The most important preservation project in the history of Home Forward.
85 Stories is a multi-year initiative to renovate and preserve Home Forward’s existing portfolio of rent-assisted homes. 85 Stories impacts the lives of over 5,000 Multnomah County residents. It supports our commitment to serve residents and steward public resources wisely.
Our preservation effort began in 2013 with ten apartment communities that house seniors and people with disabilities, our most vulnerable residents. Home Forward was granted approval to change the operating subsidy at the properties from public housing to project-based Section 8 rent assistance through a U.S. Department of Housing and Urban Development (HUD) program called Section 18. This allowed us to leverage equity and debt to make the necessary capital improvements. The list of improvements was all-encompassing, including new roofs and new windows, new heating systems and electrical work, hot water heaters and storage systems, ventilation systems, seismic upgrades, green building features, and cosmetic upgrades to community rooms and public areas. By improving the physical condition of the buildings, Home Forward was able to reduce operating costs, enhance property value, and ensure the stability of these affordable housing community assets. Since then, we’ve been working to repair, renovate, and redevelop the rest of our public housing portfolio.