Jade District building purchase closes December 21

>, Stories>Jade District building purchase closes December 21

Jade District building purchase closes December 21

An old furniture store in the Jade District will become an intergenerational, multicultural space that acts as a bulwark against gentrification, thanks to the success of the district’s Roots to Rise funding campaign.

The Jade District, part of the Neighborhood Prosperity Initiative (NPI) Network, allocated more than $200,000 of its Tax Increment Financing (TIF) dollars to the project. Prosper Portland provided a $100,000 general fund pass-through grant. The project is known as the Jade APANO Multicultural Space (JAMS); it will be a four story, 48-unit affordable housing complex with a 5,000 square foot cultural center, public plaza and permanent home for APANO and the Jade district NPI office.

APANO will own the commercial space and ROSE Community Development will own the housing; while APANO is still fund raising, its Roots to Rise campaign raised enough capital to close on the purchase December 21.

Photo by Roots to Rise
2017-12-21T14:27:08+00:00December 21st, 2017|Categories: Neighborhood Prosperity Initiative, Stories|Tags: , , , |