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Task force weighs an 8‑unit Randall Street homeownership pilot and East Bayside master plan for social housing expansion
Summary
The Portland Housing Authority presented an 8‑unit homeownership scenario on city land and described larger East Bayside redevelopment potential; the task force asked PHA and staff to update pro formas, brownfields and geotech reports and to return with clearer financing options.
At the meeting the Portland Housing Authority described a smaller pilot on Randall Street (East Deering) that its team modeled as an eight‑unit limited‑equity homeownership project. Jay Waterman said the homeownership pro forma produced an estimated $1.3 million funding gap under the assumptions the authority used and noted brownfields or soil remediation funding could be important if contamination were present.
Task force members discussed whether homeownership with deed restrictions counts as social housing; several members agreed limited‑equity homeownership can be a social‑housing approach but cautioned it needs more resources and carries different long‑term implications than rental social housing. PHA noted development forms (townhouse, shared‑wall units) could fit on the site and described preliminary pricing and gap figures; members requested a rental pro forma as well so the task force can compare models.
Separately, PHA outlined larger redevelopment work in East Bayside and said recode zoning could allow substantially more units in that neighborhood. PHA said public‑housing parcels there have HUD declarations of trust that must be removed before tax credit conversions; PHA also said an extended use agreement often carries 80 percent AMI requirements for replaced HUD‑assisted units. Members discussed phased master planning, phasing to handle scarce financing and the political tradeoffs of converting public housing while adding new units.
The task force directed subcommittees to prioritize site selection, update environmental and geotechnical information for candidate parcels, and return to the full group with a ranked list and updated pro formas.
