Late last year, Metro purchased the former Trinity Broadcasting Network (TBN) property at 432 NE 74th Ave. Metro now intends to develop the site for affordable housing. Full utilization of this site could create one of the most significant housing developments in Montavilla.
“Metro purchased the property through the Transit-Oriented Development program with the intention to build affordable housing in partnership with Portland Housing Bureau and using Metro Housing Bond funds.” Explained Patrick McLaughlin, Senior Development Project Manager for Housing & Transit-Oriented Development at Metro.
Metro’s Transit-Oriented Development (TOD) program seeks to build more places where people can live and work near transit. Often they accomplish that through partnerships with the private sector. One of those projects, Orchards at 82nd, brought 47 residential units to SE Division. McLaughlin sees similarities between that project and the TBN site, noting similarities in the developer selection process.
High-level planning for this project will start soon and continue into 2021. During that time, stakeholders will settle on goals for the development. Then Metro will select a developer through a competitive process. Already potential builders have inquired about the property, according to McLaughlin. “Developers have expressed a lot of interest in the site, but we haven’t had any detailed conversations with them about proposals since that will come later in the process.”
Portland has an urgent need for affordable housing, and the pandemic will only make that need greater. McLaughlin offered a best guess at a construction start date for this project. “Right now, I’d suggest construction would start in 2022. However, COVID-19 is making it a little tricky to be certain.” As with other affordable housing coming to NE Glisan, this project is years away from completion. However, if this project can be delivered in three years, it will be arrive when it will be appreciated the most.
Development along NE Glisan has increased over the last year. The transformation of the TBN site could become the most substantial change to the area and set a tone for future growth. This project has the potentail to improve housing and the vitality of NE Glisan as a main street of Montavilla.