Ivy City Homes is the name of a new mixed-income housing development planned for Ivy Street and Martin Luther King Jr. Blvd. just south of King Neighborhood. It is to be one of the first projects nationally to earn the Earth Advantage Community certification for sustainability.
A public/private partnership with the Portland Development Commission, the project provides a provision for permanently affordable homeownership with a subcontractor base consisting of a high percentage of minority-owned, women-owned, and emerging small businesses. Permanent affordability of 30% of the units to families earning up to 80% of the median family income through a partnership with Proud Ground, a community land trust with deed covenants that restrict the resale prices of the permanently affordable units through future resales.
The homes are to achieve a LEED for Homes certification with energy-efficiency of 45% over current energy code and will have energy efficient appliances and secure bike parking. Construction on the 28 units of residential and live/work space is scheduled to be completed summer 2011. Of the 28 units available for sale, approximately nine will be affordable to families earning 60-80% of the median family income for the area.