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Home Forward has purchased a 47-unit multifamily building in Southeast Portland to provide permanent supportive housing to residents who are leaving chronic homelessness.

The acquisition of the Cesar Apartments ties to a shift by the Portland Housing Bureau to establish affordable housing by buying existing buildings in addition to building its own projects. The PHB supported the purchase by contributing $9 million, including $6.7 million in Metro affordable housing bond funds designated for permanent supportive housing projects.

鈥淟ast year, PHB began exploring whether we could bring much-needed permanent supportive housing online faster and at a lower cost than we usually achieve with new development,鈥� bureau Director Helmi A. Hisserich stated in a news release on Tuesday. 鈥淪o we were very excited when Home Forward, Metro and Multnomah County stepped up as partners on the Cesar Apartments acquisition.鈥�

Hisserich made clear that the PHB is seeking to add to its inventory.

鈥淲e look forward to announcing more acquisitions in the new year,鈥� he stated.

Using affordable housing bond dollars to buy existing buildings makes sense, Metro Councilor Duncan Hwang stated in the news release.

鈥淐hanges in the housing market have made it possible to create affordable homes at a lower cost to taxpayers with the purchase of pre-existing buildings,鈥� Hwang said. 鈥淚t鈥檚 great to see Portland using this opportunity to increase supportive housing for our region’s most vulnerable population.鈥�

The Cesar Apartments, at 1610 S.E. Cesar E. Chavez Blvd., stands four stories and comprises 23,796 square feet. Residences range from studios to two-bedroom units. The building was completed in 2022.

The project was developed by local developer Mark Madden鈥檚 WDC Properties and built by WDC Construction as general contractor. Studio 3 Architecture in Salem designed the building.

WDC Properties did not immediately respond to a message seeking comment on Wednesday.

The total purchase price was not available in Multnomah County records on Wednesday. But the county reportedly contributed $2.3 million to the transaction.

Rent assistance and supportive housing services funds from the Joint Office of Homeless Services will ensure on-site services at the Cesar include behavioral health resources, tenancy education and eviction prevention support.

鈥淭his is a smart project to bring more affordable housing online and I鈥檓 proud of the creative approach used to increase our supply of supportive housing,鈥� county Chairwoman Jessica Vega Pederson stated. 鈥淲ith housing supply at crisis levels, this will create 47 residences specifically for people experiencing chronic homelessness with the support our neighbors need to stay housed long-term.鈥�

Approximately half of the building鈥檚 units are vacant. Remaining residents will have the option of staying or receiving relocation assistance from Home Forward. New residents will begin arriving in June through referrals via the Joint Office of Homeless Services鈥� Coordinated Access program.

The Cesar is within walking distance of the Hawthorne commercial corridor, including a Fred Meyer grocery store and a variety of small shops and restaurants.