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Isabella Court II community room
Isabella Court II community room
Isabella Court II brings 49 affordable sustainable homes to Vancouver (Photo) - 08/15/19

PORTLAND, Ore. –August 15, 2019 —REACH Community Development (REACH) and community members celebrate the completion of Isabella Court II, the second of a phased affordable apartment development in Vancouver, WA. Grand opening festivities will take place on Saturday, August 17th at 11:00 am at 3020 NE 62nd Ave, Vancouver with refreshments, brief program, and self-guided tours of the building.

This is REACH’s seventh apartment community in Southwest Washington and REACH's first project to incorporate the 2016 voter approved City of Vancouver Affordable Housing Fund.

“The need for affordable apartments is very high in Vancouver and finding family sized apartments is even more challenging,” says REACH CEO, Dan Valliere.  “Isabella Court II is a step towards filling that critical need for Vancouver and we are grateful to our partners for helping get this development across the finish line.”

Located on the Fourth Plain Corridor, the new building is adjacent to Isabella Court I, which is home to residents 62 years of age or older. Isabella Court II is a four-story building with 49 apartments serving the needs of Vancouver’s families experiencing homelessness or at risk of becoming homelessness. The building includes 34 one-bedroom and 15 two-bedroom apartments; with rents affordable to families who earn 50% or less of median family income—$43,950 or less annually for a family of four. Additionally, 30 of the apartments include a project-based rental subsidy from the Vancouver Housing Authority, making them affordable to households earning 30% or less of median income ($26,370 or less annually for a family of four).

“I’m excited for the inter-generational community that will develop here between our two buildings,” says Valliere. “This new community creates many opportunities for collaboration, mutual support, and mentoring for the families moving into this new building.”

The $13.9 million project is financed with funding from Bank of America Merrill Lynch, City of Vancouver Community and Economic Development, Clark County Community Services, NeighborWorks® America, Raymond James Tax Credit Funds Inc., U.S. Department of Housing and Urban Development, Vancouver Housing Authority, Washington State Department of Commerce, and Washington State Housing Finance Commission. The building is designed by MWA Architects with construction by TEAM Construction.

 

About REACH CDC

Since 1982, REACH has built innovative and affordable apartment homes for low-income families and individuals in the metropolitan region. REACH, a NeighborWorks® member, develops and manages affordable housing and provides supportive services to residents, and helps low-income senior homeowners maintain their homes with free home repairs and accessibility upgrades. Today, REACH stewards over 2,400 apartments, including single family homes, apartment buildings and mixed-use developments located across the Multnomah and Washington Counties in Oregon and Clark County in Southwest Washington. REACH has won numerous state and national awards for its creative approach to building healthy communities and its innovative housing projects. More information available at http://reachcdc.org.

 

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Local Businesses Set up Shop at 72Foster Retail Space in SE Portland - 07/26/19

PORTLAND, Ore. –July 26, 2019 —REACH Community Development (REACH) recently celebrated the grand opening of 72Foster, an intergenerational, mixed-use building, creating 101 permanently affordable housing serving both seniors and families. Over 70% occupied, apartment sizes range from studios to 3-bedrooms. Building on the success of Hacienda CDC’s adjacent Portland Mercado and the recently completed Foster Road streetscape improvements, 72Foster also provides 8,900 sf of ground floor retail to serve the growing neighborhood.

72Foster emphasizes REACH’s goals of providing transit-oriented affordable living, while building a vibrant community. The commercial space is targeted to local businesses with the goal of attracting a mix of food businesses and neighborhood serving retailers/services that reflect the diversity of the southeast Portland neighborhood. Current retail tenants are all locally owned and operated businesses in Portland, OR. This includes Pizzeria Otto, Red Castle Games and Tea & Tea.

Pizzeria Otto is a family friendly old-world Neapolitan pizza joint, obsessively devoted to the craft of pizza making. Opening its doors in early Fall, this will be the local pizzeria’s second location. “We are thrilled to have a spot in the thriving Foster road neighborhood, especially since it’s where we live too,” says founding owner, Clark Hale. With more than 80 seats in a 2,300 square-foot space, the new restaurant will be approximately double the size of the original on NE Sandy.

Red Castle Games will be relocating its store to the 72Foster ground floor, expanding its business specializing in board games, card games, role-playing games, and tabletop miniatures games. A local favorite, Red Castle Games provides a pleasant, inviting location for customers to become part of a growing community and to discover games new and old. “We're very excited to be a part of this beautiful new space and look forward to providing fun gaming experiences for everyone” says owner, Matthew Micetic. Red Castle Games anticipates opening at its new location in early 2020.

Tea & Tea is a tea shop featuring the popular Taiwanese bubble teas and fruit flavored iced teas. It provides the community a place to hang out and enjoy fun drinks with friends and family. The shop will open in the early fall.

There is one retail/restaurant space available. For more information or commercial leasing inquiries, please contact Kathleen Healy or Ashley Heichelbech of Commercial Realty Advisors Northwest LLC at 503.274.0211

 

About REACH CDC

Since 1982, REACH has built innovative and affordable housing for low-income families and individuals in the metropolitan region. REACH develops and manages affordable housing and provides supportive services to our residents, as well as free home repairs to senior homeowners. Today, REACH’s portfolio includes over 2,300 units, including single family homes, apartment buildings and mixed-use developments located across the City of Portland. REACH has won numerous state and national awards for its creative approach to building healthy communities and its innovative housing projects. More information available at http://reachcdc.org.

 

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