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Staff reports: Mount Washington redevelopment resumes; vacancy rate edges higher as new units come online
Summary
City staff updated commissioners on multiple housing projects and market indicators: Mount Washington redevelopment is restarting with a new equity partner, several market‑rate and workforce projects are moving forward, multifamily vacancy rose to 3.7% in 2024, and CDBG/HOME funding demand exceeded allocations.
City staff briefed the Housing Opportunities Commission on current housing projects and market conditions on April 9, saying a major redevelopment is resuming after the developer secured a new equity partner and that the multifamily vacancy rate has risen as recent projects have opened.
Peter White, a city staff member, said the Mount Washington redevelopment—work to rehabilitate an existing core structure and add two additional buildings—had paused after a capital partner’s portfolio collapsed late last year. The developer has found a replacement equity partner and staff said permits are in order; the project will include more than 200 units and will be…
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