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CPP Closes On Its Second Affordable Housing Project in Portland

PORTLAND, Ore., May 16, 2022 (GLOBE NEWSWIRE) -- Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, today announced the closing of Fremont Manor in Portland, Oregon with a commitment to preserve its affordable housing designation for decades. Built in 1969 and never before renovated, the 28-unit, family-oriented complex features 1-, 2- and 3-bedroom floorplans ranging from 550 to 990 square-feet for residents at 60% area median income (AMI). As CPP’s second project in Portland, the renovation will be a tenant-in-place rehabilitation with minimal displacement for residents.

“CPP is excited to lead a meaningful renovation to this property, bringing fresh life to it so residents can be proud to call it home,” said Anand Kannan, president at CPP. “With this project, we are not only furthering our mission of affordable housing, but helping to further the state’s mission for social equality and justice.”

Located at 233 N. Fremont Street, Fremont Manor is close to downtown Portland, with easy access to public transportation.

Renovations will include new cabinets and countertops, plumbing fixtures, water heaters, interior electrical, new roofing and windows, deck coating, fresh paint, a trash enclosure, slurry and seal, new resident mailboxes, and exterior landscaping. The property will be upgraded to meet sustainability features required by the State of Oregon. Residents also will have access to services provided through Plaza Townhomes, which is run by Volunteers of America.

About Community Preservation Partners
Since its founding in 2004, Community Preservation Partners (CPP), an affordable housing rehabilitation company, has invested more than $2.6 billion into neighborhoods across the United States, keeping housing costs affordable for thousands of seniors, families and individuals. Having developed more than 12,500 low-income housing units, and positively changing the lives of thousands of low-income residents, the award-winning firm continues to expand nationally with headquarters in Irvine, California and Reston, Virginia. With its creative mindset and unwavering vision, CPP Housing proposes big, bold and better solutions that build community and serve the greater good. Creativity. Performance. Purpose. A different way to home. For more information, visit www.cpp-housing.com and follow us on LinkedIn.

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Media Contact:
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Marisa Vallbona 
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Source: Community Preservation Partners (CPP)

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