To expand economically, a community requires quality housing for its workforce. Given extremely low vacancies and escalating rental rates, the development of new housing in Portland has proved essential. In 2000 the City of Portland began expending its HUD HOME and CDBG resources to finance the development of new affordable rental housing.
Portland has participated in financing affordable rental housing projects with both non-profit and for-profit development teams. While primarily family housing developments, the City has also supported housing for special populations. Among these projects are five that contain a mix of affordable and market rate units: Unity Village, Island View, Walker Terrace, Wellesley Estates, and 409 Cumberland Avenue.
City assisted projects are not the only affordable rental housing developments built in recent years – Ocean East, Casco Terrace and the single-room occupancy units at the YMCA have also come on line. All these developments are enhancing the availability and affordability of rental housing in Portland.