New construction of a 44-unit housing community that provides affordable, independent living for low-income seniors and adults with severe physical disabilities.
Sponsored by QUAD Inc., Station 162 is a housing community in Gresham, Oregon, that serves low-income seniors and adults with severe physical disabilities. Although these two populations have overlapping needs, they are rarely housed together. At Station 162, residents live independently, in a neighborhood setting, with access to QUAD Inc.’s around-the-clock personal-attendant care services. Residents direct their own schedules and scopes of care, getting help with medication, grooming, and meal preparation, and pay no more than 30 percent of their incomes toward rent.
Apartments at Station 162 are designed to higher standards of accessibility than required by the American with Disabilities Act (ADA). The units incorporate durable materials and features that QUAD Inc. has learned, through 40 years of experience, work best for people with limited mobility. All the project’s 44 apartment units rent affordably to low-income residents, and more than half serve people at very low income levels. In addition to lowering residents’ housing costs, Station 162 reduces the public cost burden of caring for these individuals in nursing homes.
Finance: Housing Development Center helped QUAD Inc. structure a multisource funding package that includes $8.8 million in low-income-housing tax credit equity, as well as City of Gresham HOME funds and a permanent loan from NOAH. U.S. Bank was a major funder of Station 162, providing tax-credit equity as well as a $7.8 million construction loan; additionally, U.S. Bank made grants worth $60,000 to close the project’s funding gap and to pay for needed equipment, such as lifts.
Design and Construction: QUAD Inc. won national attention for creating accessible housing for people in wheelchairs a decade before passage of the ADA in 1990. Building on QUAD Inc.’s longtime commitment to advancing accessibility in housing, most apartment units at Station 162 have roll-under counters, key card entry, swing-free door closures, roll-in showers, and emergency call systems. Other units are fully adaptable, and community space is accessible.
Financial structuring and construction management
→ DAO Architecture
→ Walsh Construction
→ Oregon Housing and Community Services
→ City of Gresham
→ NOAH (Network for Oregon Affordable Housing)
→ U.S. Bank
→ Low-income-housing tax credit equity (9%)
→ HOME funds
→ FHLBanks Affordable Housing Program funds
→ Oregon General Housing Account Program (GHAP) funds
→ Oregon Multifamily Energy Program funds
→ Construction and permanent loans
Common Space: 13,015
Total Development: $11.4 million
May 2013 to December 2016