PORTLAND, OR—Home Forward says it will sell its St. Johns Woods apartment complex in North Portland to Vitus Group, a Seattle-based affordable housing provider with apartment communities in 14 states. Home Forward, the new name for the Housing Authority of Portland, is Oregon's largest affordable housing provider, with nearly 6,500 units of affordable housing in Multnomah County.
At their meeting on January 15, Home Forward's Board of Commissioners authorized selling St. Johns Woods for a price expected to be $8.25 million.
“We are pleased to pass the stewardship for this community resource to such a fine affordable housing organization,” said Harriet Cormack, Home Forward's board chair, “This is excellent news for the long-term health of St. Johns Woods, as we have been challenged to meet all of the property's capital needs given our financing.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
