HDC Community Fund Loans

Rosewood Plaza
 

About our loan recipient: Based in East Portland, Human Solutions eliminates barriers to escaping poverty through emergency family shelter, job training, affordable housing, eviction prevention, and emergency household assistance. Human Solutions owns 608 units of affordable housing, and its services touched the lives of 88,000 people last year.

About this project: In 2013, Human Solutions acquired Rosewood Plaza, a market-rate rental property with a history of neglect and mismanagement, located next to Human Solutions' award-winning Rockwood Building in Gresham’s Rockwood neighborhood. Human Solutions renovated Rosewood's existing 26 apartment units, converted them to affordable housing, and added 19 more affordable rental units to the site. Human Solutions also partnered with Wallace Medical Concern to build a 5,000-square-foot dental clinic serving low-income individuals and families on the site. Rosewood Plaza is integrated with the Rockwood Building campus through shared resident services and other amenities.

Why we're invested: Human Solutions needed $1.38 million to acquire the Rosewood property—but with a $150,000 seller’s note, and a maximum loan of $937,000 from its primary funder, Human Solutions was significantly short of this goal. A subordinate loan from HDC Community Fund covered the gap, enabling this important project to move forward.

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