Project name: Meridian Gardens

Location: Portland

Completion: September 2024

Size: 40,361 square feet

Owner: Central City Concern

Architect: Ankrom Moisan Architects

Interior Designer: Ankrom Moisan Architects

Engineers: Tapani Plumbing, Ecotope, MFIA

General Contractor: Walsh Construction

Submitting Company: Walsh Construction

Other Key Participants: Portland Housing Bureau, Multnomah County Joint Office of Homeless Services, Department of Behavorial Health Services, Oregon Housing and Community Services, US Bank, Umpqua Bank

Subcontractors: All Trades General Contractors, Ambrose Glass, Andres Landscape, Applied Technical Systems, AT Publix, B&T Striping & Curbing, Berrien Concrete, Best Cabinet & Granite Supply, Brothers Construction, Buffalo Welding, Castle Masonry & Restoration, Centurion Fire Protection, Civic Construction, Columbia Allied Services, Elemental Energy, G&L Janitorial, Gorilla Hardware, Ha’s Painting, Interior Technology, Jack’s Overhead Door, Kodiak Pacific Construction, KONE, Lauzon Contracting, Mt. Hood Corps., NW Umpqua Roofing & Waterproofing, PARCA Floors, Pioneer Sheet Metal, Pioneer Waterproofing, Point Monitor, Polaris Electric, RDF Builders, Sign Wizards, Specialized Pavement Markings, Standard TV & Appliance, Tapani Plumbing, Ultra Quiet Floors, United Brothers, Vale Insulation Group, WESSCO, WMX Construction, Zavala, Zochert Fence

A new affordable housing development in Southeast Portland is taking an innovative approach to addressing homelessness by combining permanent supportive housing with recovery services.

Meridian Gardens, the third phase of Central City Concern’s Division Street Campus, offers 85 units for individuals and couples experiencing or at risk of homelessness who are in substance use disorder treatment or recovery.

Located in the Powellhurst-Gilbert neighborhood, the development features Single Room Occupancy and studio apartments. Sixty-five units provide permanent supportive housing with federal rent assistance vouchers, while 20 homes are reserved for households with incomes between 31 percent and 50 percent of the area median income.

The project stands out for its holistic approach to housing instability, following the “housing first” model that prioritizes providing individuals with permanent housing as a foundation for addressing other challenges. By approaching affordable housing with holistic and integrated solutions, the project reduces the barriers to affordable housing and disrupts the cycles of instability that often accompany homelessness.

Meridian Gardens includes amenities designed to create dignified living spaces: shared computer workstations, recovery group rooms, trauma-informed design, and raised garden beds shared with a neighboring building. The Central City Concern’s Puentes recovery program provides culturally responsive services delivered by peer support specialists.

The development also demonstrates significant commitment to sustainability as Central City Concern’s first all-electric building. Sustainable features include solar panels, EV chargers, a heat pump hot water system, and mini-splits for every unit. The project even includes an emergency generator to increase building resiliency during power outages.

In collaboration with the Northwest Energy Efficiency Alliance and Portland General Electric, the project incorporates a monitoring system to collect data on energy use and equipment performance in low-income, mid-rise multifamily housing.

Transportation accessibility was another key consideration. Metro contributed $500,000 through its transit-oriented development program, supporting the creation of affordable housing near public transportation. The complex is located on Division Street, where TriMet’s FX2-Division high-capacity bus line offers service to Downtown Portland every 12 minutes throughout most of the day.

Critical partners in developing Meridian Gardens included the Portland Housing Bureau, Multnomah County’s Joint Office of Homeless Services, Department of Behavioral Health Services, Oregon Housing and Community Services, US Bank and Umpqua Bank.

Walsh Construction surprised the 30 percent MWESB goal on the project, achieving 36 percent.

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Three business partners who came together during the pandemic seek to transform the site of a shuttered Rite Aid store in Southeast Portland into a two-building multifamily development with at least 200 apartments.

The project at 2440 S.E. Cesar E. Chavez Blvd. comes from Seneca Development Co., which was founded in 2020 by industry veterans Michael Hamilton, Bryant Jaksic and Andy Schreck.

An early assistance request for the project’s first phase landed last week. Plans for the initial phase call for 120 apartments and ground-floor retail space.

A second phase would place 80-90 residential units in a building on an adjacent lot, also with ground-floor retail space.

The Seneca Development trio initially joined forces to build The Robert Apartments, a 55-unit building that was completed in Albina in 2022. After shepherding the project through construction and securing tenants, the developers began considering their next move. They turned their attention to the Richmond neighborhood, where a drug store had closed in 2023 at the highly trafficked corner of Southeast Division Street and Cesar E. Chavez Boulevard.

Seneca plans to close in August on the property, which is owned by a limited liability company linked to Tim Small of Portland.

The Division Street corridor has seen increased investment stretching from the Willamette River east to 52nd Avenue, a trend the Seneca partners noticed.

“We love the area,” said Hamilton, Seneca’s president. “All three of us are born-and-raised Portland natives. We like seeing the neighborhood improve. Housing is a huge need, so if we can develop quality housing that’s affordable for everyday Portlanders and contribute to the vitality of our city, that’s our goal.”

Seneca plans to construct the buildings in two phases. The first would be located at the Rite Aid site. The second would replace a surface parking lot north of Southeast Caruthers Street.

In compliance with the city’s inclusionary housing program, 10 percent of the units will be affordable for tenants making up to 60 percent of the area median income.

Both phases are being designed by Josef West of West Architects in Beaverton. Seneca will use its own in-house general contractor, Hamilton said. Lakeside Investment Group, based in Dallas, Oregon, is a partner in the project.

Seneca plans to break ground on the first phase in spring 2026, with completion expected in late 2027. The two phases will cost an estimated $50 million.

The project comes on the heels of another significant multifamily proposal in Southeast Portland. High Street Residential in March engaged in an initial design advice hearing for a 243-unit proposal in the Sellwood-Moreland neighborhood.

Portland has gained little multifamily housing in recent years, and Hamilton said the light pipeline provides an opening for new projects. Permit review times are growing swifter, interest rates have declined, and subcontractors are looking for work, Hamilton said.

“Frankly, the last two and a half years, it has been very difficult to get a market-rate project off the ground,” he said. “There is a massive shortfall with projects being submitted to the city for permit. Review times are speeding up because the city isn’t looking at a bunch of stuff. We’re already seeing softening when it comes to labor pricing. Our hope is we can time it right when it comes to permits.”

Data paints a picture of a stable multifamily market. Vacancy rates in the Portland-metro area grew to 8.9 percent in the first quarter of 2025, up from 8.1 percent a year earlier, according to Kidder Mathews. Properties’ rent prices were essentially unchanged, declining less than 1 percent to $1,872.

Average sale prices hovered near $180,000 per unit, at a 6 percent capitalization rate.

Seneca owns several other developable properties around Portland that it plans to build on when market conditions improve, Hamilton said.

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