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April 17, 2015

Pearl District could get affordable units

PORTLAND (AP) — The Portland Housing Bureau has agreed to buy land for affordable housing in the Pearl District from a private developer for $1.3 million.

The bureau says a 1999 agreement with developer Hoyt Street Properties called for 35 percent of its Pearl District housing units to meet affordability standards. If the target was not met by a specific date, the city had the chance to buy land for affordable housing at a below-market price.


 
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