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The Portland City Council is scheduled to vote Wednesday whether to formally approve the Housing Bureau‘s $3 million purchase of the Westwind Apartments in Old Town Chinatown.

Assuming commissioners give the go-ahead, the Housing Bureau will begin immediate 鈥渓ife, health and safety-related repairs while finalizing a longer-term development plan for the building and its residents,鈥� a draft ordinance states.

When the bureau first announced the acquisition in September, officials said a teardown of the 70-unit building would be likely. The 115-year-old building at 333 N.W. Sixth Ave. is in poor condition.

The building occupies a quarter-block parcel. The Housing Bureau estimates redevelopment of the property would cost approximately $21 million, which would be paid for with dollars from the $258.4 million affordable housing bond voters approved in 2016. Multnomah County has also pledged to contribute $4 million to the project.

The existing structure would be replaced by a building with affordable housing and supportive services. Residents could need to relocate, either temporarily or permanently, during the rehabilitation work, the draft ordinance states.

The city has until Nov. 30 to close the purchase from the owner, Westwind Building LLC. State records show the entity is associated with the Michael and Pennie Narver Trust, with an address in Newberg.