Proud Ground: How Social Investing
Made Svaboda Court Possible
Southeast Portland will soon have 12 more beautiful, brand new, and very green home buying opportunities. Thanks to construction financing from the Portland Housing Bureau, the Institute for Community Economics, and Partners for the Common Good, Svaboda Court will break ground this summer.
The 2 and 3 bedroom homes, priced from $120,000-$140,000, will follow in the tradition of other Proud Ground new construction projects by aiming for LEED for Homes Platinum certification — meaning, they will be about as green as homes can be. Solar hot water, the most efficient heating and ventilating systems available, insulation at higher than code, and triple-pane windows are just a few of the green features.
By creating a development that is economically, environmentally, and socially sustainable, we hope to demonstrate that new high density, family-friendly housing close to jobs and transit can be a successful part of any community’s infill development.
This project simply would not be possible without the support of social investors whose low-interest loans kept pre-development costs down while construction financing was negotiated; paying market-rate interest would have approximately doubled the project’s carrying costs. Low-interest payments are also key to meeting price-points affordable to our target buyers of up to 65% MFI ($46,280 for a family of 4).
We are extremely grateful for Svaboda Court pre-development support from:
To learn more about Proud Ground click here.