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A new $93 million project to provide 365 apartments, most of them in the affordable range, is being planned for the South Waterfront area in the North Macadam Urban Renewal Area.

The project was announced by the Portland Development Commission and the Portland Housing Bureau after it selected a request for proposal from the team comprised of the nonprofit Bridge Housing Corporation and Williams & Dame Development.

Plans call for 162 market-rate units and 203 affordable housing units, 238 parking stalls and 30,000 square feet of ground-floor retail at a 2.01-acre site at 2095 S.W. River Parkway. Ankrom Moisan Architects will serve as the project architect.

The RFP called for a minimum of 200 affordable housing units for families who earn up to 60 percent of the median family income, with up to 90 of the units reserved for households earning less than 30 percent of the median family income ($24,250 or below for a family of four). Home Forward has committed to dedicate 80 rent-assistance vouchers to the project, including 10 units for homeless veterans.

City Commissioner Dan Saltzman, who oversees the city’s Bureau of Development Services, said he feels confident the city and the development team will reach a satisfactory negotiation, but couldn’t say how long that process would take.

鈥淭his is offering hundreds of new affordable housing in a great neighborhood with lots of amenities,鈥� he said. 鈥淚t feeds into great schools, (and is) close to great transportation access that will be even better when Tilikum Crossing opens.鈥�

Saltzman said reaching this point in planning the new apartments is the result of 聽several years of effort by the city and stakeholders. He emphasized that the project is in line with the city’s commitment to diversity neighborhoods and keep affordable housing from being pushed to the outskirts of the city.

鈥淭hey will be able to take advantage of all the Central City has to offer with some of the best schools in the city,鈥� he added.