CPP Closes on Affordable Housing Project in Portland

Community Preservation Partners (CPP) has announced the closing of Fremont Manor,  a 28-unit, affordable housing community in Portland, OR. The complex features 1-, 2- and 3-bedroom floorplans, up to 990 square feet for residents at 60% area median income. 

The project is CPP’s second in Portland, and the developer plans to renovate the apartments with minimal displacement for residents. The rehabilitation will include new cabinets and countertops, plumbing fixtures, water heaters, roofing, windows and fresh paint. 

“CPP is excited to lead a meaningful renovation to this property, bringing fresh life to it so residents can be proud to call it home,” said Anand Kannan, the president at CPP, which has invested more than $2.6 billion towards affordable housing in the U.S. Kannan added in a news release, “With this Portland project, we are not only furthering our mission of affordable housing, but helping it to further the state’s mission for social equality and justice.”