The Mary Ann is a 54-unit, four-story apartment building to be constructed in the Old Town area in Beaverton. Over the past several years, REACH Community Development has been working with the City of Beaverton to identify a project in the city’s growing downtown core to meet the needs of working families. With the 2018 passing of the Metro Regional Affordable Housing Bond, Beaverton and Metro selected the Mary Ann as one of the first bond-funded housing complexes, committing $3 million.
“I am proud that our plans for a more vibrant downtown are inclusive and that our city center welcomes community members who need our support most,” said Mayor Denny Doyle. “The Mary Ann exemplifies the type of housing development we need in Beaverton with both affordable and deeply affordable homes and great access to transit and downtown amenities. Increasing the availability and affordability of housing is a key focus area and will remain a top city priority.”
In Washington County, one out of four renters are considered rent-burdened, paying more than 50 percent of their income toward rent. This new building will help address the high rent burden experienced by a significant proportion of Beaverton’s renter households.
With more than half of the apartments containing two or more bedrooms, the Mary Ann will be home to very low-income families with children — those with incomes at or below 60 percent of the Area Median Income, with 20 percent of the units set aside for households at or less than 30 percent of the Area Median Income.
The $22.6 million project is financed with funding from the City of Beaverton’s allocation of the Metro Regional Affordable Housing Bond, Oregon Housing and Community Services, Business Oregon, Washington County, City of Beaverton grant funds, the Beaverton Urban Redevelopment Agency, and Energy Trust of Oregon.
For more information about the Mary Ann, including a video of the groundbreaking event, visit https://reachcdc.org/our-work/mary-ann. For more information about affordable housing in the city, visit www.BeavertonOregon.gov/affordablehousing.