King + Parks Apartments is a new construction, 70-unit multifamily rental project developed by PCRI in the Piedmont neighborhood of the Interstate Corridor Urban Renewal Area. Its location at the intersection of Martin Luther King Jr. Blvd. and Rosa Parks Way has historical significance to the Black/African American community.
Most of the homes have two or three bedrooms, with all three-bedroom units designed townhome-style with direct access to the central courtyard and play area.
managed by Portland Community Reinvestment Initiatives
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
One Bedroom (1/1) | - | Call for Price |
Two Bedroom (2/1) | - | Call for Price |
Three Bedroom (3/1.5) | - | Call for Price |
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.