219 NW 2nd Avenue
Portland, OR 97209
(503) 226-4368
FAX: (503) 226-2509
www.innovativehousinginc.com

AGENCY INFORMATION
Sarah Stevenson, Executive Director
Total Number of Staff: 9                     
Housing & Community Development Staff: 7            
Annual Operating Budget: $729,163
Total Cost of Development, 2006–2009: $30,280,835
Area Served: Greater Portland Area
Year Incorporated: 1984    

Total Number of Units Developed: 1,439 (Rental-1346; Homeownership-93)       
Total Number of Units Under Development: 132 (Rental-132; Homeownership-0)

PROGRAMS AND SERVICES OFFERED

• Social Services
• Child Care
• Youth Programs
• Economic Development
• Homeownership Counseling
• IDAs
• Mixed Use Development
• Green Building
• Community Facilities

MISSION
Innovative Housing, Inc.’s mission is to develop, preserve, and operate high-quality affordable housing, primarily in the Portland Metropolitan area.  We complement our housing with a Resident Services Program designed to help residents maintain their housing stability, improve their quality of life, and break the cycle of poverty.  We do this by connecting residents to existing community resources and service providers, sponsoring community-building activities, administering an emergency fund, and coordinating site-based programming.  IHI’s Resident Services program includes eviction prevention, a comprehensive youth program, summer meals/activities at IHI’s family properties, and a financial stability program that focuses on increasing resident financial skills, earning potential, and asset-building capacity.   

KEY ACCOMPLISHMENTS

• IHI has developed and operates 13 affordable, multifamily rental projects in the Portland region with a total of 839 units that are designed to accommodate the needs of seniors, tenants with physical and mental disabilities, chronically homeless singles, families, and other low-income households.
• IHI has developed 93 condo units in three mixed-income condominium projects that created homeownership opportunities for households earning between 60% and 100% of area median income.
• IHI recently completed a renovation of Lyndon Musolf Manor, its first multifamily housing development to exit the 15-year Low-Income Housing Tax Credit compliance period.  This project involved seismic and systems upgrades, phased relocation of 95 residents, and historic restoration of ground floor storefronts.
• In 2008 IHI completed 58 new family units in Northeast Portland, one block from the MAX station on 82nd Avenue.  This transit-oriented project includes 15 apartments set aside for Bridges to Housing high-resource-using homeless families, a service partnership with Portland Impact, and an on-site child care center.

CURRENT PROJECTS

• In 2007 IHI secured operating control of The Clifford Apartments in Southeast Portland, adding 83 affordable units and four commercial spaces to its portfolio. IHI plans to rehab the building in 2009-2010, which will create an additional five affordable units.
• IHI is currently working to acquire and rehabilitate Hewitt Place Townhomes, a 44-unit expiring-use LIHTC project in Troutdale. Following the rehab, which includes the addition of community space for resident services, Hewitt Place will continue to serve its current population of large families at or below 50% and 60% of area median income.
• IHI is establishing a Community Development Financial Institution (CDFI) designed to combine access to affordable small-dollar loans with financial education and credit counseling. IHI’s goal is to help low-income individuals in Multnomah County make informed and sound decisions in the short-term while helping them strengthen their credit, build assets, and improve their economic well-being in the long term.

PARTNERS IN DEVELOPMENT
City of Portland Bureau of Housing and Community Development  •  Housing Authority of Portland  •  Portland Development Commission  •  Oregon Housing and Community Services Department  •  Multnomah County  •  Key Bank  •  Network for Oregon Affordable Housing (NOAH)  •  Riverview Bank  •  Bank of America  •  Washington Mutual/JPMorgan Chase  •  Homestead Capital  •  Oregon Equity Fund  •  Enterprise Social Investment Corporation  •  Centerline  •  Wells Fargo  •  Boston Capital  •  Metro  •  Federal Home Loan Bank of Seattle  •  Housing Development Center  •  LRS Architects  •  Carleton Hart Architects  •  LMC Construction

STAFF PARTICIPATING IN INDUSTRY SUPPORT PROGRAMS
Merri Gonsalves Resident Services
Angie Harbin Resident Services
Emma Martinez Resident Services
Meredith Schmidt Multi-Family Development