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News Release
The Mary Ann - 4605 SW Main Ave Exterior Rendering
The Mary Ann - 4605 SW Main Ave Exterior Rendering
REACH Breaks Ground on The Mary Ann in Beaverton - The first project to begin construction with funding through the Metro Regional Housing Bond (Photo) - 06/26/20

Beaverton, Ore. –June 26, 2020 —REACH Community Development (REACH) breaks ground on The Mary Ann, creating 54 new affordable apartments in Beaverton. It is the first project to begin construction with funding through the Metro Regional Affordable Housing Bond and REACH’s first project in the City of Beaverton. The groundbreaking will be shared virtually via social media and on REACH’s website here.  

The Mary Ann is a 54-unit, four-story apartment building to be constructed in the Old Town area in Beaverton. Over the past several years, REACH has been working with the City of Beaverton to identify a project in the city’s growing downtown core to meet the needs of working families. With the 2018 passing of the Metro Regional Affordable Housing Bond, Beaverton and Metro selected the Mary Ann as one of the first bond-funded projects, committing $3M.

“The Mary Ann groundbreaking is symbolic of the 3,900 homes that will be built using funds secured through the 2018 Regional Affordable Housing Bond,” said Metro Councilor Craig Dirksen. “This is an important milestone to celebrate in our efforts to help everyone have a safe, stable home. We at Metro are tremendously grateful to the voters, taxpayers, and our government and non-profit partners who have made this project possible.”

In Washington County, 1 out of 4 renters are considered rent-burdened paying more than 50% of their income towards rent. This new building will help address the high rent burden experienced by a significant proportion of Beaverton’s renter households.

“Affordable housing projects like this one are a critical piece in the creation of a vibrant community – providing families of all incomes stable housing close to work and play,” said Washington County Chair Kathryn Harrington. "We are grateful to have so many partners at the table, working together to make this a reality.”

With over half of the apartments containing two or more bedrooms, the Mary Ann will be home to very low-income families with children with incomes at or below 60% of the Area Median Income (AMI), with 20% of the units set aside for households at or below 30% AMI. Onsite programs and services for residents will be provided through a partnership with Bienestar. As part of their work, Bienestar provides culturally specific, bilingual services to the Latinx and low-income communities of Washington County.

“Creating equitable opportunities for larger families to live in the opportunity-rich, Old Town neighborhood in Beaverton was a key priority in developing this site,” said REACH CEO, Dan Valliere. “With access to affordable transit options, high-quality healthcare, proximity to living-wage jobs, and many community resources, The Mary Ann will be a supportive place to call home where families and individuals can realize their goals.”

The Mary Ann features 39 parking spaces, a secure bike room, laundry facilities, and a community room that opens to a large courtyard. The property is within walking distance to the MAX light rail and WES commuter rail, multiple shopping opportunities, grocery stores, Beaverton City Library, post office, restaurants, services, parks, and across the street from Beaverton High School.

“I am proud that our plans for a more vibrant downtown are inclusive and that our city center welcomes community members who need our support most,” said Beaverton Mayor Denny Doyle. “The Mary Ann exemplifies the type of housing development we need in Beaverton with both affordable and deeply affordable homes and great access to transit and downtown amenities. Increasing the availability and affordability of housing is a key focus area and will remain a top city priority.”

The $22.6 million project is financed with funding from the City of Beaverton’s allocation of the Metro Housing Bond, Oregon Housing and Community Services,  Business Oregon, Washington County, City of Beaverton grant funds, the Beaverton Urban Redevelopment Agency, and Energy Trust of Oregon. Permanent financing will be provided by the Network for Oregon Affordable Housing (NOAH). Wells Fargo Bank made an almost $12M in Low Income Housing Tax Credit equity investment in the project and is also the construction lender. The Community Housing Fund provided acquisition financing.

“As a leading affordable housing investor and lender, we are proud to work with REACH in developing much needed safe, affordable housing for families and individuals in Beaverton,” said Wells Fargo's Community Lending and Investment Vice President Eric Logsdon.

The building will be managed by REACH and is designed by Scott Edwards Architecture with construction by Walsh Construction, and construction management by The Klosh Group. REACH is pursuing certification through Earth Advantage.

Construction will proceed during the COVID-19 environment as providing housing is essential, especially during this time when physical distancing is critical. For this project, REACH has a 20% minimum commitment for MWESB (Minority, Women, and Emerging Small Business) subcontractor participation. On its most recent projects, REACH has targeted higher goals by working with general contractors who have made a commitment to mentor small local MWESB general contractors; achieving between 29-41% MWESB subcontractor participation.  The Mary Ann will take approximately 15 months to complete.

 

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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 2,400 units, including single-family homes, apartment buildings, and mixed-use developments located across the Portland Metro Region and SW Washington. More information available at http://reachcdc.org.

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