Gorman & Company Breaks Ground on 40-Unit Affordable Housing Project in Portland

Stoel Rives congratulates client Gorman & Company on commencing construction on its Jade Apartments, a 40-unit affordable housing development in Portland’s Jade District. Developed in partnership with APANO Communities United Fund, the project cost is approximately $24 million, and the building is slated to open in early 2026.

The development will include 14 one-bedroom units, 11 two-bedroom units, and 15 three-bedroom units, five of which will be reserved for households making up to 30% of the area median income (AMI) and the remainder for households making up to 60% of AMI. Community spaces will be available for residents, including courtyards, a garden, play areas, and improved pedestrian access. The project was designed to Earth Advantage silver standards with solar power, battery backup, and high-efficiency systems.

The project was funded with public and private support from Portland Clean Energy Community Benefits Fund, Metro, Oregon Housing and Community Services, Banner Bank, and Network of Oregon Affordable Housing.

The Stoel Rives team that counseled Gorman included Kate R. Mathews and John B. Dudrey.

For more, see this DJC Oregon article.