Portland 's $258.4 million housing bond wins
Portland voters approved a $258.4 million bond that will help build or preserve hundreds of affordable apartments for the city's poorest residents.
Measure 26-179 jumped to a 62 percent to 38 percent lead Tuesday night in partial returns.
The approval comes as the city continues to struggle to find solutions to an ongoing homelessness crisis and a red-hot rental market made worse by a lack of available housing.
Commissioner Dan Saltzman, who introduced the bond and oversees the city's housing bureau, said he was "very gratified" by the overwhelming support. It shows residents understand the gravity of the housing crisis, he said.
"I really think that Portlanders really stepped up in a big way," he said.
Before the vote, supporters had said they were confident about the bond's chances and predicted a nightmare scenario for the city's poorest residents if the bond failed.
Portland City Council members declared a housing emergency a little more than a year ago. Despite 2,000 affordable housing units under construction or in development, Portland still faces a shortfall of 24,000 units.
Backed by a broad coalition of local business leaders, city officials and the nonprofit sector, the bond calls for building or preserving 1,300 apartments for the city's most vulnerable residents.
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