USA Properties Fund, a developer, owner and manager focused on affordable housing on the West Coast is teaming up with Oregon Housing and Community Services and Northwest Housing Alternatives to build the $63-million Canopy Apartments at Powell in Portland.

“We’ve been looking at expanding to Portland for a while, and The Canopy Apartments is a good fit and a great project to enter the market,” USA Properties President Geoff Brown said.  

The public-private partnership is also benefiting from $15.2 million from the Oregon Housing and Community Services’s Local Innovation and Fast Track (LIFT) Housing Program.

“Increasing access to safe, stable and affordable housing for Oregon families is a continued commitment of OHCS,” Oregon Housing and Community Services Executive Director Andrea Bell said. 

The 169-unit Canopy Apartments at Powell are designed for locals making less than 60 percent of the community’s median income. That is around $58,000 a year for a family of four.