Jade Apartments

A new 40-unit affordable housing development is set to begin construction next month in Portland’s Jade District, located in the Powellhurst-Gilbert neighborhood. The three-story Jade Apartments will occupy a 42,667-square-foot site at 2905 SE 89th Ave., between 82nd Avenue and I-205.

The project will feature 14 one-bedroom units, 11 two-bedroom units, and 15 three-bedroom units. Five units will be reserved for households earning up to 30% of the area median income (AMI), while the rest will serve those earning up to 60% of AMI. Amenities include two courtyards, a community room, an outdoor play area, a community garden, bike storage, secure mail and package areas, laundry facilities on each floor, on-site management, and parking.

Designed to meet green building standards, the development includes features such as solar power, battery backup systems, heat-pump water heaters, and efficient HVAC systems. The goal is to generate most of the building’s energy on-site.

The $24 million project is funded through multiple sources, including the Portland Housing Bureau, Metro’s Transit-Oriented Development Program, affordable housing bonds, and other state and local programs. Construction is scheduled for completion in early 2026.

Location

• Jade Apartments will be located at 2905 SE 89th Ave., in the Powellhurst-Gilbert neighborhood, between 82nd Avenue and I-205.

Unit Details

• 40 affordable units:
  • 14 one-bedroom
  • 11 two-bedroom
  • 15 three-bedroom
• Five units reserved for households earning up to 30% of area median income (AMI).
• Remaining units available to households earning up to 60% of AMI.

Amenities

• Two courtyards with a central community room.
• Outdoor play area and community garden.
• Secure bike storage, mail and package room.
• Laundry rooms on each floor.
• On-site property management and resident services.
• On-site parking.

Sustainability Features

• Designed to meet Earth Advantage Silver and Portland Housing Bureau green standards.
• Full solar array with battery backup.
• Heat-pump water heaters and high-efficiency HVAC systems.
• Enhanced building envelope and insulation.
• Goal: Generate most energy on-site using clean energy sources.

Infrastructure Improvements

• A new road with sidewalks to improve access to nearby bus stops on Southeast Division Street.

Funding and Timeline

• Estimated project cost: $24 million.
• Funded by:
  • Portland Housing Bureau
  • Metro’s Transit-Oriented Development Program
  • Affordable housing bond funds
  • Multnomah County and Oregon Housing programs
  • Banner Bank
• Construction begins December 2024, with completion expected by early 2026.