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YWCA Building Mixed Use Project Site B

Riverfront-Downtown Urban Renewal Area - North Downtown - Project Overview

Date		Milestone
Feb 2007	\| \| \| \| \| \| \|	Sold to Telos for a mixed-use redevelopment project
2004	\| \| \| \| \|	Building demolition & Site Preparation
Dec 2003	\| \| \| \| \|	Urban Renewal Agency purchased B2 property
Jan 2001	\| \| \| \| \|	Urban Renewal Agency purchased B1 property
March 1999	\| \| \| \| \|	Broadway Mixed Use Development Study completed
July 1997	\| \| \| \| \|	North Downtown Plan Adopted

Description

Telos recently purchased the property known as "Site B" on the northwest corner of Broadway and Market streets from the Urban Renewal Agency. They are constructing a mixed-use building comprised of the following:

55 affordable housing units
12,506 square feet of office/administration space for the YWCA
Ground floor retail space of approximately 3,910 sq. ft.

Total project costs are estimated at more than $11 million dollars. The development team was successful in securing Low-Income Housing Tax Credits through a competitive process from the State of Oregon, which will provide the equity to develop studio and one-bedroom units for individuals earning 55% or less median family income.