Lloyd District called for housing to increase to 4,500 units. Today, there are only about 1,000 units inside the district’s boundaries, according to Rick Williams, executive director of the Lloyd Transportation Management Association.

鈥淲e’ve long had a housing goal in the district; unfortunately, we haven’t achieved it,鈥� Williams said.

However, progress is forthcoming. Last month, Civitas Development closed on a construction loan for an $8 million, 60-unit apartment project called Milano at the Northeast corner of Northeast Multnomah Street and First Avenue.

Developer Phil Morford said the team had to prove it had performed due diligence in order to obtain construction financing.

鈥淲e had to do significant (demographic) studies to make sure we’re building the right project at the right location,鈥� said Morford, who runs Civitas Development with business partner Konstantin Klebleev. 鈥淲e did some research on the existing housing in the area, and there’s very low vacancy and a desperate need for additional housing.鈥�

Financing was the biggest challenge for this multifamily development project and others in the works for Civitas, Morford added.

鈥淵ou hear the rumors that (financing) is getting easier, but when you start to get into the process, you find that it’s not,鈥� he said.

The small, 鈥渆fficiency鈥� studio and one-bedroom apartments at Milano will be targeted to young people, particularly cyclists, said Ankrom Moisan Associated Architects senior associate Ryan Miyahira. The development won’t officially be subsidized, 鈥渁ffordable鈥� housing, but Civitas plans to keep rates reasonable for the tenants.

鈥淲e’re looking for those people who don’t want to spend money on a luxury unit. It’s a smaller, very efficient design,鈥� Morford said.

Transit accessibility may also appeal to potential tenants. Only 13 parking spots will be provided; however, the design calls for 91 bicycle parking spaces, and public transit stops aren’t far from the site.

鈥淚t’s very near the transit mall for bus and light rail,鈥� Morford said. 鈥淲e thought it would be a great opportunity for a mass-transit, affordable-but-not-subsidized housing (development).鈥�

To hold its own in an area featuring the Oregon Convention Center, Veterans Memorial Coliseum and the Rose Garden arena, however, architects had to carefully consider scale.

鈥淭he idea is that even a six-story building can have a presence living in the land of giants,鈥� said Scott Waggoner, an Ankrom Moisan project designer. 鈥淓ven though we’re a little project, we want to fit in and stand out.鈥�

Architects are still playing with the color scheme and finalizing design, after receiving feedback from the city’s design commission, Miyahira said. Designers plan to use CERA-clad siding 鈥� a ceramic-coated panel system they say will give the building a clean, European look.

Following the design review process, contractor LCG Pence is expected to begin construction in January or February 2012. The apartments are scheduled to open about eight months later, Miyahira said.

The addition of 60 housing units may not be a big step, but it seems to be the right one for the Lloyd District, according to Williams.

鈥淲e need, want and desire good housing in the district that meets all of the income needs of our district,鈥� he said.